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Krajowy Depozyt Papierów Wartościowych (KDPW) is the central institution responsible for the management and supervision of the depository-settlement system in relation to trading in financial instruments in Poland. Trading takes place according to the highest international standards, including total securities dematerialisation.

The Polish central securities depository was created in 1991 as a department of the Warsaw Stock Exchange.

On 7 November 1994, this department was removed from the organisational structure of the Warsaw Stock Exchange and since then, KDPW has been functioning as a separate and independent joint stock company, with the State Treasury, as represented by the Minister of the State Treasury, the Warsaw Stock Exchange and the National Bank of Poland each holding 1/3 of shares.



21 October
The KDPW_TR Trade Repository receives the Business Premium 2014 award from Bloomberg Businessweek Polska

6 October
Change of the settlement cycle from T+3 to T+2 for shares, rights to shares, depository receipts, ETF shares, investment certificates

1 October
Launch of the negotiated securities lending and borrowing system

4 August
Launch of the functionality of automatic partial settlement

12 June
KDPW receives the SAP Polska award for innovation in business and technology in the development of the comprehensive analytical and reporting platform based on SAP HANA

4 June
KDPW Group image campaign “We have been shaping the Polish financial market for 20 years” which refers to the anniversary of the firs free elections in post-war Poland

12 February
The start date of reporting of details of derivatives contracts to trade repositories under the EU Regulation EMIR

23 January
Effective date of the amended Trade Repository Rules which include new categories of trade repository participants and a new, more attractive table of fees


27 December
By decision of the Regulatory Oversight Committee (ROC), the regulatory body of the global LEI system, KDPW is granted the status of pre-LOU

18 November
The Second Capital Market Congress, an annual gathering of financial professionals with the academics, is organised by the KDPW Group in partnership with the Department of Management of the University of Warsaw

18 november
The electronic channel of communication with participants in the area of corporate actions under ISO20022 is launched for the first group of corporate actions including assimilation, conversion, split, change of nominal amount

7 November
The KDPW Trade Repository (KDPW_TR) is registered by ESMA as one of the first trade repositories in Europe

19 August
KDPW receives a prefix (2594) necessary to issue Legal Entity Identifiers (LEI). The prefix is granted by the Regulatory Oversight Committee Secretariat and identifies LEIs issued by KDPW in the global LEI system

KDPW CEO & President Iwona Sroka is named one of the best Polish managers in the TOP 20 Managers at the Time of Crisis ranking published by the weekly Wprost

13 June
Appointment of the new KDPW Court of Arbitration. Professor Marek Michalski is appointed President of the Court

16 May
KDPW and the Russian Central Securities Depository (NDS) sign a co-operation agreement

19 March
Iwona Sroka became Head of Board of Directors of Junior Achievement Poland (Fundacja Młodzieżowej Przedsiębiorczości)

February 2013
Iwona Sroka among Poland’s Most Influential Women in the Home & Market magazine ranking


2 November
Launch of KDPW’s Trade Repository

29 October
President & CEO Iwona Sroka among Poland’s Top Women Managers 2012 according to WPROST weekly magazine

CEO Iwona Sroka among Poland’s Top Women Managers

5 October
KDPW signs a Memorandum of Understanding with the Central Securities Depository of the Azerbaijan Republic

KDPW named a top Polish innovator according to Wprost

2 July
Implementation of the Hold-Release facilitating the settlement matching process

19 June
KDPW Management Board appointed for a new term

New operational link with Latvia

New operational link with Romania

KDPW wins Wektor 2011


KDPW is a Partner of the Economic Seminar, Dublin

30 November
KDPW is a Sponsor of the international conference CEE Financial HUB

KDPW is a Partner of the National Survey of Individual Investors

21 October
Migration of euro settlements to TARGET2

The monthly Polish Market puts CEO Iwona Sroka in the Tiaras of Management ranking of the 50 Most Distinguished Polish Women Managers

16 October
KDPW co-organises the First National Test of Investment Knowledge.

KDPW is a partner of the social campaign Making the Internet Safe

Deputy President Sławomir Panasiuk awarded for the implementation of kdpw_flow in the first edition of the Chief innovation Officer – IT Innovator of the Year competition.

KDPW is one of Poland’s top 500 innovative companies according to a ranking published by the Institute of Economic Science of the Polish Academy of Sciences and the Scientific Network MSN

KDPW is a Main Partner of the third edition of the NewConnect Convention/Catalyst Bond Congress

1 July
The Clearing House KDPW_CCP is spun off from KDPW

Number of investment accounts operated by KDPW Members crosses the mark of 1.5 million

Operational link established with the Slovenian market

25-26 May
KDPW is a Partner of the international conference CEE IPO Summit

16-18 May
KDPW participates in the Third European Economic Congress in Katowice

14 May
KDPW and WSE participate in the Night of the Museums

KDPW hosts a meeting of the EACH Risk Committee

27 April
KDPW co-organises the international conference Baltic Business Forum 2011 in Świnoujście

16 April
Open Doors Day at KDPW and WSE

7 April
KDPW is a Partner of the international conference “Warsaw as the CEE Financial Hub” organised by SWIFT Business Forum

KDPW joins the educational project “Civic Shareholding”

KDPW CEO Iwona Sroka named one of the most important figures in Polish finance according to the “WHO is WHO of Polish Finance” published by Home&Market magazine.

