Declaration of Transaction limit dedicated to the IDM (XBID) is carried out by Members in accordance with the following rules:
- Member determines the value in Polish zlotys of cash pledged to the transaction deposit account to determine the value of Transaction limit dedicated to the IDM (XBID).
- Declaration of cash pledged for the Transaction limit dedicated to the IDM shall be made by sending an e-mail with completed form by person authorized to contact IRGiT to the following addresses: Risk Management Department ( @email ) and the The Clearing and Settlement Department ( @email ). The declaration is permanent - it means that it will be binding until it is canceled or changed and the Member is not obliged to set new limit before each subsequent day. Declarations submitted on non-working day will be considered on the first business day following that day.
- IRGiT will confirm correctly declared values of Transaction limit dedicated to the IDM (XBID) in Polish zlotys by e-mail. These values will also be included in the Collateral Pledged Report.
- Due to the fact that transactions on the XBID market are concluded in EUR, IRGiT will convert the declared value of Transaction limit dedicated to the IDM in Polish zlotys into EUR. The conversion will take place in accordance with the algorithm described as in the Detailed clearing rules for the markets operated by TGE S.A. The value of the EUR/PLN exchange rate at which the conversion has been made will also be included in the Collateral Pledged Report.
- The value of Transaction limit dedicated to the IDM converted into EUR will be transferred to the trading system of Polish Power Exchange S.A.