Equity Clearing

Clearing members are advised by e-mail every day that their ordinary margin requirement is available in the Oslo Clearing web application. Clearing members that have requested the MT503, will be advised of the margin requirement directly.

Clearing members that rely on several collateral agents, where JP Morgan or Clearstream Bank are collateral agents, must submit a collateral form to Oslo Clearing with the indication on how collateral shall be provided. The clearing member can decide on establishing a standard instruction, or may provide instructions each day, before 07:40 (CET).

Cash Collateral

Clearing members shall provide cash collateral by crediting their collateral accounts within the time due set by Oslo Clearing.

Cash Collateral is updated automatically in the Oslo Clearing web application 4 times during the clearing day: 06:30, 11:00, 13:45 and 15:00 (CET). Clearing members should instruct their payments with execution well ahead of 11:00 (CET), to ensure that the ordinary margin requirement is met timely.

For clearing members holding a cash account with JP Morgan, Oslo Clearing will instruct a direct debit instruction before 08:00 (CET). Any intra-day margin requirement will also, be instructed by Oslo Clearing, however the clearing member will be notified of the new margin requirement. The clearing member using JP Morgan as collateral bank shall only ensure that it has sufficient cash or available credit lines with JP Morgan to meet the margin requirements.

Financial instruments

Clearing members shall provide financial instruments by transfer to their securities accounts with VPS or Clearstream Bank.

The holdings of financial instruments in VPS are updated every 30 min. in the web application, starting 09:00 (CET).

For clearing members relying on holding interest rate instruments with Clearstream Bank, Oslo Clearing will instruct a pledge covering the margin requirement in NOK. Clearstream Bank will immediately place eligible interest rate instruments, or potentially cash on a pledged account in favor of Oslo Clearing.

The web application will be updated by Oslo Clearing to reflect the pledge.

Derivatives clearing

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Guarantees

Guarantees, either they shall apply for equity or derivatives clearing, are processed individually. Please contact Oslo Clearing directly at rm@osloclearing.no.