Clearing and invoicing

IRGiT offers clearing and settlement services of transactions, provided by The Clearing and Settlement Department (DRR).

As a consequence of the clearing of transactions which have been entered into on the Polish Power Exchange, based  on the system delivered by NASDAQ OMX, the DRR establishes the value of cash flows by the right of delivery of exchange commodities as well as by the right of updating the required collateral.At the same time, within the framework of providing the clearing services, IRGiT assumes entire responsibility for the reliable execution of payments as well as the physical delivery of the commodities, which have been purchased by the Clearing Members.

All the settlements carried out within the framework of the clearing process are documented through the act of invoicing. The invoicing schedule is consistent with the schedule of the cash settlements being carried out.

IRGiT offers also – free of charge – the self-billing service that provides access – through the Invoicing Platform (platform for Making Invoices Available) – to all invoices which have been issued.