KDPW is awarded at the Entrepreneurship Gala for its support for initiatives which promote economic education of young people


11 December
The Exchange  Clearing House (GIR KDPW) began to clear transactions from the Warsaw Stock Exchange Energy Market (poee)

19 November
New operational link with the Lithuanian market

18 November
KDPW President & CEO Iwona Sroka receives an honorable mention in a poll on the "Pearls of Polish Business 2010" on the most enterprising women in Poland, conducted by the Gazeta Finansowa business newspaper

9 November
KDPW celebrates its 16th anniversary

Increase of 100 thousand new investment accounts following the WSE IPO

20 October
KDPW, the WSE and WSEInfoEngine purchase an equity stake in the Warsaw Stock Exchange Energy Market (poee)

13 June
KDPW has been recognised with an award from the COMMON Europe association for its implementation of the new kdpw_stream depository-settlement system.

31 May
Entry into force of amendments to the KDPW Rules concerning a system of guarantees of the settlement of transactions concluded on the regulated market and a guarantee agreement between KDPW and KDPW_CLEARPOOL

27 April
Founding deed of the company  KDPW_CLEARPOOL SA is signed

The number of securities accounts increases by 140 thousand in anticipation of PZU’s IPO

11 March
The kdpw_stream system is awarded in the Gazeta Bankowa ranking "IT Leader 2009 in Financial Institutions"

4 March
National Users Group starts work on joining the Target2Securities platform

18 February
Sławomir Panasiuk, Deputy President of KDPW, named CIO of the Year 2009

15 February
Operational link between KDPW and the Bulgarian market


8 December
KDPW Supervisory Board adopts the new growth strategy 2010-2013

6 December
Open Day of the WSE and KDPW

27 October
The New Depository-Settlement System is named kdpw_stream

3 August
Implementation of the new depository-settlement system

30 July
New KDPW Management Board – Dr Iwona Sroka -  President & CEO, Sławomir Panasiuk - Vice-President, Michał Stępniewski - Member

20 July
Implementation of new internet application to process shareholder general meetings

1 June
KDPW service launched on the MOSS 2007 platform

27 March
KDPW hosts the second edition of Link Up Markets workshops.

25 March
KDPW is a donor of the Professorship of Polish Studies at Columbia University

2 March
New rules of registration of financial instruments by KDPW Participants and supervision of registration exercised by KDPW


31 October
Presentation of a survey of KDPW S.A.’s image among the Participants

20-21 October
7th conference Innovations in the Financial Markets 2008

1 October
Radosław Ignatowicz appointed Member of the Management Board of the National Depository for Securities

26 September
KDPW is named a 2008 IT Leader

30 June
The National Depository for Securities hosts the first Polish edition of Link Up Markets workshop series

16 June
Agata Rowińska appointed Member of the Management Board of the National Depository for Securities

7 May
Ewa Pawlak and Piotr Koziński elected to the Supervisory Board of the National Depository for Securities

7 April
The National Depository for Securities hosts an EACH meeting

18 April
The National Depository for Securities joins CCP12 as a member

17 March
Adoption of market practices for the application of ISO 15022

26 February
The National Depository for Securities is a partner of the second Europe-Ukraine Forum


Clearing fees waived for members of the Alternative Trading System. The policy will apply from the approval of the ATS Rules by the Polish Financial Supervision Authority until the end of 2007.


7 November
Elżbieta Pustoła, KDPW President and CEO, signs the European Code of Conduct.

19-20 January
KDPW hosts the ECSDA General Meeting and Board of Directors


28-29 November
KDPW hosts the ECSDA Working Group 3 meeting

16 June
The KDPW Supervisory Board adopted the KDPW strategy for 2005-2010

29 April
Euroclear Bank (Belgium) opens a depository account for KDPW

Initial work completed on the implementation of the operational risk management system

17-18 March
Derivatives Conference, jointly organised by KDPW


7 November
KDPW's 10 anniversary. To mark the occasion, KDPW organises a conference entitled "Conditions of access by foreign issuers and international investors to the Polish capital market". During a gala ceremony, 10th Anniversary Galleon Awards were presented to individuals and institutions who were instrumental in the development of the Polish capital market: Wiesław Rozłucki - Chairman of the KDPW Supervisory Board; Lesław Paga (posthumous award); Jacek Socha - Minister for the State Treasury; Małgorzata Ostrowska - Member of the Polish Parliament; Wiesław Kaczmarek - Member of the Polish Parliament; Euroclear France (formerly Sicovam); and the Polish Securities and Exchange Commission.

