Overview
Membership Types and Eligibility
EuroCCP offers two membership categories: General Clearing Participants (GCPs) and Individual Clearing Participants (ICPs). GCPs clear trades for themselves and for firms that are not EuroCCP members (Non-Clearing Firms or NCFs). ICPs clear only for themselves.
A prospective GCP or ICP must be a corporation, partnership or other business organization regulated under the securities and/or banking legislation of an European Economic Area State or any other country acceptable to EuroCCP and must possess a specified minimum level of excess regulatory capital.
Risk Management and Financials
To ensure it provides the highest levels of risk management to its membership, including collection of sufficient collateral from Participants, EuroCCP not only requires applicants to provide certain financial information as part of their application process, it also reviews this information on an ongoing basis throughout a firm's membership.
Financial information required by EuroCCP includes but is not limited to financial statements, trading volume estimates, information on a firm's executives and other general compliance information.
Applying for Membership
Contact a EuroCCP Account Relationship Manager to initiate the application process. Your Relationship Manager will provide the forms and information you need to complete your application. Completed applications are reviewed by EuroCCP and submitted to EuroCCP's Compliance and Participant Committee for approval. Our Account Administration staff will contact you when your application is approved to discuss the set-up process.
Setup and Connectivity
Once a firm has been approved for membership, EuroCCP's Account Administration area assists in setting up the firm's EuroCCP account(s). Participant will provide information on its executing broker(s), netting account SSIs, clearing member cash banks and securities as collateral.