Overview
ECC accepts EUR as cash collateral to cover intraday margin calls. USD are accepted in exceptional cases.
Overnight margin calls take place in EUR only; the same applies to contributions to the Default Fund. Direct Clearing Members (DCP CM) could deposit GBP additionally.
Interest rates on cash collateral
ECC pays interest on EUR margin assets in the form of cash, contributions to the Default Fund in the form of cash and funds provided for the fulfilment of liable equity capital requirements in the form of cash provided by an Institution Clearing Member.
ECC will apply for EUR cash collateral the following interest rates:
| Interest period | Interest rate |
|---|---|
| 17 June 2026 to 15 September 2026 | 2.00% p.a. |
| 16 September 2026 until further notice | 2.25% p.a. |
Interest is calculated on a daily basis ACT/360 and will apply during an interest period for the respective end-of-day cash balances reduced/complemented by the applicable service fee for margin assets in the form of cash in accordance with the ECC Price List.
| Publishing date | Title | File |
|---|---|---|
| 2026-09-14 | Interest rates on cash collateral | xlsx (18 KB) |
Minimum Cash Quota
At ECC, a Minimum Cash Quota applies for Institution Clearing Members. For each Institution Clearing Member, the ratio of all margin assets in the form of cash booked to the internal collateral accounts of such Institution Clearing Member to the overall Margin Requirement of such Institution Clearing Member always needs to stay above the Minimum Cash Quota.
Currently applied Minimum Cash Quota: 50%
The Minimum Cash Quota does not apply to contributions to the ECC Default Fund.
| Publishing date | Title | File |
|---|---|---|
| 2025-05-08 | ECC Clearing Circular 26/2025 | Introduction of automated Minimum Cash Quota Process | pdf (294 KB) |
| 2023-05-08 | ECC Clearing Circular 17/2023 | Introduction of a EUR Minimum Cash Quota and adjustment of the Add-on on the service fee for margin assets in the form of securities | pdf (110 KB) |