The following amendments enter into force on 30 September 2017:
- to the Rules of Transactions Clearing (organised trading) - following the decision of the Polish Financial Supervision Authority (KNF) of 30 June 2017 approving the amendments adopted under Resolution No. 34/233/16 of the KDPW_CCP S.A. Supervisory Board on 13 December 2016,
- to the Detailed Rules of Transaction Clearing (organised trading) - under Resolution No. 28/17 of the KDPW_CCP S.A. Management Board dated 15 September 2017 and Resolution No. 29/17 of the KDPW_CCP S.A. Management Board dated 15 September 2017.
The amendments to the above regulations allow KDPW_CCP S.A. to offer:
- the RMA (Risk Management Access) service for clearing members on the terms defined in the KDPW_CCP S.A. regulations in connection with the relevant agreement with the Warsaw Stock Exchange. The RMA service allows clearing members to define limits on orders submitted by entities represented by the clearing members in clearing on the regulated market or in the alternative trading system in order to monitor the activity of such entities on the market or in the system and provides the clearing members with the functionality of direct execution of orders to block transactions concluded by entities represented by the clearing members in clearing. The functionality is available via the RMA application in the trading system of the Warsaw Stock Exchange. The RMA service is available for a fee as per amendments to the Table of Fees;
- a service for entities which perform the functions of payment agent for clearing members, where their prior consent may be limited. The toolkit allows banks – payment agents to set, cancel and modify payment limits and to check the amount and degree of utilisation of set limits (the latter functionality is also available to clearing members). The service allows banks – payment agents to better manage the amount of payments arising from the participation of a clearing member in the system.
Furthermore, the resolution modifies the terms of calculation of fees under point 4b.1 of the Table of Fees for late submission of financial information by clearing members to KDPW_CCP, as referred to in § 28 subpara. 1 points 1-3 and § 29 of the Rules of Transaction Clearing (organised trading). Starting on 30 September 2017, the fee will not be charged until the third day after the due date of submission of financial information by clearing members to KDPW_CCP.
The text of the resolutions amending the Rules of Transaction Clearing (organised trading) and the Detailed Rules of Transaction Clearing (organised trading) is available in the tab Rules