Summary
As of 8 December 2025, the calculation model for the statistical component of the Initial Margin Spot Market model (IMSM) will be adjusted. Due to this change, new IMSM parameters will be applicable:
| Parameter | Current | New |
|---|---|---|
| α (multiplier for statistical component) | 1.8 | 3.8 |
All other IMSM model parameters remain unchanged.
The changes will be used for the first time in the IMSM calculation on 8 December 2025, coming into effect the following day, 9 December 2025.
Please find detailed information in the document below.
CONTACT
European Commodity Clearing AG
T +49 341 24680-444
clearing@ecc.de