When examining the requirements for participation in the clearing of trades, the exchange operating company and CCPA shall collaborate. Within the context of the admission procedures and during the duration of exchange membership, the parties mentioned shall exchange any information required for determining that the conditions for admission and membership are met. Applicants are under the obligation to give CCPA any information required.
Requirements
Clearing Agents
- Proof about eligible own funds of at least EUR 50,000,000
- Concluded Clearing agent agreement with CCPA
- Setting up the technical equipment required for the respective category of clearing membership
- Professionally trained staff of the participant
- Paying the member fee of EUR 15,000
Clearing Members
- Proof about eligible own funds of at least EUR 5,000,000 (GCM) and EUR 2,500,000 (DCM)
- Forwarding the appraisal of creditworthiness documents:
- certified commercial register excerpt
- certified annual statements of account including notes and status report of the last three years
- and – if available – rating data of some of the following international accredited rating corporations: Standard & Poor’s, Moody’s or Fitch
- Concluded clearing agreement with CCPA
- Establishing cash and securities accounts
- Giving instructions to set up the required automatic debit/credit facility and have the required authorizations to sign as well as the pledge declarations;
- Setting up the technical equipment required for the respective category of clearing Membership,
- Paying the Default Fund contribution of EUR 250,000 (GCM) and EUR 50,000 (DCM)
- Belongs to one of the categories pursuant to § 2 Austrian Financial Collateral Act
- Professionally training the staff
Termination
In case you wish to terminate your existing contract with CCP Austria, please refer to our FAQ as well as the Checklist for Participation Termination for the necessary information.
Documents for New Members
If you are interested in a Clearing Participation or CCPA Membership, you may fill in the Contact Form and return it to office(a)ccpa.at. More information regarding Participation can be found in the Checklist for Participant Link, available in the Download Area below.