Market Access

SETTLEMENT OF PAYMENTS

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 MTEE Technical Rules n. 04;
2. that the invoice of GME is received by the Market Participant within the time limit set by the MTEE 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 in the MTEE 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 third-to-the-last working day of the month in which GME has sent the related invoice and with value date on the same day, to the following bank account held by GME:
BPER Banca S.p.A.
IBAN IT55 M053 8703 2310 0004 9347 903
SWIFT CODE BPMOIT22XXX