Summary
As result of a regular parameter review, ECC adjusts the parameters for the Initial Margin Spot Market (IMSM) and Current Exposure Spot Market (CESM) as of 01 February 2023 as follows:
Parameter | Current | New |
Sell Margin Parameter OTE Czech Natural Gas | -0.4 | -0.7 |
Sell Margin Parameter PVB Natural Gas | -0.3 | -0.6 |
Sell Margin Parameter UK Power | -0.3 | -0.5 |
All other margin parameters remain unchanged.
Adjustment Process
The new value for the margin parameter applied on net sell amount of the Exposure for the Initial Margin Spot Market (IMSM) as well as of the Current Exposure Spot Market (CESM) will be used for the first time in the IMSM calculation on 01 February 2023 coming into effect for CESM at the same day and for IMSM at the following day 02 February 2023.1
The corresponding parameter in ECC’s risk parameter file on the ECC website will be updated on 01 February 2023.
Information
For assistance, please contact clearing@ecc.de. Clearing Members are reminded to check whether defined Emergency Member Stop Limits and deposited collaterals are set sufficiently to cover a possible margin increase.
Contact
European Commodity Clearing AG Clearing & Settlement
Phone: +49 341 24680-444
E-mail: clearing@ecc.de
1 Calculation Details of the Initial Margin Spot Market (IMSM) and Current Exposure Spot Market (CESM) can be found in the ECC Spot Market Margining Document available for download on the ECC website.