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Timetable of the clearing day

Clearing day timetable and scope of information provided to participants – organised trading

Transaction clearing day for the cash and the futures market (Day R)
No. Process Description
1.

Online monitoring of utilisation of a clearing member’s transaction limits, current initial margins, current marking to market and option premiums. Posting and releasing cash and non-cash assets as initial deposits and initial margins in PLN and EUR

on a clearing day:
  • posting cash in PLN (from 8:00 to 17:15), releasing (from 8:00 to 17:15),
  • posting cash in EUR (from 8:00 to 12:00), releasing (from 8:00 to 14:00),
  • posting and releasing securities (8.00-18.15*)
    *according to the Accounting day timetable of KDPW (Appendix 2 to the Detailed Rules of Operation of KDPW)

according to §§ 47-49 and § 51 of the Rules of Transaction Clearing (organised trading) and §§ 31-35, §§ 37-38 of the Detailed Rules of Transaction Clearing (organised trading)
2. Regular clearing session for KDPW_CCP guaranteed transactions start of processing (at 18.00)
according to Appendix 4 to the Detailed Rules of Transaction Clearing (organised trading)
3. Distributing post-clearing reports Clearing members receive messages which notify them of:
  • initial margin for cash and derivatives markets under the SPAN methodology,  
  • initial margin for the derivatives market under the MPKR (Portfolio Risk Calculation Model) methodology,
  • contributions to the clearing fund and the ATS guarantee funds,
  • additional margins,
  • current marking to market for futures and option premium,
  • projections of credits and debits balances at the transaction date on the cash market,
  • projections of securities flows at the transaction date on the cash market.
according to § 40 of the Detailed Rules of Transaction Clearing (organised trading)
Day after the transaction clearing date on the cash and derivatives market after Day R (Day R+1)
1. Payment of credits and debits in respect of initial margins for cash and derivatives transactions, daily marking to market, option premium, clearing fund, ATS guarantee funds and additional margins debit transfers 15 minutes before the session opens

according to § 47 of the Rules of Transaction Clearing (organised trading) and § 28 of the Detailed Rules of Transaction Clearing (organised trading)


credit transfers