Membership
General Requirements to Become a CCP SBNT Member:
- Be a participant in the BI-RTGS and BI-SSSS systems
- Actively operate and engage in banking activities as a commercial bank
- Have obtained approval from the relevant authorities to conduct SBNT Derivative Transactions
Additional Requirements to Become a General CCP SBNT Member:
- Submit a copy of the agreement between the General CCP SBNT Member and the customer
- Submit a letter of statement agreeing to transfer collateral and/or clearing contract positions of CCP to other General CCP SBNT Members based on the Portability Agreement
Requirements to Become an Individual CCP SBNT Member:
- Submit an application letter along with supporting documents
- Submit a letter of statement agreeing to meet the CCP SBNT membership requirements
- Pay the membership registration fee as determined by IDClear
- Sign the Clearing and Guarantee Agreement
- Pay the initial Default Fund Contribution, Membership Fee, and Minimum Cash Maintenance as determined by IDClear
- Have risk management procedures and policies related to SBNT Derivative Transaction activities
- Have the infrastructure to support operations and risk control related to Clearing and Settlement of SBNT Derivative Transactions
- Submit PIC data related to compliance supervision, clearing operations, and treasury functions
- Attend training sessions related to clearing operations and settlement of SBNT derivative transactions