CCPA evaluates the current economic and financial situation of each Clearing Member before and during its participation in the clearing system.

The creditworthiness of Clearing Members is assessed on the basis of their annual reports and information made available by them and includes the calculation of classical financial ratios.

Based on these ratios, the Clearing Member is assigned to a clearing category 1 to 5. Category 1 comprises companies with the highest and category 5 the companies with the lowest credit rating.

Financial Ratios

  • Equity ratio
  • Return on investment
  • Cash flow pursuant to the Company Reorganisation Act in percentage of operating income (from sales)
  • Fictitious debt redemption period pursuant to the Company Reorganisation Act

Collateral Risk Premiums

Risk categoryRisk premium
1 - 30 %
45 %
510 %