IRGiT 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.
Our mission is to ensure safe and timely performance of transactions concluded by our clients. As a committed team, we work with the Polish Power Exchange to support development of exchange markets taking into account the needs of market participants.
We will develop and improve our offering, while taking into account international standards for clearing and expectations of our clients.
- Reliability and Safety – we develop our competencies as well as systems and procedures to complete tasks in a safe and reliable manner.
- Professionalism – we act effectively and with commitment, while complying with standards applicable to clearing chambers and continuing to improve quality of our services.
- Openness and Cooperation – we build our relations with clients based on best practices and ethical business principles and internal relations on the basis of an appropriate working atmosphere, kindness, support, knowledge sharing and building an integrated team of specialists.
- Responsibility – we are a sustainable organization open to new ideas and solutions. We observe the principles of corporate social responsibility. We draw strength from the diversity and commitment of our employees, developing our capabilities and competencies together.