Each participating Clearing Member is obligated to deposit the clearing collateral and, in addition, to contribute the specified amount to the default fund maintained by CCP.A. The Default Fund contribution is calculated based on a minimum amount and a dynamic component.

The minimum contribution amounts to

  • GCMs EUR 250.000,00
  • DCMs EUR   50.000,00

The dynamic component is based on the respective exposures of each Clearing Member and is determined by the exact calculation rule "Public information on Default Fund Calculation" for the contribution to the default fund.

The specified amount must be provided to CCP.A in the form of a euro cash deposit and shall serve exclusively to cover open liabilities in the event of default that cannot be covered fully by the own clearing collateral or the amount contributed to the default fund by the defaulting party.

Information about the realization can be found in the document "Default Waterfall"

Negative Interest Rates on Cash Deposits with OeNB

  • Current interest rate: -0,5 % p.a.

In accordance with the EMIR requirement and CCP Austria's Investment Policy, Euro cash deposits shall be held with the Austrian National Bank (OeNB).

The OeNB is charging a negative interest rate to CCP Austria for cash deposits from default fund contributions which currently amounts to -0,5 % p.a. and which we collect in the course of the monthly fees from the Clearing Participants.

Please find the most current interest rates here