SIX x-clear Ltd currently operates on different trading platforms in interoperability with other CCPs. Risk exposures based on interoperability occur in markets where more than one CCP is active.
To safeguard against systemic risks, regulatory bodies request additional and independent collateral for inter-CCP liabilities from all interoperable central counterparties (CCPs).
In order to ensure that inter-CCP liabilities can be covered at all times and that operational as well as administrative costs are kept to a minimum for our clients, SIX x-clear Ltd has created a permanent inter-CCP fund.
SIX x-clear Ltd reserves the right to request additional participant contributions in case of peaks (e.g. triple witching days) exceeding the fixed component of the fund, as necessary.