IRGiT is expanding its international activity by sharing experience with the Ukrainian National Securities and Stock Market Commission (NSSMC) in organising clearing for the Polish electricity and gas exchange market.
- The NSSMC’s experts improved their knowledge in the field of financial clearing of commodity-related exchange transactions during a special training in Kiev.
The workshop “Financial clearing of commodity-related exchange transactions – case of IRGiT and TGE” took a place on January 18, 2022 with the participation of the representatives of the Clearing House of the Polish Commodity Market and the Polish Power Exchange.
“In line with the expectations of the NSSMC, we addressed mainly the aspects related to the operation of IRGiT in the non-CCP model. Our history shows that this model works very well in emerging markets, where, in addition to safeguard measures, need to focus on the costs of participation in the collateral system borne by market participants. We are convinced that learning about the experience of IRGiT and the Polish market will contribute to the selection of the optimal model of energy and gas market clearing by the Ukrainian side” said Łukasz Goliszewski, Vice-President of IRGiT.
During the workshop, the participants learnt about the international experience of their colleagues and discussed the following issues: structure of the Clearing House of the Polish Commodity Market and its role in the Polish electricity and gas market; cooperation of TGE with energy and financial regulators; difference between futures and forward contracts; how to ensure the right balance between the costs and security in the electricity and gas market.
The event was a part of an EU project “Assistance to the NSSMC in improvement of Ukraine's energy commodity markets and commodity products organized trading in Ukraine” and was organised exclusively for the representatives of the regulators.