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07.11.2019
Testing of the key aspects of the default procedures

​On 9-10 December 2019 we will conduct, with the involvement of market participants, testing of the key aspects of the default procedures relating to obligations arising from transactions accepted for clearing in the clearing system for transactions concluded in organised trading and in the OTC clearing system (non-organised trading).


06.11.2019
Business continuity tests with the participation of market participants

​On 23 November 2019 KDPW_CCP S.A. in partnership with KDPW S.A., the Warsaw Stock Exchange, and BondSpot S.A. are planning to run the annual business continuity tests with the participation of market participants. Similar to previous years, the tests will be run in the production environment of KDPW_CCP systems and will include testing KDPW_CCP member's connections with these systems hosted in the KDPW_CCP back-up site.


17.10.2019
18 November 2019 – extension of the range of IRS and FRA transactions cleared by the KDPW_CCP

KDPW_CCP is extending the range of OTC interest rate derivatives accepted for clearing.


27.09.2019
Fees - promotional programmes extended until 29 February 2020

​On 23 September 2019 the Supervisory Board of KDPW_CCP S.A. adopted Resolutions extending until 29 February 2020 the promotional programmes which reduce clearing fees as follows:


27.09.2019
50% fee reduction – registration of transactions or position transfers in futures on sectoral indices

​In connection with Resolution No. 57/404/19 of the KDPW_CCP Supervisory Board dated 23 September 2019 from 1 October 2019 to 29 February 2020, the fees for the registration of transactions or position transfers in futures on sectoral indices are reduce by half.


19.09.2019
PFSA Determines KDPW_CCP’s Application for Extension of Authorisation with New Instruments Is Complete

The Polish Financial Supervision Authority (PFSA) has determined that the application of the clearing house KDPW_CCP for the extension of its authorisation to include a new class of instruments under EMIR* is complete. KDPW_CCP is planning to clear and settle transactions at auctions on an auction platform offering emission allowances EUA/EUAA for sale on the primary market.

 

17.09.2019
Amendments of the KDPW_CCP regulations

​On 1 October 2019 the amendments to the following rules will enter into force:

  • Rules of Transaction Clearing (organised trading),
  • Rules of Transactions Clearing (non-organised trading),
  • Rules of the Clearing Guarantee Fund,,
  • Rules of the WSE BondSpot ATS Guarantee Fund.

04.09.2019
1 October 2019 – implementation of the new functions in the KDPW_CCP production system

​On 1 October 2019, the new functions concerning modifications of the terms of participation and calculation of contributions to the clearing fund/guarantee funds in organised and non-organised trading will be implemented in the KDPW_CCP production system.

As a result of the implemented modifications, the existing messages: colr.sgf.001.02 – clearing fund or guarantee funds update message and colr.sgf.002.02 - OTC guarantee fund update message will be replaced by their subsequent versions, respectively: colr.sgf.001.03 - clearing fund or guarantee funds update message and colr.sgf.002.03 - OTC guarantee fund update message.


14.08.2019
Readiness of testing environments: new functionality in TSTB

​We encourage all our participants to participate actively in the testing exercise that will help deploy new tools and services offered by KDPW_CCP and learn more about the extended characteristics of OTC transactions.


03.07.2019
Insurance against Financial Consequences of Operational Risk

Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) has renewed an insurance contract with Colonnade Insurance S.A. with a sum insured of PLN 100 million. The contract valid until 30 June 2020 insures KDPW S.A. and KDPW_CCP S.A. against operational risk of the activity of both companies.


31.05.2019
KDPW and KDPW_CCP are Partners of the European Financial Congress

​The European Financial Congress organised by the Gdańsk Institute of Market Economics (IBnGR) – Gdańsk Academy of Banking takes place in Sopot on 3-5 June 2019.


31.05.2019
KDPW and KDPW_CCP are Partners of WallStreet 23 organised by the Individual Investors Association

The 23rd edition of WallStreet, the most prominent meeting of individual investors and capital market players, organised by the Individual Investors Association, takes place in Karpacz on 31 May – 2 June 2019.


31.05.2019
KDPW Group at IDX London


The KDPW Group and the Warsaw Stock Exchange participate in the International Derivatives Expo (IDX) taking place in London on 3-5 June 2019.


05.04.2019
E-invoices – amendment of the contents of the declaration

​KDPW_CCP has amended the contents of the declaration of acceptance of electronic invoices by accommodating comments raised by participants, in particular by deleting the provisions of items 6 and 7.


08.03.2019
Changes on the Management Board of KDPW_CCP S.A.

The Supervisory Board of KDPW_CCP S.A. appointed Maciej Trybuchowski the Company’s CEO and President, and Dr Piotr Jaworski its Management Board Member on 6 March 2019.


01.03.2019
Harmonisation with the modifications to the tick size

​In connection with the effective date of modifications to the tick size of shares, ETFs, single-stock futures and currency futures confirmed by the Warsaw Stock Exchange (GPW) as 4 March 2019, please be advised that the KDPW Group systems will be harmonised with the modifications at the effective date.


22.02.2019
Extension of the promotional programmes reducing fees until 31 August 2019
On 31 January 2019 the Supervisory Board of KDPW_CCP S.A. adopted Resolutions extending until 31 August 2019 the promotional programmes which reduce clearing fees as follows:

05.11.2018
Operating activity of KDPW and KDPW_CCP on 12 November 2018

In connection with the plans to establish a bank holiday on 12 November 2018 pursuant to the Act of 24 October 2018 establishing the National Day on the Centenary of Regaining Independence by the Republic of Poland, and in view of Resolution No. 1104/2018 of the Warsaw Stock Exchange Management Board dated 31 October 2018 cancelling the exchange trading session and trading in the alternative trading system on 12 November 2018, please find details of the planned activity of the KDPW S.A. Group (CCP/ZW/753/2018).


19.10.2018
Mandatory testing of the key aspects of the default procedures


On 22-23 November 2018 we will conduct, with the involvement of market participants, testing of the key aspects of the default procedures relating to obligations arising from transactions accepted for clearing in the clearing system for transactions concluded in organised trading and in the OTC clearing system (non-organised trading).


05.10.2018
New XML messages are available in the test environment

​In connection with the start of the publication of prices of shares, single-stock futures and currency futures with the precision of four decimal points by the Warsaw Stock Exchange (GPW) as of 2 January 2019, the new XML messages are available in the KDPW_CCP test environment.


26.09.2018
Poland Is Upgraded to Developed Markets in the FTSE Russell Classification

​The Polish capital market was upgraded to Developed Markets in the FTSE Russell classification on 24 September 2018. The key drivers of the upgrade included the quality of infrastructure in the area of services offered by the KDPW Group.


12.09.2018
Business continuity tests with the participation of market participants

​On 13 October 2018 KDPW_CCP S.A. in partnership with KDPW S.A., the Warsaw Stock Exchange, and BondSpot S.A. are planning to run business continuity tests with the participation of market participants.


04.09.2018
LEIs Now Available Also from a Bank

A partnership between KDPW and PKO Bank Polski sets a new standard in the issuance and maintenance of LEI codes. The LEI is a unique global identifier of legal entities operating on financial markets. Legal entities are required to obtain and use LEIs under European legislation including EMIR, REMIT, MiFID II / MiFIR, CSDR and SFTR. The LEI standard has been introduced to improve the transparency and safety of financial markets.


14.08.2018
Modifications to post-settlement messages

In connection with the start of the publication of prices of shares, single-stock futures and currency futures with the precision of four decimal points by the Warsaw Stock Exchange as of 2 January 2019, please be advised that alignments will be implemented in the clearing system operated by KDPW_CCP. Certain XML messages generated by KDPW_CCP will be modified (change of the message name and content). In particular, modifications will be made to message fields reporting the settlement price and the settlement amount of futures and the price of transactions in securities, and also the value of collateral posted with KDPW_CCP.


02.08.2018
Polish Financial Supervision Authority Authorises KDPW as ARM

On 31 July 2018, the Polish Financial Supervision Authority (KNF) authorised Krajowy Depozyt Papierów Wartościowych (KDPW, The Central Securities Depository of Poland) to provide transaction reporting services as an Approved Reporting Mechanism (ARM). As an ARM, KDPW is authorised to provide transaction reporting services in the European Union.


