The purpose of the clearing guarantee system is to ensure safety of transaction clearing and settlement for all Clearing House Members acting on the markets cleared by IRGiT.
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Each Clearing House Member provides collateral that reflects the scale of risk to which the clearing guarantee system is exposed on account of the transactions it clears.
Components of the clearing guarantee system
Collateral Margins
Collateral Margins are the main component of the clearing guarantee system for forward markets.
Transaction Margins
The Clearing Members are obliged to maintain resources designed for the collateralization of cash settlements in the form of the Transaction Margin.
Guarantee Fund
The Guarantee Fund is an element of the settlement guarantee system, which ensures the security of settlements even in the event of extreme market conditions.