[ A D V E R T O R I A L ]
KDPW: One Group, one
post-trade solution
KDPW Group offers full package of post-trade services. With the European
authorisations and registrations KDPW is open to international clients. Our
strengths include a range of complementary services, state-of-the-art technologies,
as well as professional customer service which ensures customer satisfaction.
L
ooking at the financial market
and its infrastructure, it is
worth noticing how the KDPW
Group built Central Europe’s
leading clearing and settlement
infrastructure. Thanks to services
offered by KDPW (the Polish CSD)
and KDPW_CCP (the clearing
house), the quality and safety of
the Polish financial market and
its attractiveness to international
investors were strongly improved.
KDPW Group offers the services
of an authorised CCP, including
over-the-counter (OTC) clearing,
a registered Trade Repository, a
Global Numbering Agency (ISIN,
CFI, FISN) as well as LEI assign-
ment and is in the process of CSD
authorisation.
But the post-trade solutions are
not only offered to the domestic
financial market. Through the
European authorisations and
registrations, KDPW Group is open
to foreign clients. Raiffeisen Bank
International has opened an omni-
bus account direct in KDPW. ABN
66 // TheTrade // Winter 2018
AMRO Clearing Bank N.V., KDPW_
CCP’s first foreign participant, has
also started to clear transactions on
GPW’s cash and derivatives market
in June 2016. As a general clearing
member of the KDPW_CCP,
ABN AMRO opens access to the
Polish capital market for investors
using the bank’s global post-trade
services. KDPW Trade Repository
also has participants from UK,
Italy, Czech Republic, Bulgaria or
Romania.
Clearing Services
KDPW_CCP is authorised under
EMIR (PLN and EUR) and has ex-
perience in extending the scope of
its services. In view of its current
levels of trade clearing and taking
into account future volume growth
and the potential to offer its ser-
vices in the CEE Region, KDPW_
CCP holds the necessary level of
its own capital, which currently
stands at € 55 million. CCP’s own
capital is the last line of defence in
the face of member insolvency and
the higher the capital of the CCP,
the lower the risk exposure of the
remaining members.
The clearing house performs
a broad range of services in the
financial market. For the regu-
lated market, KDPW_CCP clears
equities, fixed income and other
cash market instruments, as well
as derivatives such as futures and
options based on indices, curren-
cies and interest rates. It also offers
clearing of securities lending and
borrowing, and derivatives from
interbank market (FRA, IRS, OIS,
Basis Swaps and Repos).
As of December 2012, KDPW_
CCP started to provide the clearing
and guarantee of OTC derivatives
and repo trades (OTC_CLEAR-
ING), processing interbank trades,
mainly aiming to reduce the risk of
default by trading counterparties
and, consequently, to generate