Izba Rozliczeniowa Giełd Towarowych S.A. (IRGiT, Clearing House) is an institution responsible for the financial clearing of exchange transactions and the security of the markets cleared by it.
Currently, the Clearing House clears and settles transactions executed on the TGE, using state-of the-art IT systems and proprietary settlement models. IRGiT ensures the complete security of trading on the TGE through its clearing guarantee system. The system solutions and control procedures implemented by IRGiT effectively protect market participants against all risks, including those related to the insolvency of exchange participants. Every day, IRGiT processes transactions executed by its more than 50 direct members and over 200 clients of brokerage houses cooperating with 10 banks.
The following are IRGiT’s two lines of business:
- clearing and settlement of financial instruments in the Clearing and Settlement House within the meaning of the Act on Trading in Financial Instruments, based on a permit issued by the Polish Financial Supervision Authority (KNF) on 19 April 2010,
- provision of financial services related to exchange commodities and wholesale energy products in the Exchange Clearing House within the meaning of the Act on Commodity Exchanges, based on a notification submitted on 19 April 2010 pursuant to Article 68a(14) of the Act on Trading in Financial Instruments.