Equity Clearing

Clearing Members may request the release of collateral if collateral is in excess of the margin requirement or the requirement for the Clearing Fund.

Oslo Clearing will consider the request for release of collateral, however Oslo Clearing may decide to retain collateral it reasonably considers necessary to ensure adequate margin coverage, to cover any liability the clearing member may have towards Oslo Clearing, hereunder related to any clearing member’s default(s) occurring prior to the request, or for other imperative reasons.

The request for release of margin collateral is implicit a request to issue a new margin requirement, reducing the required amount of collateral.

The request for release of collateral, cash or financial instruments must be submitted to Oslo Clearing on the Collateral Release form at clearing@osloclearing.no before 15:00 (CET) any clearing day.

Clearing members must indicate on the form the type of collateral to release and the amount of collateral they want to release.

For the release of collateral, the member must indicate the cash account that shall be debited the released amount.

Release of financial instruments in VPS requires that the member in addition specifies the individual instruments and the quantity they want to release in the VPS interface. Oslo Clearing will upon approval, release the specified instruments in the VPS application.

Should Oslo Clearing approve a partial release of collateral value only, then Oslo Clearing will require instructions from the clearing member on the instruments that shall have priority.

Release of collateral in Clearstream will be done through the instruction of a new margin requirement, instantaneously reducing the collateral value pledged to Oslo Clearing, thus partially releasing financial instruments from their pledged accounts.

Derivatives Clearing

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Guarantees

Any request to reduce the guarantee amount must be submitted to Oslo Clearing at rm@osloclearing.no for approval.

Guarantees that come to expiry will not be given any collateral value10 clearing days before the expiry date. Shall the clearing member rely on a guarantee arrangement past the expiry day, the member shall submit proof of a continuing guarantee arrangement, in order to receive for the collateral value of the expiring guarantee, until the expiry date.