24 September
KDPW hosts the EACH meeting - The European Association of Central Counterparty Clearing Houses

15-16 June
V edition of the annual KDPW Innovations in the Financial Markets conference; Galleons awarded to Amerbrokers and CAIB Financial Advisors Sp. z o.o.

28 May
KDPW processes the BACA share dividend payment, the first such dividend nominated in Euros

2 January
Changes to the algorithm used to calculate contributions to the Settlement Guarantee Fund and introduction of the ability to make contributions to the Fund in the form of Treasury securities


10 October
Bank Austria Creditanstalt AG - BACA - shares admitted to safe custody in KDPW as the first foreign company dual listed simultaneously in Warsaw and Vienna. This also involved the opening of the first depository account for KDPW in a foreign CSD - Oesterreichische Kontrollsbank (OeKB)

30 September - 1 October
IV edition of the annual KDPW Innovations in the Financial Markets conference; Galleons awarded to IDM Kredyt Bank Brokers and the Custody Department of Pekao S.A. Bank

22-23 May
ANNA (Association of National Numbering Agencies) General Meeting takes place in Warsaw, hosted by KDPW

24 February
KDPW receives the title of Friend and Patron of the National Library


1 October
KDPW begins the settlement of transactions and provision of credit risk management services on the stock exchange power market

17 - 18 September
III edition of the annual KDPW Innovations in the Financial Markets conference; Galleons awarded to DM Polonia Net Brokers and the Central Table of Offers

1 August
Launch of the RTGS (Real Time Gross Settlement) system and settlement using tolerance limits

3 June
All settlement of the cash leg of corporate action operations transferred to the Payment System Department of the National Bank of Poland

26 April
Start of settlement of transactions executed by Treasury Securities Dealers on the electronic platform managed by CeTO

2 April
KDPW adds to the range of securities loans by offering securities lending without collateral and securities lending where KDPW does not act as intermediary

4 February
The introduction of settlement of repo and sell/buy back transactions


3 December
Seventh settlement session launched

23 November
The first foreign-issued securities are deposited in KDPW - European Investment Bank bonds

3 September
Fifth settlement session launched

9 July
Third settlement session launched

21-22 June
2nd edition of the annual international KDPW conference "Innovations in the Capital Markets"; Galleons awarded to CDM PKO Brokers and the Custodian Bank Council at the Polish Banking Association

12 March
The KDPW Supervisory Board adopts new regulations for the Investor Compensation Scheme

1 March
Introduction of the transaction confirmation and settlement system - the "Comparison" system


KDPW moves its central office to the Centrum Giełdowe (Stock Exchange Centre), ul. Książęca 4

1-2 June
KDPW is host of the CEECSDA Annual General Meeting in Warsaw

31 May
KDPW organises the first international "Innovations in the Capital Markets" conference

17 March
KDPW Galleon Awards for settlement efficiency and for innovative co-operation with KDPW (presented to Bank Śląski Brokers and CDM PeKaO Brokers)


7 November
KDPW 5-th anniversary celebrations held at the Royal Castle in Warsaw

31 August
The first transfer payments between open-ended pension funds processed

26 July
Cash settlement transferred to the Payment System Department of the National Bank of Poland

KDPW begins the management of the Pension Guarantee Fund and the processing of transfer payments for the state social security system

Launch of the securities lending and borrowing system

Changes to the KDPW ownership structure - National Bank of Poland becomes a shareholder


9 October
Foundation of CEECSDA - (Central and Eastern European Central Securities Depositories and Clearing Houses Association), with KDPW one of the founding members

15 September
KDPW becomes affiliate member of IOSCO - the International Organisation of Securities Commissions

Introduction of multilateral netting of participants’ debits and credits for transactions executed on the stock market and over-the-counter market

Introduction of a new principle for transfer of title in securities - transfer takes place with their registration on a securities account

16 January
Commencement of settlement of transactions executed on the Warsaw Stock Exchange derivatives market, and the management of assets forming part of the derivatives settlement guarantee fund; Derivatives Clearing House founded in KDPW


21 August
Adoption of new Law on Public Trading in Securities with a broad range of rules regulating KDPW

Launch of the ESDI system - the Electronic System for the Distribution of Information

12 May
Start of the exchange of Mass Privatisation Certificates for shares in the 15 National Investment Funds

KDPW admitted to the international system for the electronic exchange of information on ISIN codes (GIAM - Global ISIN ACCESS Mechanism)


6 December
The start of settlement of transactions executed on the off-exchange market - CeTO, the Central Table of Offers

1 July
Start of the process of assigning ISIN codes to all securities deposited in KDPW

3 June
Start of the dematerialisation of Mass Privatisation Certificates


7 December
KDPW is admitted to ISSA - the International Society of Securities Administrators

16 November
KDPW becomes a member of ANNA - the Association of National Numbering Agencies


KDPW registered as a joint stock company

KDPW receives the so-called "non-action letter" from the US Securities and Exchange Commission (SEC), confirming that KDPW meets the requirements for the safe custody of US investment fund assets

Last modified:24-10-2014 Go up