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Customer Service
(Monday - Friday
from 08.00 A.M. till 06.00 P.M.)

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Hotline:
0 801 500 207
(+48) 22 545 55 55

If you have any further questions regarding the product, please contact us. We will make every effort to respond to your questions as soon as possible.

TARGET2

The Euro Elixir system settlement, initially conducted under the SORBNET-Euro system, has been performed since June 2009 on the SSP TARGET2 platform, under the Polish component, TARGET2-NBP, as the so-called ancillary system. This means transactions cleared by Euro Elixir are settled with special mechanisms and procedures and appropriate interface for communication with the SSP platform.

The settlement is performed on a daily basis, according to the specificity of a dedicated procedure [link], which assumes the execution of settlement of transactions in Euro based on liquidity isolated on the sub-accounts and technical account of the Clearing House on the SSP platform. For settlement purposes, each direct participant in the Euro Elixir system must have a sub-account open (additional account in payment module on the SSP TARGET2 platform, linked to RTGS account), which is made available to the Clearing House.

Euro Elixir enables two methods of settlement under TARGET2:

  • direct participation in the TARGET2 system – involves the opening of a sub-account in the TARGET2 system for the purposes of settlement of own clearings and providing the Clearing House with own clearing balance for the settlement,
  • indirect participation in the TARGET2 system and opening of a sub-account by in intermediary bank (the so-called settlement bank, which is a direct participant in the TARGET2 system) for the purposes of settlement of the indirect participant's clearing balance.

What is important is that in order to participate in the Euro Elixir system it is not necessary to be a direct participant in the TARGET2 system or operate on the TARGET2 platform.