KDPW Group, including CSD and CCP clearing house, is the most important infrastructure institution on the Polish capital market.
The Group offers a competitive, integrated and complementary package of depository, clearing, settlement and added-value services. Thanks to synergies between KDPW and KDPW_CCP, the KDPW Group provides its Clients with the highest international standard services.
KDPW – The Central Securities Depository of Poland - is responsible for the settlement of transactions concluded on the regulated market and in ATS (alternative trading systems) and for the operation of the central securities depository. In addition, KDPW provides many services to issuers including dividend payments to shareholders, assimilation, exchange, conversion and split of shares, and execution of subscriptionn rights.
KDPW offer also trade reposotury servces regarding to EMIR requirements. KDPW_TR registered by ESMA as one of the first four such institutions in the EU. The registration by ESMA allows it to operate across the European Union. KDPWTR covers the reporting of all types of contracts subject to the reporting obligations (including exchange-traded and OTC derivatives).
In August 2013, KDPW received a prefix (2594) necessary to assign legal entity identifiers (LEI). On 27 December 2013, the Regulatory Oversight Committee (ROC) notified KDPW that it was granted pre-LOU status.
An important function of KDPW on the capital market is to establish operational links which enable the settlement of transactions in foreign stocks dual-listed on the WSE. KDPW currently operates 19 operational links with foreign depository institutions.
KDPW_CCP is a clearing house responsible for the clearing of transactions on the regulated market and in the alternative trading system and the operation of a clearing guarantee system. KDPW_CCP started its operations on 1 July 2011.
The company KDPW_CCP is 100 percent owned by KDPW.
KDPW_CCP is a modern clearing house and clears transactions using a range of mechanisms which ensure systemic reduction of the risk of counterparty default.
On 28 June 2013, the clearing house KDPW_CCP filed an application with the Polish Financial Supervision Authority for authorisation under the European Market Infrastructure Regulation (EMIR) which lays down among others uniform requirements applicable to clearing houses in the European Union. On 4 November 2013, KDPW_CCP was notified by the Polish Financial Supervision Authority that its application for authorisation under the requirements of EMIR was declared on that day to be complete. KDPW_CCP should be notified of the supervisor’s authorisation decision by 4 May 2014.
The major changes preparing our clearing house and its legal environment for authorisation included efforts necessary to introduce novation into the Polish legal system, increase own capital of KDPW_CCP adequately to the size of the served markets (up to PLN 218 M, ca. EUR 52 M), modify the clearing guarantee system waterfall, and appoint the Risk Committee.