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Overview

Risk Management

Dubai Clear LLC has a robust risk management framework to support its functions as a central counterparty (CCP). Members are required to post margins for all trades accepted for clearing by Dubai Clear. The Dubai Clear’s margin methodology is based on VaR (Value at Risk) margining on a 99% confidence interval. Dubai Clear also adopts stress testing and backtesting models to ensure adequacy of margin requirements.

Risk Management

Margins

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Dubai Clear has set a fully-funded settlement default fund comprising its own contribution and also contributions from clearing members to be used in case of an event of default.

Dubai Clear has the following types of margins:

  • Initial Margin

  • Variation Margin

  • Fails Margin

  • Additional Margins

For further information, please refer to the ‘Margin Policy’ within the Regulations, Policies & Procedures.

Risk Management

Collateral Management

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Dubai Clear has a collateral management framework in place to accept approved collateral types approved by the regulator. Dubai Clear accepts only quality collateral with low credit, liquidity and market risks. Clearing Members and Settlement Agents can deposit collaterals with the CCP in the following types:

  • Cash Collateral

  • Bank Guarantee

  • Securities

For further information, refer to the ‘Collateral Policy’ within the Regulations, Policies & Procedures.

Risk Management

Margin Parameters

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Dubai Clear will publish margin rates for each security eligible for clearing. Margins are calculated using statistical methods using VaR margining on a 99% confidence interval. For the latest margin rates, please refer to the below:

Equity Margin Parameters:

Issue Date:

Title:

15/04/2024Equity Margin Parameters Rates with effect from 15th April 2024
21/03/2024Equity Margin Parameters Rates with effect from 21st March 2024
11/03/2024Equity Margin Parameters Rates with effect from 11th March 2024
09/02/2024Equity Margin Parameters Rates with effect from 09th February 2024
26/01/2024Equity Margin Parameters Rates with effect from 26th January 2024
09/01/2024Equity Margin Parameters Rates with effect from 09th January 2024
11/12/2023Equity Margin Parameters Rates with effect from 11th December 2023
07/12/2023Equity Margin Parameters Rates with effect from 7th December 2023
09/11/2023Equity Margin Parameters Rates with effect from 9th November 2023
09/10/2023Equity Margin Parameters Rates with effect from 9th October 2023
11/09/2023Equity Margin Parameters Rates with effect from 11th September 2023
09/08/2023Equity Margin Parameters Rates with effect from 9th August 2023
27/07/2023Equity Margin Parameters Rates with effect from 27th July 2023
10/07/2023Equity Margin Parameters Rates with effect from 10th July 2023
09/06/2023Equity Margin Parameters Rates with effect from 9th June 2023
09/05/2023Equity Margin Parameters Rates with effect from 9th May 2023
10/04/2023Equity Margin Parameters Rates with effect from 10th April 2023
06/04/2023Equity Margin Parameters Rates with effect from 6th April 2023
09/03/2023Equity Margin Parameters Rates with effect from 9th March 2023
09/02/2023Equity Margin Parameters Rates with effect from 9th February 2023
09/01/2023Equity Margin Parameters Rates with effect from 9th January 2023
09/12/2022Equity Margin Parameters Rates with effect from 9th December 2022
29/11/2022Equity Margin Parameters Rates with effect from 29th November 2022
15/11/2022Equity Margin Parameters Rates with effect from 15th November 2022
08/11/2022Equity Margin Parameters Rates with effect from 8th November 2022
07/10/2022Equity Margin Parameters Rates with effect from 7th October 2022
29/09/2022Equity Margin Parameters Rates with effect from 29th September 2022
08/09/2022Equity Margin Parameters Rates with effect from 8th September 2022
05/08/2022Equity Margin Parameters Rates with effect from 5th August 2022
18/07/2022Equity Margin Parameters Rates with effect from 18th July 2022
07/07/2022Equity Margin Parameters Rates with effect from 7th July 2022
05/07/2022Equity Margin Parameters Rates with effect from 5th July 2022
08/06/2022Equity Margin Parameters Rates with effect from 8th June 2022
11/05/2022Equity Margin Parameters Rates with effect from 11th May 2022
11/04/2022Equity Margin Parameters Rates with effect from 12th April 2022
08/04/2022Equity Margin Parameters Rates with effect from 8th April 2022
08/03/2022Equity Margin Parameters Rates with effect from 8th March 2022
08/02/2022Equity Margin Parameters Rates with effect from 8th February 2022
07/01/2022Equity Margin Parameters Rates with effect from 7th January 2022
09/12/2021Equity Margin Parameters Rates with effect from 9th December 2021
07/11/2021Equity Margin Parameters Rates with effect from 7th November 2021
07/10/2021Equity Margin Parameters Rates with effect from 7th October 2021
08/09/2021Equity Margin Parameters with effect from 8th September 2021
08/08/2021Equity Margin Parameters with effect from 8th August 2021
08/07/2021Equity Margin Parameters with effect from 8th July 2021
08/06/2021Equity Margin Parameters with effect from 8th June 2021
06/05/2021Equity Margin Parameters with effect from 9th May 2021
08/04/2021Equity Margin Parameters with effect from 8th April 2021
08/03/2021Equity Margin Parameters with effect from 8th March 2021
07/02/2021Equity Margin Parameters with effect from 7th February 2021
10/01/2021Equity Margin Parameters with effect from 10th January 2021
10/12/2020Equity Margin Parameters with effect from 10th December2020
08/11/2020Equity Margin Parameters with effect from 8th November 2020
08/10/2020Equity Margin Parameters with effect from 8th October 2020
09/09/2020Equity Margin Parameters with effect from 9th September 2020
09/08/2020Equity Margin Parameters with effect from 9th August 2020 
08/07/2020Equity Margin Parameters with effect from 8th July 2020
07/06/2020Equity Margin Parameters with effect from 7th June 2020
10/05/2020Equity Margin Parameters with effect from 10th May 2020
12/04/2020Equity Margin Parameters with effect from 12th April 2020

