IRGiT S.A. is an institution responsible for secure clearing and settlement of transactions concluded on commodity and financial markets functioning on the trading platforms operated by the Polish Power Exchange. During the clearing process, IRGiT S.A. determines the value of liabilities and receivables resulting from each concluded transaction, sets the required collateral levels and automatically credits or debits bank accounts of the parties to the transactions.
In the risk management system, IRGiT S.A. manages every risk that is material from the point of view of the clearing house, including, among others:
- market risk,
- credit risk,
- liquidity risk,
- operational risk.
As part of its activities, IRGiT S.A. continuously monitors the market standing, exposure to risk and financial stability of Clearing House Members. IRGiT S.A. is also responsible for investing the resources accumulated in the Guarantee Fund while ensuring the highest level of their safety. Transaction clearing in IRGiT S.A. guarantees that they will always be executed on the initial terms specified when they were concluded. For this reason, IRGiT S.A. plays the key role in the safe functioning of the Polish commodity exchange market.
In order to fulfill its responsibility of ensuring safety of the clearing process, the Clearing House maintains the clearing guarantee system. The clearing guarantee system consists of, among others transaction margins, collateral margins and the Guarantee Fund.
The individual elements of the system are discussed in greater details on the relevant sub-sites.
Pursuant to the provisions of the Detailed Rules of Clearing and Settlement, IRGiT Members and clients of Brokerage Houses that are IRGiT Members may post non-cash collateral.
IRGiT offers calculators designed to help in estimating and forecasting the required margins, in accordance with the applicable regulations and risk parameters.
Check the current risk parameters for contracts.