Clearance & Settlement

 
Benefits of using EuroCCP
  • Low-cost clearing and settlement are provided by a user-governed organisation that operates on an "at-cost" basis. Any excess monies generated by EuroCCP over and above those needed to operate the business are returned to users on a pro-rata basis.
  • Interest on cash collateral is returned to participants without the deduction of a spread.
  • Pan-European capability enables firms to trade the same security on any of the platforms cleared by EuroCCP and have the positions traded on the same day netted into a single settlement and margin obligation.
  • Reliable technology developed and used by DTCC minimises delays and downtime. Processing capacity is more than adequate to handle platforms' peak volumes.
  • Business continuity capabilities ensure that even during major disruptions, EuroCCP will remain operational.
  • Robust risk management means EuroCCP calculates and collects an appropriate amount of collateral to protect firms from each others' default.

Next: How the service works

EuroCCP is a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC).

More Information

EuroCCP's Service Overview provides a detailed description of EuroCCP's clearing and settlement process.

Clearing Fee Simulator The Clearing Fee Simulator can calculate estimated fees for clearing activity.

EuroCCP has prepared an overview of interoperability that outlines how it works, the nature of exposure between CCPs, and how this exposure can be managed.