Membership in the Exchange Clearing House
In order to become a member of the Exchange Clearing House an Application for the conclusion of a membership agreement to the Clearing House should be submitted and an appropriate agreement with the bank that acts as the Clearing House Member's Payer Bank (list of banks) should be concluded.
Conclusion of the ECH membership agreement or conclusion of an agreement with an entity that acts as the Exchange Member's Representative in the Exchange Clearing House is one of the conditions for admission to operation on TGE markets cleared by ECH. TGE markets cleared by IRGiT can be found here.
Detailed information on the membership in TGE can be found here.
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,
- power companies holding the Polish Financial Supervision Authority (KNF) permission for keeping accounts or records of the exchange commodities, mentioned in Article 50b paragraph 1 subparagraph 2 of the Act on Commodity Exchange,
- foreign legal entities, mentioned in Article 50 paragraph 1 of the Act on Commodity Exchanges, running brokerage activities (in the form of an affiliated branch) within the scope of trading in the exchange commodities on 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.