06.07.2018
Insurance against Financial Consequences of Operational Risk

Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) has signed an insurance contract with Colonnade Insurance S.A. with a sum insured of PLN 100 million. The contract valid until 30 June 2019 insures KDPW S.A. and KDPW_CCP S.A. against operational risk of the activity of both companies.


13.06.2018
KDPW Reduces LEI Issuance and Renewal Fees

The fees for the issuance and renewal of LEIs in KDPW will be reduced by 20 percent on average as of 1 July 2018. KDPW is the only Polish institution authorised to issue LEIs in the Global LEI System. The issuance of LEIs is a part of the integrated portfolio of KDPW Group services which support the operation and development of the Polish financial market.


11.06.2018
KDPW Group at International Derivatives Expo in London

The KDPW Group and the Warsaw Stock Exchange are taking part in the International Derivatives Expo (IDX) held in London on 4 – 6 June 2018. KDPW and KDPW_CCP are introducing international participants to services dedicated to the derivatives market.


19.03.2018
Launch of the EUR OTC trade clearing service
KDPW_CCP starts clearing of EUR OTC trade as of 3 April 2018. Consequently, the amendments of the Detailed Rules of the OTC Clearing System applicable to EUR OTC trade enter into force on 3 April 2018, including provisions governing trades denominated and cleared in EUR concerning the application of the EURIBOR and EONIA rates, as well as provisions governing the calculation of margins and valuation of such trades under
Resolution No. 21/16 of the KDPW_CCP S.A. Management Board of 17 August 2016 and Resolution No. 10/18 of the KDPW_CCP S.A. Management Board of 19 March 2018.
KDPW_CCP’s new service offers the clearing of EUR OTC trade in interest rate derivatives whose underlying is EURIBOR or EONIA.
Pursuant to a decision of the KDPW_CCP S.A. Supervisory Board (Resolution No. 6/308/18), KDPW_CCP charges no fees for the clearing of such trade until 30 June 2018. 

07.02.2018
Amendments of the Rules of Transaction Clearing (organised trading) and the Rules of Transaction Clearing (non-organised trading)

​On 21 February 2018 the amendments of the Rules of Transactions Clearing (organised trading) under Resolution No. 48/289/17 of the KDPW_CCP S.A. Supervisory Board dated 23 October 2017 and amendments of the Rules of Transactions Clearing (non-organised trading) under Resolution No. 49/290/17 of the KDPW_CCP S.A. Supervisory Board dated 23 October 2017 enter into force.


28.11.2017
Amendments of the Detailed Rules of the OTC Clearing System
On 2 December 2017, the amendments of the Detailed Rules of the OTC Clearing System take effect under Resolution no. 54/17 of KDPW_CCP S.A. Management Board dated 20 November 2017.

09.11.2017
Mandatory testing of the key aspects of the default procedures

20.09.2017
Business continuity tests with the participation of market participants

On 14 October 2017 KDPW_CCP S.A. in partnership with KDPW S.A., the Warsaw Stock Exchange, and BondSpot S.A. are planning to run business continuity tests with the participation of market participants.


18.09.2017
Amendments of the Rules of Transactions Clearing (organised trading) and the Detailed Rules of Transaction Clearing (organised trading)
The following amendments enter into force on 30 September 2017:
  1. to the Rules of Transactions Clearing (organised trading) - following the decision of the Polish Financial Supervision Authority (KNF) of 30 June 2017 approving the amendments adopted under Resolution No. 34/233/16 of the KDPW_CCP S.A. Supervisory Board on 13 December 2016,
  2. to the Detailed Rules of Transaction Clearing (organised trading) - under Resolution No. 28/17 of the KDPW_CCP S.A. Management Board dated 15 September 2017 and Resolution No. 29/17 of the KDPW_CCP S.A. Management Board dated 15 September 2017.

18.09.2017
Modifications to the RMA service
KDPW_CCP S.A. announces modifications to the RMA (Risk Management Access) service provided in partnership with the Warsaw Stock Exchange. The modifications open the RMA service to clearing members under the Rules of Transaction Clearing (organised trading). Consequently, the service has been added to the standard offer of KDPW_CCP S.A. and it is governed only by the Rules of Transaction Clearing (organised trading) and the Detailed Rules of Transaction Clearing (organised trading). The promotional period, when the RMA service was offered free of charge under an agreement between KDPW_CCP S.A. and the Warsaw Stock Exchange, has ended.

28.08.2017
Amendments of the Detailed Rules of the OTC Clearing System
On 11 September 2017, the amendments of the Detailed Rules of the OTC Clearing System take effect under Resolution No. 23/17 of KDPW_CCP S.A. dated 28 August 2017 in connection with the suspension of FRA, IRS and OIS fixings by ACI Polska and the change of the WIBID/WIBOR fixing organiser. For the duration of the unavailability of the fixings, the reference rates of OTC derivatives used in clearing are determined by KDPW_CCP on the basis of available contributor quotes.

11.07.2017
Temporary waiver of fees (organised trading)
The KDPW_CCP S.A. Supervisory Board has decided to waive the fees for registration of transactions in short-term, mid-term and long-term Treasury bonds futures contracts and in WIBOR reference rates futures contracts and for transferring positions in such contracts. The waiver of the fees applies from 1 July 2017 to 31 December 2017.

11.07.2017
Temporary reduction of fees applicable to transactions under the HVF programme
KDPW_CCP has reduced, for a determined period of time from 1 July 2017 to 30 June 2018, the fees applicable to transactions under the High Volume Funds programme introduced by the Warsaw Stock Exchange. In order to use the reduction of the fees, clearing members are required to fulfil the conditions laid down in Resolution of the KDPW_CCP Supervisory Board, including delivery of a declaration to KDPW_CCP.

06.07.2017
Amendments to the Rules of Transaction Clearing (non-organised trading) and the Detailed Rules of the OTC Clearing System
The amendments to the Rules of Transaction Clearing (non-organised trading) under Resolution No. 35/234/16 of the KDPW_CCP S.A. Supervisory Board dated 13 December 2016, amended by Resolution No. 10/251/17 of the KDPW_CCP S.A. Supervisory Board dated 25 April 2017, and amendments to the Detailed Rules of the OTC Clearing System under Resolution No. 18/17 of the KDPW_CCP S.A. Management Board dated 6 July 2017 enter into force on 20 July 2017.

06.07.2017
Amendments to the Rules of Transaction Clearing (organised trading) and the Rules of Transaction Clearing (non-organised trading)
The amendments of the Rules of Transactions Clearing (organised trading) under Resolution No. 8/249/17 of the KDPW_CCP S.A. Supervisory Board dated 25 April 2017 and amendments of the Rules of Transactions Clearing (non-organised trading) under Resolution No. 9/250/17 link KDPW_CCP S.A. Supervisory Board dated 25 April 2017 entered into force on 1 August 2017.

27.06.2017
Change of taxes on certain services of KDPW_CCP as of 1 July 2017
In connection with the entry into force as of 1 July 2017 of an amendment to the Value Added Tax Act of 11 March 2004 pursuant to the Act of 1 December 2016 amending the Value Added Tax Act and certain other Acts (Journal of Laws 2016, item 2024), certain fees charged by KDPW_CCP under the Table of Fees attached to the Rules of Transaction Clearing (Organised Trading) and the Table of Fees attached to the Rules of Transaction Clearing (Non-organised Trading) will change.

23.06.2017
Amendments of the guarantee system as of 3 July 2017
As of 3 July 2017 shares of companies participating in the WIG20 index will no longer be accepted as margins until further notice.

04.05.2017
Extension of the waiver of fees for late provision of financial information to KDPW_CCP

10.04.2017
KDPW_CCP S.A. starts clearing EUR-denominated transactions in securities
As of 24 April 2017 KDPW_CCP will start to clear EUR-denominated transactions in securities within the meaning of Annex I Section C (1) of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, concluded on the regulated markets and in the alternative trading systems organised by the Warsaw Stock Exchange (GPW S.A.) and BondSpot S.A., respectively. KDPW_CCP S.A. will start to clear such transactions under agreements concluded with the foregoing entities, unless the Polish Financial Supervision Authority raises an objection to the change of the entity responsible for the clearing of such transactions from Krajowy Depozyt Papierów Wartościowych S.A. to KDPW_CCP S.A.

