In the OTC_clearing
service which addresses the clearing obligation
under the European regulations, KDPW_CCP acting as a central counterparty (CCP) offers:
Clearing of OTC derivatives and repos through novation;
Novation means that KDPW_CCP assumes the rights and obligations arising from a trade accepted for clearing. Through this mechanism, KDPW_CCP becomes a counterparty directly legally responsible to participants who are clearing counterparties (the original trade expires). As a result, KDPW_CCP offers a superior level of trading security to participants, in line with international standards.
Acts as an intermediary in the settlement resulting from the clearing process;
Risk management according to the best market practice, including mainly full compliance with EMIR;
Reports cleared transactions to the trade repository KDPW_TR at no extra charge.