Amendments to IRGiT’s regulations – new financial instruments cleared in the Clearing and Settlement House operated by IRGiT

Amendments to IRGiT’s regulations – new financial instruments cleared in the Clearing and Settlement House operated by IRGiT.

  • Izba Rozliczeniowa Giełd Towarowych S.A. (“IRGiT”) has amended the Regulations of the Clearing and Settlement House and the Regulations of the Guarantee Fund of the Clearing and Settlement House.
  • In cooperation with Towarowa Giełda Energii S.A. (Polish Power Exchange, “PPE”), IRGiT is preparing to launch trading in Emission Allowances and forward contracts for property rights under certificates of origin.
  • The amendments will enter into force on 3 June 2019.

They are intended to align the Regulations to the applicable provisions of the Act on Trading in Financial Instruments, in consideration of the implementation of MiFID II.

The introduction of these amendments will enable IRGiT to provide services in the areas of clearing and settlement of transactions involving:

1) CO2 emission allowances executed on the Financial Instruments Market operated by the PPE, and

2) forward contracts for property rights under certificates of origin executed on an organized trading facility (“OTF”) scheduled to be launched by the PPE after obtaining the pertinent permit.