2023 Annual Default Simulation Test

Dear Clearing Members,

We hereby inform you that the 2023 annual simulation default management test will be held by KELER CCP on November 13-16, 2023.

This year, the default test is organized by the global association of clearing houses, The Global Association of Central Counterparties (CCP Global), in which all EU clearing houses shall participate.

During the simulation default test, KELER CCP will simulate a hypothetical clearing member’s default. During the execution of the test, KELER CCP expects the active participation of market participants during the execution of certain steps of the test. In this regard, we will contact the relevant participants in advance.

The implementation of the simulation default test is based on the regulation on clearing houses (Commission delegated regulation (EU) No 153/2013).