Dear partners,

In connection with the upcoming launch of clearing services on the market of Balkan Gas Hub EAD (BGH) in cooperation with KELER CCP Ltd. (KELER CCP), we inform you that the onboarding process for a large part of our members has been successfully completed or is in its final phase.

Based on the feedback from our members and acknowledging that the process of opening accounts with settlement banks is time-consuming, we provide an additional short period for those members who have not yet completed their onboarding.

As of 9:00 AM (Sofia time) on 15 July 2025, clearing services will be launched on the Balkan Gas Hub EAD market.

Together with the central counterparty KELER CCP, we are inaugurating the first cleared gas market in the region, served by a clearing house licensed by the European Securities and Markets Authority (ESMA) in accordance with the EMIR Regulation. The central counterparty (CCP) services reduce credit and market risks while enhancing the efficiency of short-term and forward transactions on the BGH market. As a central counterparty, KELER CCP provides security and stability for market participants by standing between the buyer and seller of gas, assuming the risk and responsibility for the settlement of transactions.

Important details:

• Access to cleared products tradable on-screen via Trayport Joule (VTP Bulgaria Cleared and VTP ICGB Cleared) will be available to all BGH members who have completed the onboarding procedure with the central counterparty KELER CCP and have provided the required collateral based on which KELER CCP opens the clearing right of the BGH member and reports it to BGH;
• All products will be traded in EUR;
• Specifications for short-term and forward cleared products, Trading calendars, General clearing rules, and the Settlement Price Determination Methodology for the BGH forward market are available on our website:

https://www.balkangashub.bg/en/clearing-documents

More information on clearing procedures (including guidance on reports with report templates etc.) is published on the microsite of KELER CCP:

bgh.kelerkszf.hu

Balkan Gas Hub EAD and KELER CCP Ltd. Teams