The EMIR regulation mandates central clearing for standardized interest rate swaps (IRS) and index CDS. This obligation applies to financial and non-financial counterparties exceeding certain thresholds.

Eurex Clearing uses its proprietary Eurex Prisma methodology for margin calculation. This methodology notably enables cross-margining between listed and OTC derivatives, thus optimizing participants' collateral requirements.

The margin period of risk (MPOR) for equity transactions cleared by LCH SA EquityClear is 2 days. This period determines the calibration of initial margins and applies to transactions in equities, ETFs, and similar instruments traded on Euronext Paris, Brussels, Amsterdam, and Lisbon.

The confidence interval used for margin calculation on OTC derivatives markets is 99.5%. This reflects a higher level of conservatism compared to listed derivatives, which use a 99% confidence interval.

The liquidation period for OTC derivatives is generally longer than for listed derivatives. For example, it is 5 days for OTC derivatives compared to 1 to 3 days for listed derivatives, reflecting the lower liquidity of OTC instruments.

The monthly volume of transactions cleared by LCH SA RepoClear on bond and repo markets reaches approximately 13 trillion euros, illustrating the systemic importance of this activity.

CCPs significantly reduce credit risk on payment by guaranteeing the proper settlement of transactions. However, they do not completely eliminate it, as residual risk may remain in the event of the CCP itself defaulting.

The margin period of risk (MPOR) varies by market type. For example, cash equity markets have an MPOR of 2 days, while OTC derivatives have an MPOR of 5 days.