The "Unified Collateral Pool" technology allows Clearing Members to store collateral for transactions on the FX, stock, derivatives and standardised derivatives markets in a single account to reduce the costs of transactions on the markets of the Moscow Exchange Group by providing the Clearing Centre with unique clearing functionality:
A Unified Trading and Clearing Account of a Clearing Member (a set of accounts in all currencies, securities, precious metals) for managing Individual Clearing collateral (taking into account the segregation of own, client and control funds) on the securities, FX, derivatives and standardised derivatives markets.
Unified rules and procedures for the acceptance, evaluation and use of collateral on the securities, FX, derivatives and standardised derivatives markets.
All assets accepted as collateral for the fulfilment of obligations under transactions with partial collateral on the stock market are accepted as collateral recorded in the Settlement Account of the Unified Pool.
Optimisation of collateral requirements when offsetting multidirectional positions in one instrument on different markets where the Unified Pool Settlement Code is extended allows more efficient use of collateral.
Netting of obligations and claims from transactions concluded on the securities, FX, derivatives and standardised derivatives markets, using assets recorded in the Trading and Clearing Account of the Unified Pool.
The time of clearing sessions in the Settlement Account of the Unified Pool does not change and complies with the regulations of the relevant market.
* Netting is executed when settling trades executed on the FX, Securities and Derivatives markets.
Unified Collateral Pool Management
In order to manage Unified Collateral Pool via the trading systems the following shall be provided:
Application for an admission to the Clearing Terminal
In order to start working with the Unified Collateral Pool the requests for assigning "Unified Pool" feature to the Settlement Account and for changing scope of action of the Unified Pool Settlement Account can be generated and forwarded by Clearing members via the Clearing Terminal or EDI
Guidelines on how to work with the Unified Collateral Pool contain the following information:
How to create Unified Pool Settlement Account, add Settlement Account on the FX / Derivatives market
How to credit Unified Pool Settlement Account
How to withdraw cash funds from the Unified Pool Settlement Account
How to transfer cash funds between Settlement Accounts
How to transfer asset profile between markets
Information on transferring Asset Profiles between markets via the Unified Pool can be found in the Guidelines.
List of assets, which Profiles can be transferred between the Clearing System of the Securities market and the Clearing System of the:
List of assets, which Profiles can be transferred between the Clearing System of the Securities market and the Clearing System of the FX Market:
• cash funds in Russian rubles;
• cash funds in foreign currency, in which the conclusion of Trades on the FX market is possible;
• precious metals, in which the conclusion of Trades on the precious metals market is possible.
List of assets, which Profiles can be transferred to the FX market
updated on 10.04.2024
List of assets, which Profiles can be transferred between the Clearing System of the Securities market and the Clearing System of the Derivatives Market:
• cash funds in Russian rubles;
• cash funds in foreign currency, exchange rate of which is underlying asset of Derivative Contracts, execution of which is possible on the Derivatives market, and accepted as the way to secure fulfilment of obligations under Partially Secured Trades, recorded under Unified Pool Settlement Accounts;
• precious metals / securities, which are the underlying asset of Derivative Contracts, execution of which is possible on the Derivatives Market, and accepted to secure fulfilment of obligations under Partially Secured Trades, recorded under Unified Pool Settlement Accounts.
List of assets, which Profiles can be transferred to the Derivatives market
updated on 10.04.2024
List of assets, which Profiles can be transferred between the Clearing System of the Securities market and the Clearing System of the Standardised Derivatives Market:
• cash funds in Russian rubles;
• cash funds in foreign currency, in which the conclusion of Trades on the Standardised Derivatives Market is possible.
List of assets, which Profiles can be transferred to the Standardised Derivatives market market
updated on 10.04.2024