08.03.2017
KDPW Group publishes ISO15022 and ISO20022 message documentation on the MyStandards platform operated by SWIFT
The KDPW Group has published the documentation of messages ISO15022 and ISO20022 used in communications with counterparties in the following areas:
- Corporate Actions (ISO20022),
- Settlement and Reconciliation (ISO15022),
- Clearing (ISO20022),
on the MyStandards platform as of March 2017.

03.02.2017
Clearing OTC Instruments in KDPW_CCP – an interesting offer for banks with exposures to PLN derivatives
The obligation to clear selected classes of OTC (over-the-counter) PLN interest rate derivatives in CCPs takes effect on 9 February 2017. The obligation derives from EU regulations. Banks obliged to clear such transactions in CCPs may use KDPW_CCP’s OTC_clearing service.

16.01.2017
Temporary waiver of fees (organised trading)
The KDPW_CCP S.A. Supervisory Board has decided to waive the fees for registration of transactions in short-term, mid-term and long-term Treasury bonds futures contracts and in WIBOR reference rates futures contracts and for transferring positions in such contracts. The waiver of the fees applies from 1 January 2017 to 30 June 2017.

16.01.2017
Temporary reduction of the fee (non-organised trading)
KDPW_CCP has reduced, for a determined period of time from 1 January 2017 to 31 December 2017, the fee for the management and administration of assets deposited as contributions to the OTC guarantee fund and assets posted as deposits or margins.

03.01.2017
Temporary reduction of fees applicable to transactions under the HVF programme

KDPW_CCP has reduced, for a determined period of time from 1 January 2017 to 30 June 2017, the fees applicable to transactions under the High Volume Funds programme introduced by the Warsaw Stock Exchange. In order to use the reduction of the fees, clearing members are required to fulfil the conditions laid down in Resolution of the KDPW_CCP Supervisory Board, including delivery of a declaration to KDPW_CCP.


29.12.2016
Amendment of appendices to the Detailed Rules of the OTC Clearing System
The amendments of the Detailed Rules of the OTC Clearing System under Resolution No. 77/16 of the KDPW_CCP S.A. Management Board dated 27 December 2016 enter into force on 10 January 2017.

16.12.2016
Extension of the temporary waiver of fees for late provision of financial information by clearing members to KDPW_CCP
The KDPW_CCP S.A. Supervisory Board has decided to continue the temporary waiver of the fees for late provision of financial information by a participant holding the status of clearing member to KDPW_CCP. The waiver of the fees applies from
1 September 2016 to 30 April 2017.

06.12.2016
Amendments of the Rules of Transaction Clearing (organised trading) and Detailed Rules of Transaction Clearing (organised trading)
20 December 2016 is the effective date of amendments of the Rules of Transactions Clearing (organised trading) under Resolution No 3/175/15 of the Supervisory Board of KDPW_CCP S.A. dated 27 March 2015 (as amended) and the Detailed Rules of Transaction Clearing (organised trading) under Resolution No. 73/16 of the KDPW_CCP S.A. Management Board dated 6 December 2016.

08.11.2016
Mandatory testing of the key aspects of the default procedures

02.11.2016
Extension of the temporary reduction of fees applicable to transactions under the HVP programme and waiver of fees for late provision of financial information by a participant holding the status of clearing member to KDPW_CCP

03.10.2016
Business continuity tests with the participation of market participants
On 15 October 2016 KDPW_CCP S.A. in partnership with KDPW S.A., the Warsaw Stock Exchange, and BondSpot S.A. are planning to run the annual business continuity tests with the participation of market participants. The test will check the contingency solutions and procedures applicable in the event of a crisis where the capital market infrastructure institutions need to relocate their operation to the back-up sites. The periodic testing is required under the law and the generally accepted standards.

22.08.2016
Extension of Authorisation of the Clearing House KDPW_CCP
The Polish Financial Supervision Authority (KNF) has extended the authorisation of the clearing house KDPW_CCP to cover new classes of instruments and categories of acceptable collateral as of 9 August 2016. KNF’s decision allows KDPW_CCP to offer new services: the clearing of EUR-denominated instruments in organised trading (exchange market and ATS) and in OTC trade (interbank market), as well as the clearing of PLN-denominated OTC debt instruments. The extended authorisation of the clearing house allows it to accept collateral in EUR, including both cash and bonds.

18.08.2016
Amendments of the Rules of Transaction Clearing (organised trading) and Detailed Rules of Transaction Clearing (organised trading)
1 September 2016 is the effective date of amendments of the Rules of Transactions Clearing (organised trading) under Resolution No 35/158/14 of the Supervisory Board of KDPW_CCP S.A. dated 5 November 2014 (as amended) and the Detailed Rules of Transaction Clearing (organised trading) under Resolution No. 20/16 of the KDPW_CCP S.A. Management Board dated 17 August 2016.

18.08.2016
Amendments of the Rules of Transaction Clearing (non-organised trading) and Detailed Rules of the OTC Clearing System
1 September 2016 is the effective date of amendments of the Rules of Transaction Clearing (non-organised trading) under Resolution No 36/159/14 of the Supervisory Board of KDPW_CCP S.A. dated 5 November 2014 (as amended) and Detailed Rules of the OTC Clearing System under Resolution No 21/16 of the KDPW_CCP S.A. Management Board dated 17 August 2016.

18.08.2016
Amendments of the Rules of the Clearing Guarantee Fund
1 September 2016 is the effective date of amendments of the Rules of the Clearing Guarantee Fund under Resolution No 37/160/14 of the Supervisory Board of KDPW_CCP S.A. dated 5 November 2014 (as amended).

18.08.2016
Amendments of the Rules of the WSE BondSpot ATS guarantee fund
Amendments of the Rules of the WSE BondSpot ATS guarantee fund enter into force on 1 September 2016 following the amendment of the Rules of Transaction Clearing (organised trading) adopted in Resolution No. 35/158/14 of the Supervisory Board of KDPW_CCP S.A. dated 5 November 2014 (as amended) a and the amendment of the Detailed Rules of Transaction Clearing (organised trading) under Resolution No 20/16 the of the KDPW_CCP S.A. Management Board dated 17 August 2016.

08.07.2016
Insurance against Financial Consequences of Operational Risk
The Central Securities Depository of Poland (KDPW) has extended an insurance contract with AIG Europe Limited with a sum insured of PLN 100 million. The contract valid until 30 June 2017 insures KDPW S.A. and KDPW_CCP S.A. against operational risk of the activity of both companies.

06.07.2016
Temporary reduction of fees in KDPW_CCP (non-organised trading)

09.06.2016
KDPW_CCP’s First Foreign Clearing Member ABN AMRO Clearing Bank N.V. live on the Warsaw Stock Exchange
ABN AMRO Clearing Bank N.V., KDPW_CCP’s first foreign participant, has started to clear transactions on GPW’s cash and derivatives market. As a general clearing member of the KDPW_CCP, ABN AMRO will open access to the Polish capital market for investors using the bank’s global post-trade services. Increase in the number of active investors on the Polish capital market will help to improve liquidity on GPW and grow the trading volume.​

04.04.2016
KDPW_CCP starts publishing data in compliance with CPMI-IOSCO standards
As of 1st April, 2016 KDPW_CCP started publishing quantitative data in compliance with standards set by CPMI-IOSCO in their document Public quantitative disclosure standards for central counterparties. An additional material containing a qualitative description of KDPW_CCP in the area of risk management has been produced and published as well. Both publications will have information and data gradually added and updated.

18.01.2016
Extension of the temporary waiver of fees in organised trading in the years 2016.

08.01.2016
Amendment of Appendix 7 to the Detailed Rules of the OTC Clearing System
The amendments of the Detailed Rules of the OTC Clearing System under Resolution No. 26/2015 of the KDPW_CCP S.A. Management Board dated 31 December 2015 enter into force on 19 January 2016.
The amendments introduce a new measurement method of the utilisation of the collateral limit and the credit limit (Appendix 7 to the Detailed Rules of the OTC Clearing System).

