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Launch of the EUR OTC trade clearing service

KDPW_CCP starts clearing of EUR OTC trade as of 3 April 2018.
Consequently, the amendments of the Detailed Rules of the OTC Clearing System applicable to EUR OTC trade enter into force on 3 April 2018, including provisions governing trades denominated and cleared in EUR concerning the application of the EURIBOR and EONIA rates, as well as provisions governing the calculation of margins and valuation of such trades under
Resolution No. 21/16 of the KDPW_CCP S.A. Management Board of 17 August 2016 and Resolution No. 10/18 of the KDPW_CCP S.A. Management Board of 19 March 2018.
KDPW_CCP’s new service offers the clearing of EUR OTC trade in interest rate derivatives whose underlying is EURIBOR or EONIA.

Pursuant to a decision of the KDPW_CCP S.A. Supervisory Board (Resolution No. 6/308/18), KDPW_CCP charges no fees for the clearing of such trade until 30 June 2018.

In order to start clearing EUR OTC trade, please provide KDPW_CCP with the following:
  • declaration indicating the Participant’s TARGET2 bank account number to be used in EUR clearing;

  • declaration indicating the Payment Agent’s TARGET2 bank account number and declaration of the Payment Agent accepting that function.

If you are interested in participating in the test of the new service, please provide KDPW_CCP with the documents listed above for the test environments.

Last modified: 03-04-2018 Go up