The applicant can activate its account after approval as long as all applicable documents and testing have been completed and activation requirements have been met.

Once all activation requirements have been met, EuroCCP requests that Participants notify Account Administration 2 business days prior to the Participant’s activation date.

A deposit of €1 million as initial guarantee fund contribution is required. In addition, subject to the account structure that the Participant chooses to adopt, the following margin contributions will fall due:

• €1 million if the Participant maintains one or more house accounts.
• €1 million if the Participant maintains one or more client accounts.

The margin contribution is intended to cover the first day of a new Participant’s trading activity. Actual margin contribution required will be advised on the morning of the second day of trading. A Participant is entitled to withdraw any excess margin amount if it wishes.

In order to ensure that Participants are able to activate their accounts on their desired date, the margin and guarantee fund payments must be received a minimum of 2 business days prior to activation.