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.
The KDPW Supervisory Board met on 26 June 2015 and acting on request of President of the Management Board Dr Iwona Sroka appointed to the KDPW Management Board Mr Sławomir Panasiuk as Vice-President and Mr Michał Stępniewski as Member of the Management Board.
The KDPW_CCP Supervisory Board met on 26 June 2015 and appointed Dr Iwona Sroka as President of the Management Board of the next term of office, Mr Sławomir Panasiuk as Vice-President and Mr Michał Stępniewski as Member of the Management Board.
The companies KDPW and KDPW_CCP have a personal union, i.e., the members of the Management Board of KDPW are the members of the Management Board of KDPW_CCP.
“It is with a sense of honour and professional satisfaction that I welcome the decision of the shareholders who have shown confidence in the existing Management Board by appointing us for the next term of office. In my opinion, it is best proof that our strategy, the solutions implemented in the past years and the new services have been appreciated. As a strong and efficient team, this decision motivates us to make further efforts strengthening the infrastructure of the Polish financial market and aligning it with the best global standards,” said Iwona Sroka.
The General Meetings of KDPW and KDPW_CCP have approved the financial statements of the companies and granted a vote of discharge of duties to the members of their statutory authorities.
The shareholders of KDPW are in equal parts the State Treasury, the Warsaw Stock Exchange and the National Bank of Poland. KDPW is the sole shareholder of KDPW_CCP.
KDPW is the central securities depository of Poland. Its main functions include registration and safe-keeping of financial instruments, settlement of transactions on and off the regulated market, services for issuers, issuance of security and entity identifiers (LEI, ISIN, CFI, FISN), operation of the Trade Repository KDPW_TR, development of operational links, management of the Compensation Scheme. KDPW has been a stand-alone company since 1994, continuously strengthening its position on the Polish and international financial market by consistent implementation of the corporate strategy and introduction of state-of-the-art solutions.
KDPW_CCP is a modern clearing house which clears transactions using a range of mechanisms ensuring systemic mitigation of counterparty default risk. KDPW_CCP was authorised under the EU Regulation EMIR on 8 April 2014. The clearing house is responsible for clearing of transactions on the regulated market, in the alternative trading system and OTC trade, and for operation of a multi-tier clearing liquidity guarantee system, in compliance with the highest international standards. KDPW_CCP was spun off KDPW on 1 July 2011.