Settlement of an El-Certificate contract

Fee settlement

The clearing fee is calculated and settled T+1. The fee is included in the daily settlement transaction sent to the bank, and is shown on your Daily Summary Report and Tick-by-Tick report.

Delivery settlement

The delivery settlement for the forward and spot contract will consist of two parts. One part is the financial settlement of the profit or loss, and the other part is the net quantity El-certificates delivered to the FIFO calculated price.

Settlement will be done three days after last trading day of the contract (S+3). The settlement amount will include VAT if applicable. The cash is settled on the member’s Collateral and Settlement account, and El-certificates are delivered at the member’s Sub-Account in Cesar or NECS.