22.12.2015
Electronic Invoices
KDPW and KDPW_CCP offer their partners the option of receiving electronic invoices as of 31 December 2015. The new functionality will facilitate the process of invoice delivery and eliminate paper mail in support of environmental protection and paper consumption savings.

18.11.2015
PKO Bank Polski Clears the First OTC derivatives in KDPW_CCP
PKO Bank Polski, the biggest Polish bank, has joined active participants of the clearing house KDPW_CCP in the clearing of OTC derivatives denominated in PLN. Trade clearing and guarantees are supported by a dedicated module otc_clearing.

23.10.2015
Iwona Sroka Appointed to the Social Dialogue Council
The President of Poland Andrzej Duda has appointed members of the Social Dialogue Council on 22 October 2015 including Iwona Sroka, CEO & President of KDPW and KDPW_CCP, Vice President of Employers of Poland. The Council, which replaced the Tripartite Committee for Socio-Economic Affairs established in 2001, has 59 members representing employers, trade unions and the government. Representatives of the President of Poland, the Governor of NBP and the President of the Central Statistical Office sit on the Council as advisors.

23.10.2015
KDPW_CCP Vice President Sławomir Panasiuk Appointed Chairman of the WIBOR Council
Mr Sławomir Panasiuk, Vice-President of KDPW_CCP, has been appointed Chairman of the WIBOR Council at the Council’s meeting on 19 October 2015. Mr Norbert Jeziolowicz was appointed Secretary to the WIBOR Council.

03.09.2015
Mandatory testing of the key aspects of the procedure in the event of default
On 25 November 2015 we will conduct, with the involvement of market participants, testing of the key aspects of the procedure in the event of default under transactions accepted by KDPW_CCP for clearing in the clearing system for transactions concluded in organised trading and in the OTC clearing system (non-organised trading).

20.08.2015
KDPW_CCP and GPW Facilitate Risk Management by Clearing Members
KDPW_CCP and GPW have opened access to the Risk Management Access (RMA) application for all entities clearing transactions on the exchange. The service facilitates risk management and improves the safety of trade in financial instruments on GPW.

13.08.2015
First Foreign Clearing Member of KDPW_CCP
​ABN AMRO Clearing Bank N.V. is the first foreign entity to become a clearing member of the KDPW_CCP clearing system. Currently 37 financial intuitions have the status of KDPW_CCP member – regulated market and 16 – for OTC market.

04.08.2015
Planned changes to reporting resulting from Level 2 Validation
The ESMA is expected to announce in September the requirement of imposing new, stricter controls of LEIs effective three months after the announcement date. In this connection, please note the information provided by KDPW_TR on STEP 2 (correspondence): under the ESMA requirements, each counterparty has the obligation to get an LEI, to have it updated and regularly renewed.

03.07.2015
Insurance against Financial Consequences of Operational Risk
The Central Securities Depository of Poland (KDPW) has extended an insurance contract with AIG Europe Limited with a sum insured of PLN 100 million. The contract valid until 30 June 2016 insures KDPW S.A. and KDPW_CCP S.A. against operational risk of the activity of both companies.

30.06.2015
KDPW and KDPW_CCP Management Board Appointed for a New Term
The Annual General Meeting of Krajowy Depozyt Papierów Wartościowych (KDPW) convened on 26 June 2015 have unanimously elected Dr Iwona Sroka as President of the Management Board of KDPW for the next term of office. Iwona Sroka was first elected KDPW President on 30 July 2009.

23.06.2015
Amendments of the appendices to the Detailed Rules of Transaction Clearing
Amendments of the Detailed Rules of Transaction Clearing (organised trading) approved in Resolution No. 8/15 of the KDPW_CCP S.A. Management Board dated 19 June 2015 enter into force on 6 July 2015. The amendments concern Appendices 3 and 5 to the Detailed Rules of Transaction Clearing (organised trading) and relate to the discontinuation of support for the PRCM methodology.

23.06.2015
WCMS 2015 Participants See Much Potential of Poland and the Region
The fifth edition of the international Warsaw Capital Market Summit on 18 June brought together several hundred guests representing investment firms, banks, issuers, representatives of financial institutions and the public administration, as well as financial journalists from around the world. The Warsaw Capital Market Summit 2015 is an event devoted to capital markets in Poland and in Central and Eastern Europe.

16.06.2015
KDPW_CCP and GPW Promote Small and Medium-sized Companies
KDPW_CCP and GPW have decided to temporarily waive fees charged from market makers of small and medium-sized companies. The goal is to promote the liquidity of trade in shares of small and medium-sized companies listed on the GPW Main Market and on NewConnect. The promotion is open from 1 July to 31 December 2015.

15.06.2015
The fifth edition of the Warsaw Capital Market Summit will take place this Thursday
The Warsaw Capital Market Summit 2015 is an international conference devoted to capital markets in Poland and the Central and East European region. This year’s conference, its fifth edition, will be taking place on 18 June at the Warsaw Stock Exchange. The event will bring together investors, issuers, representatives of financial institutions and public administration, as well as financial journalists from across the globe.

11.06.2015
KDPW Group at IDX London
The KDPW Group together with the Warsaw Stock Exchange takes part in the International Derivatives Expo (IDX) in London on 9-10 June 2015. KDPW and KDPW_CCP representatives have introduced the international group of participants to services dedicated to the derivatives market.

29.05.2015
KDPW_CCP Clears First OTC Trades in PLN
KDPW_CCP has cleared the first inter-bank market (OTC) trades denominated in PLN between Citi Handlowy and mBank. Trade on the inter-bank market is processed and guaranteed in the dedicated module, otc_clearing, developed by KDPW_CCP in co-operation with Poland’s biggest banks operating on the inter-bank market.

22.05.2015
Discontinued support of MPKR methodology as of 30 June 2015
As previously communicated in letter no. CCP/ZW/138/2015 of 5 March 2015, please be reminded that the MPKR methodology will no longer be supported as of 30 June 2015 to the extent of the distribution of files containing risk parameters and scenarios (ZAR files).

05.05.2015
SWIFT Warsaw Business Forum
The third SWIFT Warsaw Business Forum, organised in cooperation with The Central Securities Depository of Poland (KDPW) will take place on 20 May 2015.

27.03.2015
Amendments of the Appendices to the Detailed Rules of the OTC Clearing System
Amendments of the Detailed Rules of the OTC Clearing System approved in Resolution No. 4/15 of the KDPW_CCP S.A. Management Board dated 25 March 2015 enter into force on 8 April 2015.

17.03.2015
Amendment of the Rules of Transaction Clearing (organised trading)
1 April 2015 is the effective date of amendments of the Rules of Transaction Clearing (organised trading) under Resolution no. 41/164/14 of the Supervisory Board of KDPW_CCP S.A. dated 20 November 2014.

17.03.2015
Amendment of the Rules of Transaction Clearing (non-organised trading)
1 April 2015 is the effective date of amendments of the Rules of Transaction Clearing (non-organised trading) under Resolution no. 42/165/14 of the Supervisory Board of KDPW_CCP S.A. dated 20 November 2014.

20.02.2015
Award for the first foreign direct participant in KDPW
During the Stock Exchange Review of the Year Gala, the KDPW Group presented its awards for participants for 2014. One of the recipients was Raiffeisen Bank International from Vienna – the first foreign participant opening an omnibus account directly in KDPW. The account is used to hold the securities of the bank’s clients, registered in KDPW and traded on the Polish market.

20.02.2015
KDPW Group 2014 Most Active Participant Awards
During the Stock Market Review Gala held at Centrum Giełdowe in Warsaw on 19 February, the KDPW Group presented awards to KDPW and KDPW_CCP Participants who were especially active in the post-trade sector. The awards went to Dom Maklerski BOŚ S.A., Raiffeisen Bank International AG and Dom Maklerski X-Trade Brokers S.A.

13.02.2015
KDPW_TR’s First Year in Business
It has been one year since the KDPW_TR Trade Repository launched its business. Over that period, the Trade Repository has accepted 105 Million reports of 25,5 Million trades in derivatives. KDPW_TR has 171 Participants in 12 countries.

