Skip Ribbon Commands
Skip to main content
Navigate Up


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.

The amendments concern in particular the following:

  • Preparations for the introduction of the service of clearing OTC transactions denominated in EUR for the following classes of financial instruments (derivatives): Interest rate derivatives with the following underlying instrument: EURIBOR, EONIA (the service will be launched at a later date to be communicated to the participants with an advance notice of at least two weeks);
  • Preparations for the establishment of collateral through the posting in the transaction clearing liquidity guarantee system of EUR-denominated debt securities issued by European Union member states other than the Republic of Poland (the service will be launched at a later date to be communicated to the participants with an advance notice of at least two weeks);
  • Introduction of the possibility of establishing collateral through the posting in the transaction clearing liquidity guarantee system of cash in EUR as deposits/margins, contributions to the OTC guarantee fund;
  • Introduction of the possibility of making transfers at the request of clearing members;
  • Implementation of amendments in connection with the provisions of Regulation No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (“CRR”) harmonizing the regulations with the CRR to the extent of the requirement of fulfilment of the financial conditions defined in the Rules of Transaction Clearing (non-organised trading);
  • Modifications concerning the scope of activities within types of participation status
  • Amendments concerning the clearing of transactions to sell Treasury bonds;
  • Introduction of measures for keeping discipline and order and other amendments of the Table of Fees.

 

The text of the resolutions amending the Rules of Transaction Clearing (non-organised trading) and the Detailed Rules of the OTC Clearing System is available in the
http://www.kdpwccp.pl/pl/Regulacje/obrot-otc/Strony/Regulacje.aspx

Last modified: 24-08-2016 Go up