Membership

Applicants for ICE Clear Netherlands membership are required under ICE Clear Netherland’s Clearing Rules to meet certain membership criteria (detailed in Rule 201(a)) at the time of application and thereafter whilst a clearing member. Membership requirements include, amongst other things:

holding sufficient capital;
being party to a Clearing Membership Agreement;
being a member of each relevant market that it wishes to clear;
holding all necessary regulatory authorisations, licenses, permissions and approvals;
having directors and officers being fit and proper;
having appropriate technical and operational systems and controls;
having appropriate business continuity procedures;
being able to meet margin requirements;
having contributed to the Guaranty Fund as appropriate; and
not being subject to insolvency or other event of default.
Each clearing member will be obliged to sign a Clearing Member Agreement with the clearing house which will include provisions pursuant to which the clearing house's rules become contractually binding to both the clearing member and clearing house.

ICE Clear Netherlands

Circulars

In addition, specific obligations to comply with relevant membership criteria and other membership obligations, to meet margin and Guaranty Fund requirements and to post collateral, will be included in the agreement.

Applications for clearing membership must be made in writing using ICE Clear Netherland’s standard documentation. Upon receipt of an application, ICE Clear Netherlands will liaise with the applicant to ensure that the application is complete and will undertake a due diligence exercise.