Acquisition of membership:
- File the application for concluding the agreement on clearing participation in the clearing and settlement house, and attach the documents mentioned in the application.
- The conclusion of the agreement on participation in the clearing and settlement house, according to a resolution by the IRGiT Management Board and passed in 2 weeks from the date when the application and all the attachments were filed.
Types of participation:
Clearing members- members acting out of self-interest or acting out of other members of the Clearing House. The Clearing Members may act as follows:
- companies running regulated securities market;
- companies running ATS (Alternative Trading System);
- investment firms;
- other financial institutions than those specified in point 1 and 2, in particular banks, if such participation is aimed at cooperation with the Clearing House within the scope of clearing transactions concluded in the Financial Market;
- the foreign investment companies and foreign legal persons conducting brokerage activities within the territory of Poland and acting in the form of a branch office.
Non-clearing members - the Exchange members for whom IRGiT keeps the recording accounts in appropriate registers and who may retainother members of IRGiT to take care of clearing of their entered transactions within the framework of representation agreements.
The Clearing Members may act on the Market in Financial Instruments as follows:
- acting out of self-interest, where the Clearing Members accepts liabilities for fulfilling obligations arising from clearing transactions concluded by the Members out of their self-interest;
- acting out of a client’s interest, where the Clearing Members accepts liabilities for fulfilling obligations arising from clearing transactions concluded by the Member’s client or by another entity;
- the representative of an Exchange member, where the Clearing Member accepts liabilities for fulfilling obligations arising from clearing transactions concluded by another entity.