Mandatory testing of the key aspects of the default procedures
On 8-9 December 2016 we will conduct, with the involvement of market participants, testing of the key aspects of the default procedures relating to obligations arising from transactions accepted for clearing in the clearing system for transactions concluded in organised trading and in the OTC clearing system (non-organised trading). The objective of the test is to verify the solutions and procedures available to KDPW_CCP in the event of a crisis and to verify whether all clearing members are properly prepared to perform procedures applicable in the event of default under the clearing of transactions. Under the Rules of Transaction Clearing (organised trading) and the Rules of Transaction Clearing (non-organised trading) every clearing member has the obligation to participate in testing organised by KDPW_CCP.
The detailed test timetable and the exhaustive test assumptions and scenarios will be distributed no later than two weeks before the date of the test.