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by Dismal-Jellyfish
Supply: public-inspection.federalregister.gov/2023-05351.pdf
The Extra Capital Premium (ECP) cost is a element of the Clearing Fund that’s designed to mitigate the heightened default threat a member might pose to NSCC if it operates with decrease capital ranges relative to its margin necessities.
From FiveEggHeads in one of many linked posts for background:
We’re placing a cap on extra capital, evaluating your positions based mostly on web, in case you are drowning, we aren’t going to return to the rescue and waive the premium prices like we did from January twenty eighth to February 1st, 2021.
The counterpoint that’s buried deep within the doc to waiving or decreasing the premium prices – they’ll settle for members place statements to find out the suitable prices to use, however even they name out in the event that they don’t have up to date statements they’ll use what they’ve obtainable.
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