The transactions made on the energy markets resulting in physical delivery are subject to purchase price invoicing. ECC operates the invoicing process and ECC Luxembourg s.a.r.l. (the subsidiary of ECC) issues and sends the purchase price invoices directly to the trading counterparties; KELER CCP is not involved in the purchase price invoicing in any form. ECC Luxembourg s.a.r.l. performs central purchase price invoicing (“self invoicing”), thus issues the invoices for both (in ECC Luxembourg s.a.r.l. view) sellers and buyers, on behalf of the sellers. (As a result, energy market Non-clearing Members are not required to issue sales purchase invoices.)
In addition to the purchase price invoices, ECC issues and sends fee invoices directly to the trading counterparties on behalf of the cooperating trading venues and on its own behalf, the place of related financial settlement is directly the account of KELER CCP as paying agent of ECC. KELER CCP collects these paid fees from the traders.
Related to energy market clearing, KELER CCP issues fee invoices to the energy market Non-clearing Members. Payment is based on the invoice issued by the 5th (fifth) business day following the subject month, the invoiced amounts are collected by debiting the Non-clearing Member accounts kept with the chosen Settlement Bank or OTP banka Srbija.