All entities which are Exchange members and still want to clear transactions they enter into, should be Clearing House members.
If an Exchange member does not want to be a Clearing House member, they will have to use the services of such a clearing member of the Clearing House who will give their consent to represent a given Exchange member in the Clearing House and who accepts the full responsibility for punctual managing of all liabilities – towards the Clearing House and the other members of the Clearing House – which results from the exchange commodity transactions the represented Exchange member entered into.
In addition – in force of the Act – other power companies must not be the representative.
The exchange members who satisfy the conditions listed in the conditions mentioned in the Clearing House Regulations can be the clearing members of the Clearing House.
The Clearing House members may only be:
- partnerships running the Exchanges,
- commodity brokerage houses,
- brokerage houses,
- national financial establishments other than those mentioned above, including especially, banks, if their membership is aimed at cooperation with the Clearing House within the scope of clearing of the transactions entered into on the exchange commodity markets,
- the power companies holding the Authority’s permission for keeping accounts or records of the exchange commodities, mentioned in Article 50b paragraph 1 subparagraph 2 of the Act,
- foreign legal entities, mentioned in Article 50 paragraph 1 of the Act, running brokerage activities (in the form of an affiliated branch) within the scope of trading in the exchange commodities in the territory of the Republic of Poland.
- companies running an exchange clearing house with their registered office in a member state of the European Union, the Swiss Confederation or in a member state of the European Free Trade Agreement (EFTA) – parties to the Agreement on the European Economic Area