SPOT NATURAL GAS MARKET

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Collateral

EXIST requires a collateral from Shippers against financial risks in relation to payments that may arise due to market transactions and imbalances. These securities are ;

Daily Transaction Collateral (GİT)

Collateral required for the Participant to be able to give a bid order.

Invoice Transaction Collateral (FİT)

Collateral against the VAT and PİU debt of the Participant, arising from the matches made in STP.

Imbalance Collateral (DT)

Collateral against the imbalance that may be created by the Shipper in the transmission system for the next day, and the imbalance created in one settlement period.

Market Participants are obligated to deposit all of the Daily, Invoice, Imbalance collateral ; whereas System Users are only obligated to deposit the Imbalance collateral. At the end of a trading window, the collaterals of a shipper are changed due to its activities within that window. If the Shipper fails to ensure the necessary monitoring and fulfill its collateral obligations, the market transactions are suspended.

Important transaction times for the collateral process are as follows, where Daily Transaction Collateral notice is made on every hour between 08:00 / 17:00 during full business days.

 

Date                                                                           Application

G+1 day / 11:00 – 15:00                                         Transmitting the First Allocationata for the G Gas  Day to EXIST(BOTAŞ) 

G+1 day / 15:45                                                        FİT and DT notice (EXIST) / Margin call (Takasbank)

G+2 day / until 15:00 ( business day )                  FİT and DT completion payment ( Shippers )

G+2 day / 15:00 ( business day )                           FİT and DT control ( EXIST)

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