On HUPX spot markets European Commodity Clearing AG (ECC) provides clearing services since markets’ establishment. HUPX is continuously working on the improvement of its markets and cooperation has arrived at a new milestone now. To make joining spot markets easier, clearing services have been widened with the help of ECC, according to HUPX statement.
From 2023 July two types of clearing methods are available for our spot market members: the Non-Clearing Member model (NCM) and the Direct Clearing Participant (DCP) model, HUPX said in a statement.
DCP Clearing Member is a clearing member that has a DCP clearing license, provided by ECC upon request, after appropriate member readiness procedures and is exclusively entitled to clear own spot market transactions. For the financial settlement of transactions, the DCP Clearing Member has to open a settlement account at a settlement bank of his choice.