12.01.2015
Futures Masters Competition Opens
The Futures Masters competition, designed to introduce futures contracts to a large group of investors, opens in January 2015. An Analyst Dream Team of eleven brokerage houses is engaged in the competition. The competition spans over five weeks and offers five opportunities to win cash prizes and awards worth PLN 70 thousand in total.

02.01.2015
KDPW Group 2014 Highlights
The past year at the KDPW Group was a time of focused efforts to harmonise with the new financial market framework put in place by European post-crisis regulations. In April, the clearing house KDPW_CCP was authorised by the European regulator under EMIR as the third CCP in Europe. The KDPW Group introduced securities netting and automatic partial settlement; these functionalities reduce costs and enhance the attractiveness of the local financial market for Polish and foreign participants. Furthermore, KDPW developed the functionalities of the Trade Repository and the Numbering Agency which issues LEI codes among others. The settlement cycle was reduced from T+3 to T+2 for cash market instruments.

30.12.2014
KDPW Group: Services at the European Level
Poland has the biggest and most developed financial market in Central and Eastern Europe. The capital market is its strong advantage: it accounts for 60 percent of exchange trade in this part of Europe, boasts a stable investor pool, a diversified range of instruments, and a well-developed post-trade infrastructure.

12.12.2014
Extension of the temporary waiver of fees in non-organised trading in the years 2014 and 2015
The KDPW_CCP S.A. Supervisory Board has decided to continue the temporary waiver of the fees.

24.11.2014
KDPW as the Numbering Agency Started to assign FISN codes
It may not be obvious for everyone that the Central Securities Depository of Poland (KDPW) is a numbering agency. However, it is a fact that KDPW is the only institution in Poland and one of few institutions in Europe to offer such a broad range of numbering services for financial market entities and instruments. As of November 2014, KDPW also issues FISN codes which provide a simple and standardised description of financial instrument characteristics.

07.11.2014
KDPW Has Ensured Safety and Stability of Financial Market for 20 Years
It will have been 20 years on 7 November 2014 since Krajowy Depozyt Papierów Wartościowych (KDPW, the Central Securities Depository of Poland) was established as a stand-alone company with a mission of ensuring safe trading on the capital market. KDPW is responsible for the clearing and settlement of trade on organised and OTC markets. In the last 20 years, KDPW has settled more than 201 million trades worth PLN 86 trillion (which is over 30 times more than this year’s government revenue target).

23.10.2014
Continuation of the temporary reduction of KDPW_CCP fees of clearing transactions covered by the HVP program
KDPW_CCP Supervisory Board decided to continue the temporary reduction of KDPW_CCP fees of clearing transactions covered by the High Volume Provider programme introduced by the Warsaw Stock Exchange.

22.10.2014
KDPW_TR Trade Repository Receives the Bloomberg Businessweek Polska Award
​The KDPW Trade Repository service (KDPW_TR) has received the prestigious Business Premium 2014 award presented for the first time by the editors of Bloomberg Businessweek Polska. The awards were presented in Warsaw on 21 October 2014. KDPW President & CEO Iwona Sroka received the award from Editor-in-Chief Cezary Szymanek.

14.10.2014
FOW Derivatives World CEE 2014
​On 14 October 2014 Warsaw brought together the people who are leading the derivatives industry in CEE for a day of discussion, debate and networking during FOW Derivatives World CEE. The event focused on Poland but also incorporated other growth areas in CEE.

03.10.2014
The Monetary System Council recomendation
​​The Monetary System Council, an opinion-giving and advisory body closely tied with the Management Board of the National Bank of Poland, has recommended that banks send OTC derivatives trades and repo transactions for clearing to an authorised CCP clearing house.

03.10.2014
Polish Capital Market Ready for Change of Settlement Cycle from T+3 to T+2
The Central Securities Depository of Poland (KDPW) changes the settlement cycle from T+3 to T+2 as of 6 October 2014. The shorter settlement cycle will have a positive impact on KDPW and KDPW_CCP participants as well as investors. For investors, transactions will be closed within a shorter period of time: investors will receive securities (buyers) and cash (sellers) sooner. The new settlement cycle will also have an impact on processes of the exercise of rights attached to securities, which will be transferred 1 day earlier than before.

01.10.2014
​Polish panel at SIBOS Boston 2014
"Polish financial sector – leading edge of global innovation" was the title of panel discussion taking place on 30 September during this year’s SIBOS conference. The session presented Poland’s achievements in the financial sector – a branch of the Polish economy which was built up almost from nothing in the 25 years of transformation. During this period phenomenal progress has been made that enabled the Polish financial sector to achieve a significant position in comparison with other European and global markets and become an undisputed leader in certain innovative arrangements, notably in the area of retail payment systems.

01.10.2014
Negotiated securities lending system has launched
​The negotiated securities lending and borrowing system organised by KDPW_CCP in co-operation with KDPW has launched on 1 October 2014.

05.08.2014
​Securities Netting: Lower Settlement Cost
The clearing house KDPW_CCP has launched the securities netting mechanism as of 4 August 2014, which means in practice that KDPW_CCP may generate one settlement instruction sent to KDPW (or another settlement institution) for securities and/or cash settlement for all operations which credit and/or debit a designated settlement account.he clearing house KDPW_CCP has launched the securities netting mechanism as of 4 August 2014, which means in practice that KDPW_CCP may generate one settlement instruction sent to KDPW (or another settlement institution) for securities and/or cash settlement for all operations which credit and/or debit a designated settlement account.

05.08.2014
Automatic Partial Settlement at KDPW as of 4 August
​The Central Securities Depository of Poland (KDPW) offers the automatic partial settlement functionality as of 4 August 2014 in order to optimise the trade settlement process.

01.08.2014
KDPW_CCP 2013 Annual Report
​Read KDPW_CCP 2013 Annual Report

29.07.2014
KDPW_CCP Supervisory Board and risk Committee of a New Term of Office
The KDPW_CCP General Meeting elected the following members of the KDPW_CCP Supervisory Board: Karol Półtorak (Chairman), Piotr Szpunar (Vice-Chairman), Norbert Jeziolowicz, Iwona Lewińska, Witold Małecki, Dariusz Witkowski

23.07.2014
Amendment of KDPW_CCP regulations in connection with the implementation of netting in cash market clearing
The purpose of the amendments is to enable KDPW_CCP to launch transaction clearing using netting and aggregation of credits and debits in securities arising from cleared transactions concluded in the regulated market or the alternative trading system.

07.07.2014
Insurance against Financial Consequences of Operational Risk
​The Central Securities Depository of Poland has extended an insurance contract with AIG Europe Limited with a sum insured of PLN 100 million. The contract valid until 30 June 2015 insures KDPW S.A. and KDPW_CCP S.A. against operational risk of the activity of both companies.

07.07.2014
Single Guarantee Fund for WSE ATS and Bondspot ATS
​BondSpot, WSE and KDPW_CCP have established a single guarantee fund securing the clearing of transactions concluded in the alternative trading system (ATS). The combination of the funds will enable KDPW_CCP Participants to reduce debits in respect of contributions to two separate ATS guarantee funds and administrative costs related to on-going registration of payments.

27.06.2014
New service of KDPW_CCP: reporting of clients’ collateral posted by clients with Clearing Members
Pursuant to Article 5(5) of Commission Implementing Regulation No 1247/2012 of 19 December 2012, the reporting start date for collateral posted by clients is 180 days after RSD (trade reporting start date), i.e., 11 August 2014.

25.06.2014
Modifications to post-settlement messages
Following the implementation on 28 - 29 June 2014 (weekend) of a new version of kdpw_stream software with inactive new services: securities netting for cash market clearing (KDPW_CCP) and automatic partial settlement (KDPW), new versions of post-settlement messages will be implemented in the kdpw_stream production system as of 30 June 2014 (Monday).

16.06.2014
New WSE BondSpot ATS Guarantee Fund
The existing ATS guarantee funds, i.e., the guarantee fund securing the clearing of transactions concluded in the alternative trading system organised by the Warsaw Stock Exchange and the guarantee fund securing the clearing of transactions concluded in the alternative trading system organised by BondSpot S.A., will be liquidated on 30 June 2014 and replaced as of that day with a new WSE BondSpot ATS guarantee fund securing liabilities under KDPW_CCP S.A.’s clearing of transactions concluded in the alternative trading system organised by the Warsaw Stock Exchange and BondSpot S.A., respectively (including transactions concluded before the opening date of liquidation of the funds in liquidation).

