Monitoring of Exchange Members orders - RMA (Risk Management Access) service
The RMA service is dedicated to
clearing members with approval of those Exchange Members who use their clearing services.
The RMA service
is an additional, separate risk management instrument dedicated to clearing members and ensures the following:
- defining limits on orders of Exchange Members cleared by clearing members;
- blocking of new orders of an Exchange Member in instruments listed in the cash and/or derivatives market (“kill switch” functionality);
- cancellation of previously placed orders of an Exchange Member cleared by the clearing member (on activation of the “kill switch” functionality).
The checks of orders and trades of Exchange Members performed by their clearing members as part of the RMA service are very important to the stability of securities and cash flows and consequently improve the safety of trade in financial instruments.
The RMA service may be used in the following constellations:
Conditions of activation of the RMA service:
- controlled party: Exchange Member, controlling party: clearing member authorised by Exchange Member;
- controlled party and controlling party: one and the same Exchange Member.
- clearing member have to submit to KDPW_CCP the completed request (Form No. 30) and order (Annex to the Form No. 30);
- KDPW_CCP notifies GPW that the clearing member has ordered the service;
- the Exchange Member submits the RMA service (under the agreement with GPW).
The RMA service is provided by KDPW_CCP S.A. under an agreement with the Warsaw Stock Exchange (GPW).
Request for the RMA Service
RMA Service order
More about the service
Errors may be reported by RMA service users by e-mail: firstname.lastname@example.org