| Clearing day process and the scope of information provided to participants |
| No. |
Task |
Activities |
| 1. |
Payment of amounts arising from calculated credits and debits in respect of maintenance margins for cash market transactions, derivatives market transactions, daily mark-to-market, option premiums, the clearing fund, the ATS guarantee funds, and additional margins. |
Debit transfers by 8:15,
credit transfers by 9:15
|
2.
|
On-line monitoring of the transaction limit of clearing members, currently calculated values of maintenance margins, values of daily mark-to-market and option premiums. |
After the opening of an exchange trading session from 8:30 to 17:30
|
3.
|
Regular clearing session for transactions covered by KDPW_CCP guarantees.
|
Processing starts at 18:30 (Appendix 4 to KDPW_CCP Detailed Rules of Operation)
|
4.
|
Provision of post-clearing reports.
|
Clearing members receive messages containing:
1) information on calculated maintenance margins for the cash and derivatives market under SPAN methodology;
2) information on calculated maintenance margins for the derivatives market under MPKR (Portfolio Risk Calculation Model) methodology;
3) information on contributions to the clearing fund and the ATS guarantee fund calculated under SPAN methodology;
4) information on additional margins;
5) information on calculated daily mark-to-market for derivative contracts and option premiums;
6) information on preliminary payment balances at the transaction date for cash market transactions. |