Financial Settlement

Following the close of the gas month, KELER CCP prepares the monthly clearing report to advise the clearing member on monthly financial result. The monthly purchase price invoice is issued based on the monthly clearing report. Monthly financial result is settled on the 5th day after the monthly clearing (if it is a non-business day, on the following first settlement day) following the gas day clearing.

The settlement positions for the purchase price amount adjusted with VAT corresponding to the VAT residence are formed in line with the transactions of the Clearing Member during the period, KELER CCP determines the purchase price of all transactions as a single net financial position. On the financial netting KELER CCP issues the so-called compensation minutes.

KELER is the place of financial settlement.

Until 13:00 on Settlement Day the Clearing Members are required to provide in the settlement accounts the financial positions formed, from these accounts KELER CCP will take the funds for the entire amount. (Partial settlement is not available.) Parallel with this KELER CCP credits the settlement accounts of the obligees.

In addition to the settlement of financial positions Clearing Members are required to comply with the daily margin and default fund contribution requirements.

The deadline to meet the margin requirement is 8:30, while the normal monthly default fund contribution is to be made until 8:30 on the second (2.) settlement day after the requirement is determined.