Summary
As result of a regular parameter review, ECC adjusts the risk parameters for the Initial Margin Spot Market (IMSM) and Current Exposure Spot Market (CESM) (Sell Margin parameter PVB Natural Gas and UK Power) and the multiplier for the UK Price Independent Parameter (UK Imbalance Cost Ratio) as of 01 November 2023 as shown below.
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 November 2023 coming into effect for CESM at the same day and for IMSM at the following day 02 November 2023.
The new value of the UK Imbalance Cost Ratio will be used for the calculation of the UK Price Independent Parameter on 25 October 2023 and come into effect on 01 November 2023. The corresponding parameter in ECC’s risk parameter file on the ECC website will be updated on 01 November 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