Default Management

Financial default occurs if the Clearing Member fails to meet by the applicable deadline the margin, default fund contribution requirement or the financial settlement requirement arising from the monthly preliminary and the monthly closing.

Once default is established KELER CCP takes steps without delay to suspend the trading right of the defaulting Clearing Member and starts to take the available collaterals in line with the sequence of use stated in the General Business Rules.

Once default is closed KELER CCP calculates and collects the default fees.