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.
In its decision to open an omnibus account in KDPW, RBI has not only acquired a professional partner skilled in providing such services as tax processing, it has also transferred the assets of its clients to the most secure level of securities safekeeping available – to the accounts of a central securities depository.
For several years, the Polish market has been attracting ever greater numbers of foreign investors. A natural consequence of this is the presence of remote members on the stock exchange in Warsaw and foreign participants in KDPW.
- Greater levels of interest from foreign investors and intermediaries is the result of efforts on the part of the whole Polish market in promoting the attractiveness of its issuers, their perspectives for growth, the broad range of instruments available in Poland, the presence of professional financial institutions and a mature post-trade infrastructure – said Iwona Sroka, President & CEO of KDPW. – We are delighted that RBI has selected KDPW and has opened its account here with us. This is a sign of the confidence our colleagues from Vienna have invested in us, recognising us as a safe and reliable partner – added Iwona Sroka.
- We are delighted and proud to receive this award from KDPW as it is the best recognition of what we have been constructing in the past 16 months: a direct settlement link between RBI and KDPW. Raiffeisen Bank International has been providing securities services to its institutional clients in 18 CEE countries through its local subsidiaries but thanks to an excellent cooperation and joint effort between Raiffeisen Bank International AG. and KDPW this number will not decrease even in light of the recent announcement that RBI intends to sell its Polish subsidiary, as RBI’s newly established securities services operations center in Vienna with a direct link to the Polish CSD will enable us to continue to service our clients in the Polish market - said Attila Szalay-Berzeviczy, Head of Group Securities Services at the Stock Exchange Review of 2014 Gala in Warsaw.
RBI is also the first direct participant with whom KDPW exchanges instructions using SWIFT-based messaging, which has been available as a means of communication with KDPW participants for many years.
Over the past few years, the KDPW Group has been working on a range of development projects, which have enabled it to offer the market a comprehensive range of services, including clearing and settlement, corporate actions processing, data management and national numbering agency responsibilities, in order to provide a complete and attractive service for Polish investment firms and investors, as well as foreign institutions operating in the Polish financial market.