Clearing Members and Clearing Clients

Before taking up clearing activities every Clearing Member must enter into a Clearing Agreement with CCP Austria.

Clearing Clients participate indirectly in the settlement and have basically no intrinsic contractual relationship with CCP Austria. They use the services of a Clearing Member for the clearing and separate processing of their transactions.

Clearing Agreement with a Clearing Member (CM) - sample
Annexes to the Clearing Agreement with a Clearing Member (CM) - sample
Declaration of a Clearing Service Agreement between a Clearing Member (CM) and a Non-Clearing Member (NCM) - sample
Declaration of a Client Service Agreement between a Clearing Member (CM) and a Registered Client (RC) - sample

 

Clearing Agents  

CCP Austria may also authorize Clearing Agents to process and forward instructions between CCP Austria and Clearing Members. Furthermore, CCP Austria may permit the administration of the clearing collateral by a Clearing Agent, restricted to the group of Agent Clients of the Agent.

Clearing Agent Agreement - sample
Clearing Agent Declaration - sample 

 

When a Clearing Member commissions a Clearing Agent, the Clearing Agent is responsible for the technical connectivity as well as for opening the needed cash and securities accounts for the Clearing Member. Accordingly, the Annexes to the Clearing Agreement with the Clearing Member are to be completed and signed by the Clearing Agent.

Clearing Agreement CM with Clearing Agent - sample
Annexes to Clearing Agreement CM with Clearing Agent - sample

 

Payment Agents

Clearing Members that utilize a Payment Agent to support the settlement of their transactions have to provide a Payment Agent Declaration, in which the Payment Agent commits himself to support payments.

Payment Agent Declaration - sample

 

Withdrawal of the authorization regarding collateral/default fund

The Annex ./5 of the Annexes to the Clearing Agreement empowers CCP Austria to collect claims by direct debit regarding collateral/default fund. This annex is optional and can be withdrawn if necessary. However, we would like to point out that this authorization represents a considerable time saving in the clearing process for both, the Member and CCP Austria.

The form for the withdrawal of this authorisation shall be returned signed to office(a)ccpa.at and in the original by post.

F3 - Form regarding the withdrawal of Annex 5 (Clearing Member)
F4 - Form regarding the withdrawal of Annex 5 (Clearing Member with Clearing Agent)
F5 - Form regarding the withdrawal of Annex 5 (Clearing Member with Clearing Client)