15 October 2025
Mandatory testing of the key aspects of the default procedures
On 3-4 November 2025 we will conduct, with the involvement of market participants, testing of the key aspects of the default procedures relating to obligations arising from transactions accepted for clearing in the clearing system for transactions concluded in organised trading and in the OTC clearing system (non-organised trading).
The test, which is part of the CCP Global International Default Simulation (CIDS) 2025 Exercise, is designed to check the solutions and procedures established by KDPW_CCP, check whether all clearing members and other interested parties are duly informed about the trade clearing default procedures, and whether the solutions implemented by the clearing members enable them to respond appropriately.
Under the Rules of Transaction Clearing (organised trading) and the Rules of Transaction Clearing (non-organised trading) every clearing member has the obligation to participate in testing organised by KDPW_CCP. The detailed test timetable and the exhaustive test assumptions and scenarios will be distributed no later than two weeks before the date of the test.
The test, which is part of the CCP Global International Default Simulation (CIDS) 2025 Exercise, is designed to check the solutions and procedures established by KDPW_CCP, check whether all clearing members and other interested parties are duly informed about the trade clearing default procedures, and whether the solutions implemented by the clearing members enable them to respond appropriately.
Under the Rules of Transaction Clearing (organised trading) and the Rules of Transaction Clearing (non-organised trading) every clearing member has the obligation to participate in testing organised by KDPW_CCP. The detailed test timetable and the exhaustive test assumptions and scenarios will be distributed no later than two weeks before the date of the test.
