The margin required is determined every exchange business day and separately calculated for customer accounts and proprietary trading accounts. What is analysed in the risk assessment is the default probability of the market participant.
Scope of risk management by OeKB
OeKB manages the collateral posted in favour of EXAA and, acting as EXAA’s agent, is responsible for collateral realisation and release.
The collateral must be posted for an indefinite period. EXAA is entitled to have unlimited and immediate recourse to the deposited collateral.
Trading participants can use the following types of instruments to meet their individual margin requirements:
- Bank guarantee
- Pledged securities
- Pledged cash denominated in euros
Details on the composition and the calculation of the collateral