On 12 December 2018 the Warsaw Commodity Clearing House (IRGiT) became a member of the Association of Futures Markets (AFM). The prime objective of the Association is to promote and encourage the establishment of new derivative markets and to support their development and competition in such markets. AFM is an international platform for exchange of experiences and best practices between commodity and financial exchanges and clearing houses across the globe.
One of our main business objectives is to provide the Clearing House Members with an optimum offer regarding clearing and transaction collaterals. AFM membership will give IRGiT faster access to current trends in the area of organization of the exchange trading, clearing and transaction collaterals and risk management models. We believe that the possibility of sharing experiences at the forum of the Association of Futures Markets will enable us to broaden and improve our offering – said Andrzej Kalinowski, President of the Management Board of IRGiT.
Members of the Association look forward to working together with IRGiT and share experiences and practices with AFM new member organization from Poland – said Kristina Kasza, Member of the AFM Executive Board.
Izba Rozliczeniowa Giełd Towarowych S.A. (IRGiT) is a company licensed by the Polish Financial Supervision Authority, responsible for clearing and transaction collaterals in the commodity market in Poland. From 2010 IRGiT has been clearing all spot and futures markets for electricity, gas and property rights operated by the Polish Power Exchange and is responsible for collateralizing these markets by organizing a clearing guarantee system. From 2012 IRGiT has been a member of the Warsaw Stock Exchange Group. The Commodity Clearing House is a member of EACH – European Association of CCP Clearing Houses. For more information visit: www.irgit.pl
Association of Futures Markets (AFM) is an organization bringing together commodity exchanges and clearing houses, established in 1998. The associations has the following direct members: Agricultural Commodities Exchange of Africa, Belarusian Universal Commodity Exchange, KELER CCP, Budapest Stock Exchange, CQG, Euronext, Indonesian Commodity and Derivatives Exchange, Iran Mercantile Exchange, Warsaw Commodity Clearing House (IRGiT), Jakarta Futures Exchange, Johannesburg Stock Exchange, Mercado a Término de Buenos Aires, Nairobi Securities Exchange, Pakistan Mercantile Exchange, Polish Power Exchange (TGE), Romanian Commodities Exchange, Rosario Futures Exchange, Securities and Trading Technology, Sofia Commodity Exchange, International Commodities and Derivatives Association, Taiwan Futures Exchange, Thailand Futures Exchange and affiliate members: Nepal Mercantile Exchange, Federation of Euro-Asian Stock Exchanges, GMEX Group, HUPX Hungarian Power Exchange Ltd. For more information visit: www.afmorg.net