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KDPWW_CCP gets green green light from Polish regulators

09 April 2014  |  1164 views  |  0 Source: KDPW_CCP

The Polish Financial Supervision Authority (KNF) has authorised the clearing house KDPW_CCP on 8 April 2014, confirming that it fulfils all requirements for such institutions under the EU Regulation EMIR.

According to EMIR, all clearing houses active in the European Union were required to file an authorisation application with the national supervision authority by 15 September 2013. 22 clearing houses in the EU have filed the necessary documents. As confirmation of a clearing house's compliance with the requirements, the national supervision authority authorises the clearing house on recommendation of an international College comprised among others of representatives of the central bank and selected members of supervisory authorities of other EU member states and the European supervisor ESMA.

It should be noted that the Polish clearing house is the third clearing house to be authorised in all EU! The first was Nasdaq OMX Clearing AB (18 March 2014) and the second was European Central Counterparty N.V. (1 April 2014).

"The positive opinion of the College and eventually the relevant decision of the Polish Financial Supervision Authority allow KDPW_CCP to operate as an authorised CCP across the European Union including the addition of the interbank OTC derivatives market to the authorised scope of the clearing house's services," said Iwona Sroka, CEO and President of KDPW_CCP.

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