Collateral management - KDPW_CCP

Collateral management

We operate a system securing the liquidity of clearing of transactions accepted for clearing that have been concluded in organised and non-organised trading by ensuring the availability of financial instruments or cash covered by these systems in accordance with the applicable Rules of Transaction Clearing (non-organised trading) in force at KDPW_CCP.

Accepted cash: PLN, EUR

Accepted securities posted as collateral:

  • Treasury bonds traded on the regulated market in the territory of the Republic of Poland,
  • shares of companies participating in the WIG20 index*,
  • debt securities in EUR issued by European Union Member States other than the Republic of Poland**.

* As of 3 July 2017 shares of companies participating in the WIG20 index will no longer be accepted as margins until further notice. KDPW_CCP will no longer include such shares in the list of securities referred to in § 47a subpara. 4 of the Rules of Transaction Clearing (organised trading). KDPW_CCP will re-enter shares of companies participating in the WIG20 index into the list of securities if any clearing member declares interest in such collateral, subject to the requirements set out in the aforementioned Rules.

** The service will be introduced at a later date. Consequently, the provisions of the Detailed Rules of transaction clearing (organised trading) to the extent of collateral posted in such securities will come into force – within two weeks of the date when KDPW_CCP notifies all participants in the manner referred to in the Rules of transaction clearing (organised trading) that it starts to accept deposits/margins and contributions to the funds in such securities.