Dear Sir or Madam,
in connection with the announcement dated 26th of April 2022, please be advised that IRGiT S.A. (“IRGiT”, “Clearing House”) has completed the process of closing the open positions of the defaulting Clearing Member.
As a result of the process of closing open positions of the Clearing House Member there was no loss on his portfolio, i.e. the value of financial settlements does not exceed the level of collateral posted by this Clearing Member.
Consequently, there is no necessity to use the resources contributed by the other Clearing House Members to the guarantee fund, pursuant to § 43 section 1 of the Regulations of the Exchange Clearing House (Commodity Market).
The Clearing House will keep you updated about further significant actions taken in this matter.
Should you have any questions, do not hesitate to contact us:
Tomasz Wieczorek, Director of the IRGiT Risk Management Department
Łukasz Grządka, Deputy Director of the IRGiT Risk Management Department