GME-Accesso ai Mercati

Market Access

Environment - Guarantees of Origin

SETTLEMENT OF PAYMENT

PAYMENT OF COMPLETED TRANSACTIONS

For the purposes of settlement of payments, GME shall determine, for each Market Participant, the net position (debtor or creditor) to GME, on the basis of the amounts, including VAT, where chargeable, related to the invoices issued and received by GME relatively the same billing period (single market session), provided that they meet the following requirements:

  1. that the invoice of the Market Participant is received by GME within the time limit set by the P-GO Technical Rules n. 04;
  2. that the invoice of GME is received by the Market Participant within the time limit set by the P-GO Technical Rules n. 04.


Otherwise, GME postpones the offsetting of the amounts, until the receipt of the invoices.
After the end of the market session and within the time limit set by the P-GO Technical Rules n. 04, GME shall:

  1. close the claims against the Market Participants, its debtors, using until then the deposit available and paid by them;
  2. reimburse the amounts paid as guarantees and exceeding with respect to purchases made in the session;
  3. settle the payables to the Selling Market Participants provided that the invoice has been received.


The payment to the PA Market Participant net creditor will be made within the business day following the determination of the net position.

The payments will be made by SEPA Credit Transfer with Priority or equivalent procedures.

PAYMENT OF FEES

The reference periods for invoicing variable fees are the January-March quarter, the April-June quarter, the July-September quarter and the October-December quarter.

The payment of the invoices issued by GME with reference to the aforementioned quarters must be made within the last working day of the month in which the invoice has been issued, to the following bank account held by GME:
Banca Popolare di Sondrio 
IBAN IT19 B056 9603 2110 0000 7200 X26 
SWIFT CODE POSOIT22 

Constant monitoring of the markets

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