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Single Guarantee Fund for WSE ATS and Bondspot ATS 

  • BondSpot, WSE and KDPW_CCP have established a single guarantee fund securing the clearing of transactions concluded in the alternative trading system (ATS)
  • The combination of the funds will enable KDPW_CCP Participants to reduce debits in respect of contributions to two separate ATS guarantee funds and administrative costs related to on-going registration of payments
A single guarantee fund for the WSE ATS and the BondSpot ATS launches on 1 July 2014. The fund will be formed under an agreement signed on 5 March 2014. The agreement provides for the formation of a new guarantee fund securing the clearing of transactions concluded in the alternative trading system organised by Warsaw Stock Exchange and in the alternative trading system organised by BondSpot. The new fund will replace two functionally and legally separate guarantee funds securing the clearing of transactions concluded in the systems which will be liquidated.
As a result of the formation of the new fund, transactions concluded in the alternative trading systems organised by WSE and BondSpot will be secured by the same guarantee fund, which will not reduce the level or quality of the guarantee of their settlement.
The combination of the ATS guarantee funds will also ensure more effective management of clearing risk, in particular management of financial resources in the event of Clearing Member default. The combination of the ATS guarantee funds is a natural consequence of the discontinuation of functionally separate parts of the clearing fund in favour of a single clearing fund (single mass of assets) which guarantees clearing on the regulated market. Transactions concluded in the alternative trading systems organised by WSE and BondSpot will be secured by a single guarantee fund.
 
Last modified: 23-10-2014 Go up