European Commodity Clearing (ECC)
European Commodity Clearing AG (ECC) provides clearing and post-trade services for a broad range of energy and commodity markets through its network of Partner Exchanges.
As a central counterparty (CCP), ECC assumes counterparty risk between buyers and sellers and supports market participants throughout the post-trade lifecycle, including risk management, payment processing and delivery services.
How ECC Supports Market Participants
Following the execution of a trade, ECC supports market participants in three key areas:
Risk Management
ECC manages counterparty risk and ensures the financial integrity of cleared markets through a comprehensive risk management framework.
Payment Services
ECC facilitates the secure and efficient exchange of all cash flows resulting from trading activities.
Deliveries & Nominations
ECC coordinates operational delivery processes and nominations for physical products and environmental markets.
Benefits of Central Clearing
Risk Management
ECC employs a comprehensive risk management framework designed to protect market participants and maintain market integrity.
Key elements:
- Daily profit and loss settlement
- Trading limit management
- Margining based on position size and market volatility
- Netting and cross-margining efficiencies
- Collateral management framework
- Contributions to a mutual Default Fund and a multi-layer default management framework
Payment Services
ECC supports the secure processing of all financial obligations resulting from cleared transactions. The use of central bank money and established banking infrastructures contributes to highly secure and reliable payment processes.
Services include
- Settlement of cash-settled transactions
- Margin and option premium payments
- Multi-currency settlements via Correspondent Banks
- Central bank money settlement for EUR transactions
Further information on payment processes can be found on the dedicated Financial Settlement subpage.
Delivery and Nomination Services
ECC is one of Europe's leading providers of operational delivery and nomination services for energy and commodity markets. Through its delivery and nomination services, ECC helps ensure that physical obligations resulting from exchange trading are fulfilled efficiently and securely.
Energy deliveries
ECC coordinates nominations and deliveries for:
- Power markets
- Natural gas markets
This includes nomination activities involving more than 30 transmission system operators across Europe.
Environmental markets
ECC manages operational delivery processes for:
- EU Emission Allowances (EUAs)
- Guarantees of Origin
- Capacity certificates and related products
Further information is provided on the dedicated subpage.
Support Services
ECC provides dedicated operational support to market participants throughout the post-trade lifecycle.
Clearing & Settlement Support
The ECC Clearing & Settlement Team supports members and trading participants with operational clearing and settlement topics.
Delivery & Nomination Support
The Delivery and Nomination Services team provides dedicated support for delivery and nomination processes and is available on a 24/7 basis.
Client Lifecycle Management
Admission-related queries can be directed to the Member Readiness Team.
Clearing at ECC – Do you want to know how clearing works?
European Commodity Clearing (ECC) is a central clearing house which specialises in energy and commodity products – but what actually is clearing?
What happens if the buyer or seller drops out of the transaction? Our short video explains clearing in a nutshell and gives a general overview of ECC's services.
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