Financial Settlement

Related to energy market clearing financial position and margin settlement takes place daily.

Daily financial settlement is based on a single netted financial position. KELER CCP nets the financial positions of the energy market Non-clearing Member spot market transactions, derivative variation margin and physical delivery transactions arising from futures transactions.

The place of settlement on the cash side is the own Euro account of the client with KELER.

Until 10:00 on Settlement Day the energy market Non-clearing Members are required to provide the financial positions formed in their settlement accounts, KELER CCP will take the funds from these accounts for the entire quantity. (Partial settlement is not available.) Parallel with this KELER CCP credits the settlement accounts of the obligees.

Related to settlements, in addition to the settlement of financial positions, Clearing Members are required to meet the daily margin requirement.

The margin requirement is to be met until 10:00.