04.06.2014
„We shape the Polish financial market” – new campaign of the KDPW Group
„We shape the Polish financial market” – it’s the key message of new marketing campaign od KDPW Group that celebrates both, 20th anniversary of KDPW and 25 years of Polish freedom.

26.05.2014
The settlement cycle for instructions sent by KDPW_CCP for settlement to KDPW will change from T+3 to T+2 as of 6 October 2014
The settlement cycle for instructions sent by KDPW_CCP for settlement to KDPW will change from T+3 to T+2 as of 6 October 2014. The change of the settlement cycle to the T+2 standard harmonises the Polish market with the standards under implementation in the European Union and follows from the harmonisation of the rules applicable on the Polish market with CSDR (Regulation of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories).

26.05.2014
4 August 2014 - the implementation of securities netting
The implementation deadline of new functionalities including in particular partial settlement (KDPW) and securities netting (KDPW_CCP) will be postponed at the request of KDPW Participants and KDPW_CCP Participants.

23.05.2014
Further to information to the effect that Dom Maklerski IDM SA has filed an application for the declaration of bankruptcy with the option of arrangement, KDPW and KDPW_CCP follow the applicable regulations.

19.05.2014
European Clearing & Settlement 2014
The Central Securities Depository of Poland (KDPW) and KDPW_CCP are Partners of this year's European Clearing & Settlement, which will be held on 25-26 June in London.

09.04.2014
EU Authorisation of KDPW_CCP Clearing House. Third Clearing House in Europe!
The Polish Financial Supervision Authority (KNF) has authorised the clearing house KDPW_CCP on 8 April 2014, confirming that it fulfils all requirements for such institutions under the EU Regulation EMIR.

27.01.2014
Amendment to KDPW_CCP Regulations
To harmonise the KDPW_CCP regulations with the provisions of Regulation of the European Parliament and of the Council (EU) No 648/2012 of 4 July 2012 
on OTC derivatives, central counterparties and trade repositories (“EMIR”) and the EMIR implementing technical standards on requirements for central counterparties, the following KDPW_CCP S.A. regulations effective as of 3 February 2014 have been published on 20 January 2014.

10.01.2014
Year 2013 In KDPW Group
KDPW Group, comprised of the Central Securities Depository of Poland (KDPW) and the clearing house KDPW_CCP, implemented several projects key to the quality of the post-trading infrastructure in Poland in 2013.

30.12.2013
KDPW Is Granted Pre-LOU Status
According to a decision of the Regulatory Oversight Committee (ROC), the regulatory supervisory body of the global LEI system, the Central Securities Depository of Poland (KDPW) has been awarded the pre-LOU status. As a result, identifiers assigned by KDPW in order to report data to trade repositories become pre-LEIs. This also concerns identifiers (KEIs) assigned by KDPW before 27 December 2013.​

02.12.2013
Get an LEI in KDPW
From 29 November 2013, identifiers under the LEI standard are available in an easy and quick procedure on the KDPW website. The identifier is required to report trade details to trade repositories.

12.11.2013
Timeline of processing the application for the authorisation of KDPW_CCP under EMIR
On 4 November 2013, the clearing house KDPW_CCP was received notification of the Polish Financial Supervision Authority (KNF) that the application for the authorisation of the clearing house under the requirements of EMIR is complete. KDPW_CCP will receive KNF’s decision concerning the authorisation by 6 May 2014.

08.11.2013
ESMA Has Registered KDPW Trade Repository as One of the First Four in Europe
​The European Securities Market Authority (ESMA) has registered the KDPW Trade Repository, confirming that it fulfils all trade repository requirements under EMIR. The KDPW Trade Repository (KDPW_TR) is one of the first four such institutions to be registered in Europe and the only one in Central in Eastern Europe.

17.10.2013
KDPW_CCP To Clear and Guarantee Clearing of New Instruments Introduced to Trading on WSE
KDPW_CCP will be clearing new instruments: futures contracts on WIBOR reference rates and futures contracts on Treasury bonds to be introduced to trading on the exchange as of 18 October 2013.

08.10.2013
Find out more about LEI
According to delegated regulations adopted under the European Markets Infrastructure Regulation (EMIR), entities are required to hold identifiers necessary to report details of derivatives trades to trade repositories.

04.10.2013
The 6th Annual Derivatives World CEE
The 6th Annual Derivatives World CEE organised by the Futures & Options World magazine took place in Warsaw on 3 October 2013. KDPW_CCP was the event partner.

20.09.2013
Consultations with banks on expansion of the OTC clearing service have been completed
Consultations with banks on the addition of currency derivatives to the CCP’s OTC clearing service have been completed. The service will be made available in stages starting at the beginning of 2014. It will expand the service dedicated to interest rate derivatives cleared in PLN. The approved model and the scope of instruments covered by the project result from the consultations with banks.

04.07.2013
Insurance Against Financial Consequences of Operational Risks
The Central Securities Depository fof Poland (KDPW S.A.) and AIG Europe Limited have signed a PLN 100 million (ca. EUR 24 million) insurance agreement. The agreement is effective until 30 June 2014. The agreement provides insurance coverage against operational risks of the core and auxiliary business of the securities depository KDPW S.A. and the clearing house KDPW_CCP S.A.

28.06.2013
KDPW_CCP Clearing House Files Application for Authorisation under EMIR
On 28 June 2013, the clearing house KDPW_CCP filed with the Polish Financial Supervision Authority an application for the authorisation of the clearing house under EMIR*, the European Regulation which sets out, among others, single requirements for clearing houses in the European Union. The authorisation will confirm KDPW_CCP’s capacity of providing services in compliance with EU standards across the EU and allow parties required to clear specific classes of OTC derivatives to fulfil the obligation.

13.06.2013
Representatives of Brokerage Houses, Banks and Investors to Give Opinions on Key Regulations of KDPW_CCP
The Supervisory Board of KDPW_CCP has appointed the Risk Committee on 12 June 2013. The Committee is comprised of independent members of the Supervisory Board, representatives of brokerage houses, banks and investors.

03.06.2013
Introduction of separate risk parameters for intraday margins.
Amendments to the KDPW_CCP Detailed Clearing Rules concerning the rules of calculating minimum amounts charged by participants to clients placing orders for derivatives trades take effect as of 5 June 2013.

16.05.2013
Reporting derivative contracts to a trade repository via KDPW_CCP
KDPW_CCP is working to launch a service whereby, as of the effective date of the obligation of reporting derivative contracts to a trade repository, KDPW_CCP will be reporting derivative contracts also on behalf of participants in keeping with the rule of avoiding double reporting under the requirements of Article 9.1 of EMIR.

01.05.2013
Temporary reduction of fees for clearing of repo transactions (OTC trade)
KDPW_CCP has reduced fees for clearing of repo transactions to 1/2 of the basic fee for a determined period (from 1 May to 31 December 2013).

10.04.2013
Implementation of a new trading system (UTP) for the cash market and the derivatives market by the Warsaw Stock Exchange and the clearing and settlement procedure on 16 April 2013
In connection with the implementation of UTP by the WSE on 15 April 2013, in particular the WSE’s decision to have no trading session on 16 April 2013, please be reminded that KDPW_CCP performs clearing and KDPW performs settlement of exchange trade on 16 April 2013. This means that 16 April 2013 will be included in the calculation of the due date of settlement of transactions with a fixed clearing cycle (e.g., T+3 for shares, T+2 for bonds) and on that day:

  • transactions whose due date of clearing or settlement is 16 April 2013 will be cleared and settled;
  • kdpw_stream will distribute standard clearing and settlement reports (messages);
  • the amount of margins may change due to cash market settlement on that day and the shorter time to maturity of options.

