As a central counterparty, ECC guarantees financial fulfilment and carries out cash clearing for purchases and sales of all spot market transactions concluded on our Partner Exchanges or OTC-registered trades. As a result of this, ECC is responsible for cash transactions resulting from Variation Margin Payments.

ECC co-operates with international banks as Clearing Members. For Euro settlement, ECC uses central bank money that is transferred via the robust and reliable TARGET2 infrastructure. This ensures a smooth procedure as ECC has been approved as designated Payment System according to Article 10 of the Settlement Finality Directive 98/26/EC.

Payments in foreign currencies (currently: Variation Margin in GBP and USD) are settled with the help of the private settlement agent model. ECC uses Clearstream Banking Luxemburg (Clearstream) as a private settlement agent.

As soon as a Non-Clearing Member starts trading on one of our partner exchanges, financial settlement is carried out via its Clearing Member. Reports can be accessed via the ECC Member Area.

Financial settlement and reporting of all transactions form an essential part of ECC membership. For this reason, additional fees do not have to be paid and separate admission is not necessary.