KDPW_CCP cleared the first OIS POLSTR transactions

On 17 June 2026, KDPW_CCP cleared the first OIS transactions referencing POLSTR. This represents an important milestone in Poland’s benchmark reform and a significant step in the development of the PLN interest rate derivatives market based on the new overnight reference rate. The launch of central clearing for OIS POLSTR supports the safe and orderly development of the PLN interest rate derivatives market and represents a practical element of implementing the benchmark reform in Poland. Clearing these transactions through a CCP means that they are processed under uniform rules covering, among other things, transaction eligibility, valuation, margin calculation, clearing and default risk management.

POLSTR has been selected as the target interest rate benchmark under Poland’s national benchmark reform. It is an overnight reference rate based on data from the wholesale money market and is expected to play an important role in the new benchmark environment in Poland.

We would like to thank all market participants involved in this process and wish them every success with their OIS POLSTR transactions.