29.03.2013
Temporary reduction of KDPW_CCP fees (OTC trade)
KDPW_CCP has reduced the fee for an entry in the register of participants and the participation fee in the year 2013 to 1/2 of the fee for a determined period for those clearing members who:
1/ acquire participation status in the OTC clearing system between 2 April 2013 and 30 June 2013, and subsequently
2/ comply with the obligations referred to in § 24.1 of the Transaction Clearing Rules (Non-organised Trading) by 31 December 2013.

20.02.2013
First KDPW_CCP Participant in OTC Derivatives Clearing
Raiffeisen Bank Polska S.A. is the first entity to become a member of the clearing house KDPW_CCP in OTC derivatives clearing.​

19.02.2013
Iwona Sroka among Poland’s Most Influential Women
Iwona Sroka, CEO and President of KDPW and KDPW_CCP, has once again been ranked among the Top 50 Influential Women and took the high 9th position in the prestigious Home & Market magazine ranking.

08.02.2013
Nasdaq OMX about cooperation with KDPW_CCP
The world's largest exchange company Nasdaq OMX, announced that its OTC clearing and risk management solution, Sentinel, is a part of KDPW_CCP's OTC post-trade platform.

28.01.2013
KDPW and KDPW_CCP In 2012

In 2012, KDPW Group focused on the launch of new services expanding the offer available on the Polish financial market: OTC derivatives clearing by KDPW_CCP and KDPW’s trade repository. Last year also brought a new electronic communication channel for issuers, two further operational links with foreign securities depositories, and the launch of the hold-release service.


20.12.2012
Temporary waiver of fees for clearing members in OTC trade
The clearing house KDPW_CCP has prepared promotional terms for institutions which decide to join the clearing house in OTC trade by 29 March 2013.​

20.12.2012
New Services of KDPW and KDPW_CCP for the Banking Sector

A joint press conference of the Polish Banks’ Association, KDPW and KDPW_CCP introduced among others new services offered by the KDPW Group to the banking sector: clearing and guaranteeing trade in OTC derivatives, and a trade repository. The solutions address European regulations (EMIR Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR).), aiming to rebuild trust on the interbank market and improve its liquidity, which has been strongly affected by the turbulences on the financial markets in the past years.

 


19.12.2012
KDPW_CCP Starts OTC Derivatives Clearing on 2 January 2013
On 19 December 2012, the Financial Supervision Commission approved the Transaction Clearing Rules (Non-organised Trading). The provisions of the Rules are available in the "Regulations" tab. The Rules take effect as of 2 January 2013. As of that date, the clearing house KDPW_CCP will start clearing trade in the OTC clearing system.​

 


07.12.2012
Pearls of Polish Business 2012
KDPW President & CEO Iwona Sroka receives an honorable mention in a poll on the "Pearls of Polish Business 2012" on the most enterprising women in Poland, conducted by the Gazeta Finansowa business newspaper.​


03.12.2012
Akcjonariat Obywatelski: Inwestuj Świadomie – Summary 2012
This year’s edition of the education and information campaign Civic Shareholding. Know How To Invest implemented by the Ministry of the State Treasury with the support of many partners including KDPW has come to an end. The 29 meetings held in 2012 have gathered 2,100 participants. Workshops in Katowice, Rzeszów and Poznań attracted particular interest and brought together 130 – 160 participants each. In November alone, workshops were attended by over a thousand participants wishing to expand their knowledge of capital market mechanisms. More meetings are scheduled to take place in other cities including Warsaw, Częstochowa, Kielce and Wrocław in early January 2013 after a short break this December.​

20.11.2012
KDPW_CCP made available for testing the kdpw_otc system
On 19 November 2012, as previously announced, the clearing house KDPW_CCP made available for testing the kdpw_otc system which supports the clearing of OTC trade. The production roll-out of the service will take place following the publication and entry into force of the Transaction Clearing Rules for non-organised trading drafted by KDPW_CCP.​

30.10.2012
CEO Iwona Sroka among Poland’s Top Women Managers
The weekly Wprost has published the ranking of Poland’s Top 50 Women Managers prepared on the basis of a manager survey. Iwona Sroka, President and CEO of the National Depository for Securities and KDPW_CCP, was named the third best woman manager in Poland.​

29.10.2012
The Financial Supervision Authority has approved the amendments to the Transaction Clearing Rules which introduce novation to clearing
The Financial Supervision Authority has approved the amendments to the Transaction Clearing Rules of the clearing house KDPW_CCP which introduce novation to clearing. Thanks to novation, the clearing house becomes a central counterparty (a buyer to each seller and a seller to each buyer) while the mutual rights and obligations of original trade counterparties expire. Novation applies to all trade cleared in KDPW_CCP.​

25.10.2012
Template declarations concerning clearing of trade made in organised trading through novation
The website kdpwccp.pl under the tab Handy / Document templates now presents the template declarations to be submitted to KDPW_CCP S.A. before the clearing of trade made in organised trade by means of novation can start. Declarations may be signed as of the publication of the amendments of the Transaction Clearing Rules which introduce novation to the clearing system. The publication of the amendments to the Rules and the date of the launch of the clearing service using novation will be announced in a message posted on the website.​

05.10.2012
KDPW_CCP and everything’s cleared – a new multimedia presentation
KDPW_CCP and everything’s cleared is a new presentation now available on the corporate website. The spin-off of the clearing house from the National Depository as of 1 July 2011 was a major milestone in the history of KDPW and the entire Polish market.​

14.09.2012
20 September 2012: Meeting regarding the launch of OTC clearing in KDPW_CCP
On 20 September KDPW_CCP would like to invite to the meeting regarding the launch of OTC clearing system. The meeting starts at 10.00 am in KDPW_CCP headquarter, Warsaw, Ksiazeca 4, VI floor.​

17.08.2012
3rd CEE Financial Center Meeting
KDPW_CCP became a Partner of the 3rd CEE Financial Center Meeting on 11-12 September 2012 at the Warsaw Stock Exchange, organized by WM Gruppe, the publisher of the Frankfurt-based daily paper Borsen-Zeitung, and the Warsaw Stock Exchange.

03.08.2012
Novation in Clearing: New Addition to the Polish Legal System

4 August 2012 is the effective date of new provisions of the Act on Trading in Financial Instruments which for the first time introduce the concept of novation in clearing to the Polish legal system. Thanks to novation, the clearing house becomes the central counterparty, i.e., the buyer for every seller and the seller for every buyer, taking over the mutual rights and obligations of the original parties to a trade. This applies to all trades cleared by KDPW_CCP.​


04.07.2012
Insurance Against Financial Consequences of Operational Risks

The National Depository for Securities (KDPW S.A.) and Chartis Europe S.A. have signed a PLN 100 million (ca. EUR 24 million) insurance agreement. The agreement is effective until 30 June 2013. The agreement provides insurance coverage against operational risks of the core and auxiliary business of the securities depository KDPW S.A. and the clearing house KDPW_CCP S.A.


02.07.2012
KDPW_CCP Clearing House Closes First Year of Operation

The clearing house KDPW_CCP clears and guarantees clearing of trade on the Polish capital market. The value of trade in 2011 was over PLN 616 billion and the number of cleared transactions is 20 million transactions per year or over 50 thousand transactions per day including bank holidays.


25.06.2012
KDPW_CCP Equity Raised to PLN 200 Million Supervisory Board Appoints Management Board for a New Term

The General Meeting of Shareholders of the clearing house KDPW_CCP has decided to increase the Company’s share capital to PLN 200 million. This means that the equity of the clearing house is increased by PLN 100 million – additional resources supporting the multi-tier clearing guarantee system operated by the clearing house. The Supervisory Board has appointed the Company’s Management Board for the next term of office. Iwona Sroka has been appointed President of KDPW_CCP, Sławomir Panasiuk – Deputy President, and Michał Stępniewski – Management Board Member; they served in these functions during the previous term.


