Overview

EuroCCP offers two membership categories: General Clearing Participants (GCPs) and Direct Clearing Participants (DCPs). GCPs clear trades for themselves and for firms that are not EuroCCP members (Trading Participants or TPs). DCPs clear only for themselves.

The following entities are eligible to become a Clearing Participant, provided approval is obtained from the Risk Committee of EuroCCP in each case:

  1. Credit Institutions and banks established in a jurisdiction that is a member of the Financial Action Task Force (FATF);

  2. Investment firms established in a jurisdiction that is a member of the FATF;

  3. Legal entities whose members or shareholders have unlimited joint and several liability for their debts and obligations, provided that such members or shareholders are institutions or firms mentioned under (a) and/or (b) above; and

  4. Legal entities in a jurisdiction that is a member of the FATF and whose principal or sole object is the clearing of financial instruments.

Risk Management and Financials

In order to assess an applicant’s credit worthiness, EuroCCP requires applicants to provide certain financial information as part of their application process.  EuroCCP reviews current information on an ongoing basis throughout a firm's membership.

Financial information required by EuroCCP includes but is not limited to financial statements, information on a firm's executives and other general compliance information.