15/03/2020

Equity Margin Parameters with effect from 15th March 2020


Derivatives Margin Parameters:

Issue Date:

Title:

15/04/2024Derivatives Margin Parameters with effect from 15th April 2024
11/03/2024Derivatives Margin Parameters with effect from 11th March 2024
09/02/2024Derivatives Margin Parameters with effect from 9th February 2024
09/01/2024Derivatives Margin Parameters with effect from 9th January 2024
11/12/2023Derivatives Margin Parameters with effect from 11th December 2023
09/11/2023Derivatives Margin Parameters with effect from 9th November 2023
09/10/2023Derivatives Margin Parameters with effect from 9th October 2023
11/09/2023Derivatives Margin Parameters with effect from 11th September 2023
09/08/2023Derivatives Margin Parameters with effect from 9th August 2023
10/07/2023Derivatives Margin Parameters with effect from 10th July 2023
09/06/2023Derivatives Margin Parameters with effect from 9th June 2023
29/05/2023Derivatives Margin Parameters with effect from 29th May 2023
09/05/2023Derivatives Margin Parameters with effect from 9th May 2023
10/04/2023Derivatives Margin Parameters with effect from 10th April 2023
09/03/2023Derivatives Margin Parameters with effect from 9th March 2023
09/02/2023Derivatives Margin Parameters with effect from 9th February 2023
09/01/2023Derivatives Margin Parameters with effect from 9th January 2023
09/12/2022Derivatives Margin Parameters with effect from 9th December 2022
08/11/2022Derivatives Margin Parameters with effect from 8th November 2022
07/10/2022Derivatives Margin Parameters with effect from 7th October 2022
08/09/2022Derivatives Margin Parameters with effect from 8th September 2022
05/082022Derivatives Margin Parameters with effect from 5th August 2022
07/07/2022Derivatives Margin Parameters with effect from 7th July 2022
27/06/2022Derivatives Margin Parameters with effect from 27th June 2022
13/06/2022Derivatives Margin Parameters with effect from 13th June 2022
08/06/2022Derivatives Margin Parameters with effect from 8th June 2022
01/06/2022Derivatives Margin Parameters with effect from 1st June 2022
11/05/2022Derivatives Margin Parameters with effect from 11th May 2022
08/04/2022Derivatives Margin Parameters with effect from 8th April 2022
08/03/2022Derivatives Margin Parameters with effect from 8th March 2022
08/02/2022Derivatives Margin Parameters with effect from 8th February 2022
07/01/2022Derivatives Margin Parameters with effect from 7th January 2022
09/12/2021Derivatives Margin Parameters with effect from 9th December 2021
07/11/2021Derivatives Margin Parameters with effect from 7th November 2021
07/10/2021Derivatives Margin Parameters with effect from 7th October 2021
19/09/2021Derivatives Margin Parameters with effect from 19th September 2021
08/09/2021Derivatives Margin Parameters with effect from 8th September 2021
08/08/2021Derivatives Margin Parameters with effect from 8th August 2021
08/07/2021Derivatives Margin Parameters with effect from 8th July 2021
08/06/2021Derivatives Margin Parameters with effect from 8th June 2021
06/05/2021Derivatives Margin Parameters with effect from 9th May 2021
18/04/2021Derivatives Margin Parameters with effect from 18th April 2021
08/04/2021Derivatives Margin Parameters with effect from 8th April 2021
08/03/2021Derivatives Margin Parameters with effect from 8th March 2021
07/02/2021Derivatives Margin Parameters with effect from 7th February 2021
10/01/2021Derivatives Margin Parameters with effect from 10th January 2021
10/12/2020Derivatives Margin Parameters with effect from 10th December 2020
08/11/2020Derivatives Margin Parameters with effect from 8th November 2020
18/10/2020Derivatives Margin Parameters with effect from 18th October 2020