Settlement and Collateral
Financial settlement
All transactions concluded on the market segments of the organized power exchange market for electricity automatically and in all cases give rise to financial liabilities for trading participants and are subject to financial settlement.
For Intraday and Day-ahead market segments IBEX EAD is a party to all transactions for purchase and sale of electricity, as a result of which the financial liabilities of trading participants include payment of the price of electricity under the transactions for purchase concluded as well as payment of the applicable prices in accordance with the Tariff. As for Bilateral contracts market segment, IBEX EAD is not a party to the transactions for purchase and sale of electricity and financial liabilities include payment of the applicable prices in accordance with the Tariff.
IBEX EAD pays the amounts payable to trading participants to the bank account provided in the application for registration and trading participants pay the amounts payable to IBEX EAD to the following bank account:
IBAN: BG78 UNCR 7000 1522 3562 42
BIC code: UNCR BGSF
BANK: Unicredit Bulbank AD
ACCOUNT HOLDER: IBEX EAD
Collateral
In order to guarantee compliance with its obligations, each trading participant has to maintain collateral which meets the requirements for its amount in accordance with the Power Exchange Operational Rules and Instruction №4 „Method for calculation of required collateral “.
Trading participants can use the collateral call calculation model developed in order to obtain initial information on the expected amount of the collateral required for specific results for purchase and/or sale on Intraday and Day-ahead market segments.
Collateral to the benefit of IBEX EAD can be provided in the form of a bank guarantee and/or cash deposit. Bank guarantees are provided in accordance with Instruction №3 „Provision of bank guarantee“. A cash deposit is provided to the following bank accounts:
For Intraday and Day-ahead market segments
IBAN: BG79 UNCR 7000 1522 4935 76
BIC code: UNCR BGSF
BANK: Unicredit Bulbank AD
ACCOUNT HOLDER: IBEX EAD
For Bilateral contracts market segment
IBAN: BG19 STSA 9300 1527 0529 97
BIC code: STSA BGSF
BANK: DSK Bank AD
ACCOUNT HOLDER: IBEX EAD
Trading participants can obtain information about the available collateral per market segments via the persons responsible for settlement and collateral to whom access has been granted to the respective electronic system for settlement and collateral, namely: CASS for Intraday and Day-ahead market segments and RMS for Bilateral contracts market segment. When the conditions for releasing the amount of available collateral are met, trading participants may dispose with the free amounts by sending Application for collateral release Intraday and Day ahead market segments and/or Application for collateral release Bilateral contracts market segment.
Collateral blocked under a transaction concluded on Bilateral contracts market segment shall be released upon meeting the requirements of the Power Exchange Operational Rules, including sending a confirmation on fulfilled obligations.
All transactions concluded on the market segments of the organized power exchange market for electricity automatically and in all cases give rise to financial liabilities for trading participants and are subject to financial settlement.
For Intraday and Day-ahead market segments IBEX EAD is a party to all transactions for purchase and sale of electricity, as a result of which the financial liabilities of trading participants include payment of the price of electricity under the transactions for purchase concluded as well as payment of the applicable prices in accordance with the Tariff. As for Bilateral contracts market segment, IBEX EAD is not a party to the transactions for purchase and sale of electricity and financial liabilities include payment of the applicable prices in accordance with the Tariff.
IBEX EAD pays the amounts payable to trading participants to the bank account provided in the application for registration and trading participants pay the amounts payable to IBEX EAD to the following bank account:
IBAN: BG78 UNCR 7000 1522 3562 42
BIC code: UNCR BGSF
BANK: Unicredit Bulbank AD
ACCOUNT HOLDER: IBEX EAD
Collateral
In order to guarantee compliance with its obligations, each trading participant has to maintain collateral which meets the requirements for its amount in accordance with the Power Exchange Operational Rules and Instruction №4 „Method for calculation of required collateral “.
Trading participants can use the collateral call calculation model developed in order to obtain initial information on the expected amount of the collateral required for specific results for purchase and/or sale on Intraday and Day-ahead market segments.
Collateral to the benefit of IBEX EAD can be provided in the form of a bank guarantee and/or cash deposit. Bank guarantees are provided in accordance with Instruction №3 „Provision of bank guarantee“. A cash deposit is provided to the following bank accounts:
For Intraday and Day-ahead market segments
IBAN: BG79 UNCR 7000 1522 4935 76
BIC code: UNCR BGSF
BANK: Unicredit Bulbank AD
ACCOUNT HOLDER: IBEX EAD
For Bilateral contracts market segment
IBAN: BG19 STSA 9300 1527 0529 97
BIC code: STSA BGSF
BANK: DSK Bank AD
ACCOUNT HOLDER: IBEX EAD
Trading participants can obtain information about the available collateral per market segments via the persons responsible for settlement and collateral to whom access has been granted to the respective electronic system for settlement and collateral, namely: CASS for Intraday and Day-ahead market segments and RMS for Bilateral contracts market segment. When the conditions for releasing the amount of available collateral are met, trading participants may dispose with the free amounts by sending Application for collateral release Intraday and Day ahead market segments and/or Application for collateral release Bilateral contracts market segment.
Collateral blocked under a transaction concluded on Bilateral contracts market segment shall be released upon meeting the requirements of the Power Exchange Operational Rules, including sending a confirmation on fulfilled obligations.
