Warsaw
10 January 2017
Reporter: Stephanie Palmer
KDPW gains LEI issuer accreditation
KDPW, the Polish central securities depository, has been granted accreditation to issue legal entity identifier (LEI) codes by the Global Legal Entity Identifier Foundation (GLEIF).

Although it has been issuing LEI codes since 2013, KDPW was issued its certificate of accreditation from the GLEIF, the body responsible for ensuring the operational integrity of the global LEI system, on 21 December 2016.

The accreditation marks a commitment to data quality and accuracy, and identifies it as an authoritative source that meets the requirements laid out in the ‘master agreement’ between GLEIF and LEI issuing organisations.

Obtaining and using an LEI code is mandatory for all entities engaged in commercial activity involving derivatives transactions that must be reported to transactions depositories.

The obligation will soon be extended to a wider group of entities, including those transacting on the spot market.

President of KDPW Iwona Sroka said: “For KDPW, obtaining the accreditation of GLEIF means above all being able to continue assigning the codes, which ability forms part of our integrated portfolio of services supporting the functioning and development of the Polish financial market, as provided in our corporate strategy.”

She added: “At the same time, we observe a growing demand for the LEI codes assigning service. An important element that drives this demand is EU regulations, which obligate entities operating in the financial market to obtain this code.”

Stephan Wolf, CEO of GLEIF, said: “Becoming a member of the Global LEI System via GLEIF accreditation is a globally recognised designation of commitment to data quality and customer service. GLEIF looks forward to continuing the excellent cooperation with KDPW in its role as an accredited LEI issuer.”

KDPW currently manages more than 7,000 identification codes for entities in Poland and 21 other countries.

More regulation news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Clearstream sets sights on CSDR licence
17 July 2017 | Frankfurt | Reporter: Drew Nicol
Deutsche Börse subsidiary Clearstream is set to apply for new licenses to operate under the central securities depositories regulation
Fend off reform fatigue, urges FSB
06 July 2017 | Hamburg | Reporter: Mark Dugdale
The Financial Stability Board has called on the leaders of G20 nations to fend off reform fatigue and continue to work together
ESAs set the KID straight
05 July 2017 | London | Reporter: Stephanie Palmer
The European Supervisory Authorities have clarified some of the finer points around the Key Information Document required under the Packaged Retail and Insurance-based Investment Products Regulation
FCA reveals final MiFID II rules
04 July 2017 | London | Reporter: Stephanie Palmer
The authority has set out the ways in which the UK's policy will go beyond the requirements of the directive, but noted that it has an obligation to consider the government’s economic policies
MiFID II a threat to market liquidity
29 June 2017 | Warsaw | Reporter: Stephanie Palmer
New rules under MiFID II could restrict liquidity in the market and have a negative effect on securities lending and repo industry, according to Anna Biala, a partner at Clifford Chance
MiFID II unbundling compliance will be last-minute scramble for 85 percent
23 June 2017 | London | Reporter: Stephanie Palmer
Asset managers are cutting it fine in compliance with research unbundling rules under MiFID II, with 85 percent saying they expect to be compliant in Q4 2017 or later, ahead of the January 2018 deadline
ICMA: NSFR will make EU repo less attractive
23 June 2017 | London | Reporter: Drew Nicol
The association also point to increased automation of highly manual and labour-intensive processes of the market as a way to mitigate rising costs and create efficiencies
More regulation news