The TRADE 58 | Page 66

[ 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