06.06.2012
KDPW and KDPW_CCP at the 16th WallStreet Conference in Zakopane

The 16th edition of the WallStreet Conference, the biggest gathering of individual investors in CEE, has closed in Zakopane. This year’s event was organised by the Association of Individual Investors (SII) with the support of many partners and brought together a record number of participants. More than 800 representatives of financial institutions, CEOs of listed companies, analysts and business journalists came to the Zakopane event. The special guest of the event was Birger Schaefermeier, a leading European trader who operates a EUR 100,000 investment account live from an online trading room. The conference participants took part in many presentations, special lectures, and debates about the market outlook. Investors met and talked with financial institution managers.​


28.05.2012
KDPW_CCP Signs Agreements with SWIFT and MarkitSERV

The clearing house KDPW_CCP has signed agreements with two platforms which will be sending OTC derivatives trade clearing instructions to KDPW_CCP. The clearing house will be using two services: SWIFT and MarkitSERV.​


15.05.2012
KDPW and KDPW_CCP at the Fourth European Economic Congress in Katowice
The capital city of the Upper Silesia for the fourth time hosts the most prominent event in Central Europe: the European Economic Forum. More than 6 thousand participants including the President of Poland Bronisław Komorowski, EU Commissioners, politicians, businessmen and the media will spend three days in discussions on the current affairs and the economic outlook of the European Union. The Katowice congress has become part of the landscape of key economic events in the region.

08.05.2012
EACH celebrates its 20th Anniversary

Founded in 1992 by the European central counterparty clearing houses, EACH has for 20 years now been the central counterparties' voice in Europe and has as such successfully worked for greater market transparency and the refinement of international standards on clearing and settlement.


26.04.2012
The change of multipliers

Following a change of multipliers for FCHF, FUSD, FEUR currency futures contracts from 100 to 10, please be advised that the ZAR and ZRS files (both endofday and intraday) will contain data with the new multipliers on 30 April.​


20.04.2012
Visit KDPW_CCP Exhibition Stand at TradeTech Emerging Markets on 24 April
 
KDPW_CCP takes part in this year’s TradeTech in London on 24-26 April 2012. TradeTech is one of the largest financial sector events in Europe.

13.02.2012
KDPW_CCP Clearing House and NASDAQ OMX Establish Co-operation

NASDAQ OMX will supply KDPW_CCP with an OTC clearing and risk management module. The companies signed a formal agreement on 3 February 2012. Under the contract NASDAQ OMX will supply KDPW_CCP with its Sentinel Risk Manager product in order to support trade lifecycle and risk management requirements for clearing of OTC traded instruments. The clearing house KDPW_CCP is currently working to develop an OTC derivatives and repo clearing service. According to the work timetable, the service will be available as of the beginning of 2013.​​


10.02.2012
The 100th Resolution of the Advisory Committee at the National Depository for Securities (KDPW) in Warsaw
 
On 10 February 2012, the Advisory Committee at the National Depository for Securities (KDPW) issued its 100th Resolution.
The Advisory Committee was established on the basis of the provisions of the Law on Trading in Financial Instruments and began operating on 20 December 2005. In accordance with the Law, its membership is open to representatives of key financial market institutions – the Warsaw Stock Exchange, BondSpot, the Polish Chamber of Brokerage Houses, the Polish Custodian Bank Council at the Polish Bank Association, the Polish Association of Listed Companies and representatives of foreign institutions.

29.12.2011
Year 2011 at KDPW and KDPW_CCP
 
The creation of the clearing house KDPW_CCP is the highlight of the past year at the National Depository. As a result, the Polish market complies with global standards of clearing houses and central securities depositories. The challenge of 2012 is to implement interbank OTC derivatives clearing.

31.10.2011
Iwona Sroka Named Pearl of Polish Business 2011

Iwona Sroka, the President and CEO of the National Depository for Securities, has been awarded in the Pearls of Polish Business 2011 ranking published by the weekly Gazeta Finansowa, a list of the most entrepreneurial Polish businesswomen.​


25.10.2011
KDPW_CCP CEO in the Polish Market Ranking

The monthly Polish Market has published the Tiaras of Management ranking of 50 distinguished women managers successful in business. KDPW_CCP CEO Iwona Sroka is one of the winners of the prestigious ranking.​


01.09.2011
New functionality related to the monitoring of transaction limits during a derivatives trading session on the Exchange

The Clearing House KDPW_CCP informs of the availability as of 1 September 2011 of its new functionality related to the monitoring of transaction limits during a derivatives trading session on the Exchange. The designed solution operates in real time in the kdpw_stream system. ​


12.07.2011
Insurance Against Financial Consequences of Operational Risks

The National Depository for Securities (KDPW S.A.) and Chartis Europe SA have signed a PLN 100 million insurance agreement. The agreement is effective until 30 June 2012. The agreement provides insurance coverage against operational risks of the core and auxiliary business of the securities depository KDPW S.A. and the clearing house KDPW_CCP S.A. ​


01.07.2011
Agreement with Markets Signed
 
The National Depository for Securities (KDPW) and the clearing house KDPW_CCP as one party and the markets where transactions will be cleared and settled by KDPW and KDPW_CCP as the other party signed an official agreement on 30 June 2011.

01.07.2011
KDPW_CCP Clearing House Starts Operations

KDPW_CCP, a clearing house spun off as a stand-alone company from the structure of the National Depository for Securities (KDPW) to clear transactions on the regulated market and in the alternative trading system and to operate the clearing guarantee system, started its operations on 1 July 2011.


01.07.2011
CCP: European Regulations

The National Depository for Securities (KDPW) has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW. ​


01.07.2011
Spin-off of KDPW_CCP: KDPW Strategy Consistently Pursued

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
New Clearing Guarantee System

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
The Clearing Fund: A New Approach

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
Sequence of Activating Resources of the Clearing Guarantee System

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
CCP: European Regulations

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 June 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
Simplification of KDPW_CCP Member Type Regulations

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
SPAN®: A New Risk Measurement Model

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


01.07.2011
KDPW_CCP … Is Only the Beginning

The National Depository has transferred to KDPW_CCP all functions related to the clearing of transactions executed on the regulated market and in the alternative trading system and the operation of the clearing guarantee system as of 1 July 2011. KDPW remains responsible for transaction settlement and central securities depository functions. The process implements world-class standards at KDPW and enhances the competitiveness of the Polish capital market. The spin-off of the clearing house from KDPW’s structure derives from the National Depository Strategy 2010-2013 adopted in late 2009 and consistently pursued among others to develop a new business model of KDPW.​


31.05.2010
Changes of the KDPW Rules - establishing settlement guarantor take effect
 
The amendment to the KDPW Rules took effect on 31 May 2010. The amendment concerns the guarantee system for the settlement of transactions concluded on the regulated market pursuant to resolution of the Supervisory Board of the National Depository for Securities dated 19 November 2009.

31.05.2010
Changes to the Settlement Guarantee System Take Effect
 
Changes to the guarantee system for the settlement of transactions concluded on the regulated market following the establishment of the company KDPW_CLEARPOOL by the National Depository took effect on 31 May 2010. An agreement between KDPW SA and KDPW_CLEARPOOL, whereby the National Depository may use the capital of the company KDPW_CLEARPOOL if assets available in the guarantee system for the settlement of transactions on the regulated market are insufficient to clear a transaction, took effect on the same day.

24.05.2010
KDPW_CLEARPOOL Positively Assessed by International Rating Agency
 
An international rating agency has assessed positively the creation of the settlement guarantor KDPW_CLEARPOOL, a company whose assets will support the KDPW settlement guarantee system. The creation of the guarantor is the first step towards separation of a CCP clearing house from the structure of the National Depository for Securities.

18.05.2010
Clearpool - Settlement Guarantor
 
The National Depository for Securities (KDPW S.A.) has established the company KDPW_CLEARPOOL which will act as transaction settlement guarantor. It is the first step in the spin-off from KDPW’s organisation of a clearing house according to the globally applied central counterparty model (CCP). The guarantor will be in a position to use its capital to guarantee the settlement of transactions.

18.05.2010
Order of actions using guarantee system
 
The creation of a settlement guarantor will reduce the risk of participation in the KDPW transaction settlement guarantee system as KDPW regulations will cap additional contributions to the guarantee fund which KDPW may call once the core resources of the guarantee system have been exhausted. In the event of insolvency of a system participant, the guarantor (the company KDPW_CLEARPOOL) will be in a position to use its assets to pay liabilities arising from cleared transactions concluded on the regulated market and covered by the guarantee fund.

18.05.2010
Order of actions using the assets of the transaction settlement guarantee system including the assets of the settlement guarantor

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