Dear Sirs,
With reference to the information transferred in the letters dated on the days of 18.05.2010 and 25.05.2010 we inform thereby that the POLPX Management Board has taken decision about taking over of clearing of the transactions entered into on th POLPX by the Warsaw Commodity Clearing House (“IRGIT”), starting from the day of June the 7th 2010. We feel certain that execution of the clearings by the IRGIT will improve effectiveness of use of collateral margins with simultaneous reduction of the collaterals costs.
All transactions, which are entered into from the day of June the 7th 2010, will be cleared and invoiced by the IRGIT. The Member of POLPX have been informed about the details concerning the clearings, and particularly dates of invoicing and time limits for financial flow, in our letter dated on the day of May the 25th 2010. Starting from the day of handing over of the clearings the POLPX issues invoices only for the transaction fee.
