Project Reference

Clearing System Design for UEEX

PONTON designes an energy market clearing service for Ukraine and the SEEGAS region

With our experience in settlement system development, PONTON was asked to give advice to the design of a regional clearing service for the Ukrainian Energy market and beyond. UEEX, as the most advanced and as the only approved market platform for trading of power and gas products, sought a solution similar to the previously developed SMSS system in order to operate as the regional CCP (central counterparty).

A clearing system as designed for UEEX includes the following CCP functions:

  • Onboarding and management of different kind of members (general clearing members, direct clearing members, non-clearing members),
  • Processing of  incoming trade data from the connected exchange and OTC platforms,
  • Netting of payments and deliveries across members,
  • Physical settlement by unilateral nomination towards the gas and power TSOs,
  • Risk management and margining services, and
  • Credit limit management in case of advanced risk exposures.
  • Give-up / take-up process for OTC clearing.