Introduction of Partial Tear-Up
ECC intends to change its rules regarding tools to establish a matched book in a recovery situation following a clearing member default event.
With this consultation, ECC would like to receive feedback regarding the intended changes.
Clearing members, non-clearing members and clients are invited to provide their feedback until 16th of September 2022. The final approach to partial tear-up will be consulted with the EMIR Risk Committee before implementation.
The final rules will be subject to the standard consultation process for changes in ECC’s rulebook before becoming effective.
Please find more detailed information in the Clearing Circular below.
Contact
European Commodity Clearing AG
CCP Riks Models & Analytics
E-mail: risk.controlling@ecc.de