IRGiT (Commodity Clearing House) is responsible for the financial settlement of exchange transactions and the safety of markets settled by IRGiT.
Clearing and Settlement
IRGiT provides clearing and settlement activities for transactions concluded on the Polish Power Exchange, using modern information technology systems and their own settlement models. During the clearing process, all financial assets and financial liabilities for each transaction are established and combined, and the final balance determined. The settlement is concluded on the debiting or crediting of NCB accounts of both parties of exchange transactions.
The supply of electricity and gas is carried out by the specialized institutions of the Transmission System Operators for electricity and gas.
IRGiT fulfils a vital function for commodity exchanges and their participants. Their financial risk management serves to identify the risk associated with the market in general, and that involved with individual participants in particular. With the overall aim of improving security of the commodity markets listed on the Polish Power Exchange, IRGiT provides continuous monitoring of all of the market participants.