Gas market

Gas Market Clearing Member
Definition The Gas Market Clearing Member has trading right, it is entitled to trade and clear trades for own account.
Clearing membership in the Trading Platform is the condition of CEEGEX market clearing membership.
Liability The Gas Market Clearing Member is liable to KELER CCP for the settlement of all the transactions it clears.
Legal relationship The Gas Market Clearing Member has direct legal relationship with KELER CCP, thus in case of default by other Clearing Members it can make use of the guarantee undertaking by KELER CCP.
Capital requirement

HUF 75 million, uniformly on all markets.


Admission as a Clearing Member
Clearing membership
Admission to KELER CCP
Bank Account Opening
Admission at the Settlement Bank
Contact KELER CCP sales Choose a Settlement Bank
Follow the admission process, complete the KYC Follow the admission process
Collect and provide the admission documents Account opening
Application approval Informing KELER CCP about the settlement bank account opening


To become a Clearing Member the following documentation is required:

Clearing membership admission documents
"Know Your Customer" (KYC) Questionnaire
• KYC registration form
• Completed KYC questionnaire, which includes the audited report as well as a document presenting the ownership structure
Gas market clearing membership agreement
Fully completed Basic Information form
Data Registration Form for the Client's authorized representatives, proxies, other representatives
Fully completed and duly signed Beneficial Owner Declaration
Excerpt from the Trade Registry, copy, not older than 30 days
A copy of the signature specimen of the representative authorized to sign
A document certifying that clearing member has given an authorization to contact KELER CCP (in case of proxy)

Copies of ID cards / Passports of all persons who sign the forms

In case of a Hungarian citizen
• a copy of an identity card and address card
• or a copy of a driver's license and address card
• or a copy of passport and address card

In case of a foreign - non-Hungarian
• copy of passport
• or copy of identity card (accepted for EU citizens)

Proof of registered tax number
Bank account agreement with a Settlement bank


Please contact  or your Key Account Manager at KELER CCP for further details (e.g. number of copies, address to post the documents).

Onboarding video
The detailed onboarding process is presented step by step in the video below


Potential clearing member indicates 

its intention to join


Contact KELER CCP Client Relations:

KELER CCP sends all the necessary info 

to the potential clearing member via e-mail

1. Pre-conditions of clearing membership (gas network system user agreement, 

account opening at one of the settlement banks etc.)


2. Reqiured documents to obtain clearing membership, substansive and formal conditions (check list)


3. Other terms of cooperation (colllaterals,

default fund contributions, deadlines etc.)

Potential clearing member contacts FGSZ, 

chooses trading platform(s)

Potential clearing member contacts FGSZ 

to sign the gas network system user agreement. 

In case of intention of joining an exchange/trading 

platform as well, potential clearing member 

initiates the client onboarding process 

with the selected exchange/trading platform. 


FGSZ operates its independent onboarding process,

and it should be completed 

before the onboarding process of KELER CCP!

Potential clearing member contacts 

the selected settlement bank

Potential clearing member contacts  the settlement bank  and signs the settlement account opening agreements 

and  triparty cooperation agreement.


Settlement banks operate their ndependent onboarding process,

and it should be completed 

before the onboarding process of KELER CCP!

Clarification phase

Contact KELER CCP Client Relations in case of any any questions:

Potential clearing member sends the required joining documents via e-mail for preliminary checking (optional)


Documents to be sent to KELER CCP Client Relations:

Completeness of documentation deficiencies

KELER CCP Client Relations and KELER Client Service

( check the sent documents

and inform the potential clearing member

whether the documents are ready for final sending 

or if any deficiencies occur that need to be completed.

Potential clearing member sends 

the utter joining documents to KELER CCP

The required documents of clearing membership 

should be sent via post and/or e-mail to KELER CCP.


The previously sent checklist contains 

the substansive and formal conditions 

and the required number of copies, please check it carefully!

Settlement bank sends the triparty cooperation 

agreement (signed by the potential clearing member and by the bank) to KELER CCP, 

and informs KELER CCP about 

the opening of the settlement account 

After the potential clearing member selected 

the settlement bank and started the account 

opening process, the bank and KELER CCP directly contact each other, 

regarding this the potential clearing member

does not have any further tasks.

FGSZ Zrt. verifies the gas network system user agreement 

signed by the potential clearing member to KELER CCP 

After the potential clearing member initiated the signing of the gas network system user agreement with FGSZ, 

FGSZ and KELER CCP directly contact each other, 

regarding  this the potential clearing member

do not have any further tasks.


KELER CCP  verifies the completeness 

of the documents to the potential 

clearing member via e-mail

In case all the documents required for starting the customer due diligence process arrived

and fit all substansive and formal conditions, 

KELER CCP verifies the completeness of the 

documents to the potential clearing member via email.  

KELER CCP customer due diligence process

Supplemental phase of KELER CCP customer 

due diligence process

In case the Compliance and/or the Risk Management order the provision of additional data, the Client Relations informs the potential clearing member accourdingly.

Decision on access request

In line with the results of the 

customer due diligence processs a proposal is prepared, based on which the 

CEO of KELER CCP decides on the approval or the rejection of the access request.


The customer due diligence process and the 

decision-making phase will be closed in 30 days after the date of

the completeness certificate, if no supplementation data are required.

In case of approval, 

the clearing membership agreement to be signed

By signing the clearing membership agreement on the part of KELER CCP, the clearing membership legal relationship is established. 

KELER CCP informs the clearing member

about the decision and the terms of cooperation (e.g. collaterals)

The required conditions shall be fulfilled within 30 calendar days from the 

effective date of the clearing membership agreement.

Clearing member complies the 

terms of clearing rights

In case the clearing member complies

the conditions required  to gain the clearing right,

the clearing right opens and

KELER CCP informs its partners accordingly.

KELER CCP informs FGSZ and the settlement bank (trading platforms / exchanges)