All references to time are to Central European Time (CET).
T = Trading Day
T+1 = First settlement day following the trading day
|06:00 T||Start of Clearing Hours|
|19:00 T||End of Clearing Hours|
|21:00 T||A net settlement amount arising from the Mark-to-Market Settlement, Delivery Period Settlement, Premium Settlement, Option Exercise Settlement and Fee Settlement is calculated.|
|22:00 T||NOS instructs the Settlement Bank to credit or debit the Collateral and Settlement Account for the net settlement amount.|
|23:00 T||End of day Margin Requirement and minimum Cash requirement to be posted on T+1 are calculated (Margin deficit or Cash deficit are referred to as Margin Call and Cash Call respectively).|
|23:00 - 24:00 T||Clearing Reports are made available to the Clearing Member on the NOS Web Office. The Clearing Reports are made available at latest 06:00 T+1.|
|15:00 T+1||Final time for posting of Collateral to cover the end of day Margin Requirement and Cash requirement.|
|19:00 T+1||Final time for making written complaints to NOS regarding Cleared Contracts.|
NOS may in its sole discretion Clear trades outside Clearing Hours.
Our Clearing Calendar is here.