In its function as a central counterparty, ECC offers its participants a variety of clearing and settlement services.
There are three different types of membership in ECC representing three levels of access:
Clearing Members (CM):
- are financial institutions in an EU member state or in Switzerland
- hold either a general clearing license or a direct clearing license
- can be trading participants of the exchange
Non-Clearing Members (NCM):
- are Trading Participants of the exchange
- sign a trilateral agreement between the Non-Clearing Member, Clearing Member and ECC to provide for the necessary infrastructure
DCP Clearing Members (DCP CM):
- are trading participants with direct access to trading and clearing of specific spot markets without the requirement of a Clearing Member.
- have an agreement with a co-operating Settlement Bank.