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Clearing Members

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The clearing of Transactions on Day Ahead and Intraday Markets and the clearing of Positions on the Balancing Market, is carried out between EnExClear and its Clearing Members.

There are two types of Clearing Members

Direct Clearing Members, are Market Participants who may clear only their own transactions and positions.

General Clearing Members, are Financial Institutions who undertake the clearing of transactions and positions of other participants.

Have a look the list of EnExClear Clearing Members.


Requirements

 

EnExClear sets specific financial, organizational, operational and technical requirements for Direct and General Clearing Members .

Details on the above requirements can be found at EnExClear Rulebooks and Decisions.


  

Process for acquiring the capacity of Clearing Member

 

To acquire the capacity of Direct Clearing Member or General Clearing Member for each Market (DAM-IDM / Balancing), the candidates follow a three-stage procedure:

  • 1st Stage: Submission & approval of the "Application for Acquiring the Capacity of Clearing Member".

  • 2nd Stage: Preparation for activation of the Clearing Member.

  • 3rd Stage: Activation of the Clearing Member.

Details about the admission process are presented in Decision 1 of EnExClear.

 

1st Stage

Fill-in the Candidate Membership and KYC forms and submit your application to the Members' Support Department.

form title mandatory file

F1-1

Application Form

Yes

F1-2

KYC Form

Yes

Clearing Members applicable fees can be found here.

 

2nd Stage

Become a Certified User.

For the purpose of certification of the professional competence of employees and officers, EnExClear issues the Energy Clearer Certificate "ECC".

The ECC relates to the performance of duties of a Certified Energy Clearer at a Clearing Member of EnExClear both for the Clearing of Transactions on the Day Ahead and Intraday Markets of HEnEx and the Clearing of Positions on the Balancing Market of the HETS Operator.

Each Clearing Member must have appointed at least one (1) Certified Clearer for the Clearing of Transactions / Positions it undertakes. In every case, the Clearing Member must have an adequate number of Certified Clearers, depending on its activity.

Apply for the Energy Clearer Certificate "ECC".

form title mandatory file

CL2-1

Application for the Energy Clearer Certificate

Yes

Detailed information the Professional competence of Clearing Members, can be found here

 

3rd Stage

Connection to the EnExClear Clearing System. To be activated, as a Clearing Member you must first deposit the initial contribution to the Default Fund, corresponding to the requested capacity, as well as any kind of registration fees, annual subscription fees, charges for connecting to the systems of EnExClear.

  • Activate the Clearing Account.

  • Submit all relevant information to activate Users in the Clearing System.

form title mandatory file

F1-3

Membership Activation  Form

Yes

F1-4

Participant's Members Profile Form Yes

CL1-1

EMCS Users Form Yes

CL1-2

Application for Clearing Account

Yes

CL1-3

Right of Use (DAM-IDM)

Yes

CL1-4

Right of Use (Balancing)

Yes

  • Submit the Cash Settlement Accounts at the Cash Settlement Agents.

form title mandatory file

CL5_2

Joint Declaration of Settlement Bank & CM (DAM-IDM)

Yes

CL10_2

Joint Declaration of Settlement Bank & CM (Balancing)

Yes
TARGET2 -1014 (DAM/IDM) Yes
TARGET2 -1014 (Balancing) Yes

Follow the on-boarding process and contact the Member Support Department for any questions.

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EnEx Member Support Dpt.

E-mail : EnEx-Member-Support@enexgroup.gr
Tel : (+30) 210 33 66 845,  (+30) 210 33 66 952
Fax : (+30) 210 33 66 951