On Dec. 13, ECC announced membership fee invoicing to be quarterly.
ECC issued circular 69/2024 on changes to invoicing of membership fees for institution clearing members and DCP clearing members, effective from Apr. 1, 2025.
Overview
ECC will change the invoicing of membership fees for Institution Clearing Members (General Clearing Members and Direct Clearing Members) and DCP Clearing Members.
From Jan. 1, 2025, membership fees for Institution Clearing Members, DCP Clearing Members will be invoiced quarterly; also, provisions on refunding of membership fees for those members in case of termination of membership will be changed.
In event of a termination of the clearing license, membership fee will cease at the end of the quarter in which the termination of the clearing license of the Institution Clearing Members or the DCP Clearing Members has become effective.
Or the ECC Management Board has terminated the clearing license, provided that these events have occurred no later than one month before the end of the quarter.
Otherwise, the membership fee will cease at the end of the following quarter.
