Cash Collateral
Cash Collateral
ECC accepts EUR, GBP and USD as collateral. Regular overnight Initial Margin Calls will be carried out in Euro only. Intraday Margin Calls can be furnished in Euro, USD or securities.
| Typ2 | Currency | Intraday Cut-Off Time | Cash Processing | Eligible for |
|---|---|---|---|---|
| Deposit | EUR USD | 17:00 CET | Debit 08:00 CET (latest) | All Margin Requirements |
| Release | EUR
| 09:30 CET
| Credit 08:15 CET (about) | All Margin Requirements |
Cash will be debited or credited by ECC to the cash accounts that Clearing Members have communicated to ECC as relevant cash settlement accounts. Interest is paid on cash that is deposited with ECC at 10 am CET with the collateral pool that holds the cash overnight.
Deposit
Cash collateral is automatically called overnight into the house collateral pool for house positions (if separate house collateral pool has been opened) and into the Standard Collateral Pool (GOS – General Omnibus Pool) for any other positions. Cash from the Standard Collateral Pool (GOS – General Omnibus Pool) can be allocated to a specific pool (except the house pool) by instructing balance only booking. Such allocations can be made using the sample CSV file here until 11am CET on ECC business days.
Release
Releases of cash from the house collateral pool (if separate house collateral pool has been opened) or the Standard Collateral and the SOS Collateral Pool are made automatically overnight. Cash from the house pool can be released on request of the Clearing Member before the intraday cut-off time. Releases of cash from any other pool are requested as follows:
| Action | House Pool | Standard Pool | SOS | OSA | ISA | |
|---|---|---|---|---|---|---|
| Instruction of Release | CM | CM | CM | CM | CM | |
| Approval of Release | n/a | n/a | n/a | OSA Represen-tative | ISA Client | |
| Release maximum till | Margin Require- ment | Margin Require- ment | 0 | 0 | 0 | |
| Shortfalls covered by | House | GOS | GOS | GOS | GOS | |
| Release to | CM | CM | CM TARGET2 or foreign currency Account | CM TARGET2 or foreign currency Account | CM TARGET2 or foreign currency Account | |
| Automatically Overnight Releases | Yes | Yes | Yes | No | No | |
Forms
Cash Collateral can be managed in C7 GUI by the Clearing Member. In backup cases, Clearing Members can use the following forms to instruct ECC.
| Downloads | |||||
|---|---|---|---|---|---|
| 2019-11-07 | Signature Schedule | pdf (192 KB) | |||
| 2018-07-13 | O04 Collateral Deposit / Collateral Release | zip (63 KB) | |||
| 2018-07-13 | O05 Intraday Collateral Deposit / Collateral Release | zip (65 KB) | |||