Renewable Energy Guarantees of Origin (REO-G) Market Clearing and Settlement
In accordance with the Article 77 of the Capital Market Law numbered 6362 published in the Official Gazette dated 30.12.2012 and numbered 28513, General Regulation on the Establishment and Working Principles of Central Clearing Institutions published in the Official Gazette dated 30.05.2013 and numbered 28662 Takasbank has been authorized as the central settlement bank to be used by the Market Operator and market participants for the purpose of operating the collateral mechanism in the Renewable Energy Guarantees of Origin (REO-G) Market and ensuring payments are executed on a timely and accurate manner, and maintaining continuous cash flow in the market.
Cash Cearing and Settlement Services;
- Market participants effect debt payment transactions arising from market activities by connecting to the Takasbank system.
- Market receivables are automatically forwarded to the intermediary bank accounts which participants have notified about to Takasbank.
- Participants can instantly query debt/credit information arising from market activities, default reports, assignment and collateral information on the Takasbank system.
Collateral Management Services;
- Deposit/withdrawal of collateral are effected via Takasbank screens,
- Margin call to the participants,
- Valuation of collaterals and their notification to EXIST,
- Interest accrual for the cash collaterals.