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The Polish FSA Determines KDPW Authorisation Application Is Complete

The Polish Financial Supervision Authority, KNF, has determined that the application of Krajowy Depozyt Papierów Wartościowych (KDPW) for authorisation under CSDR*, which defines among others Union-wide requirements for central securities depositories, is complete.

The authorisation will confirm that KDPW is ready to provide services under Union standards across the EU, including the recording and safe-keeping of financial instruments and the settlement of transactions.

“To comply with the CSDR requirements, KDPW has developed and implemented a range of systemic modifications to its key operating areas, including KDPW’s IT systems, in particular the reporting and data maintenance systems, cross-border (FoP) links, fees, controlling, and corporate affairs,” said Maciej Trybuchowski, President of the Management Board of KDPW.

KNF will decide whether to authorise KDPW within six months after the determination that the application is complete.

The PFSA decision is relevant to entities operating on the Polish capital market, including banks, brokers and trading venues for which KDPW is a key service provider in the safe-keeping and settlement of securities.

The KDPW Group has positive experience with the authorisation of the clearing house KDPW_CCP under EMIR (PLN and EUR clearing), the registration of the Trade Repository with ESMA (European Securities and Markets Authority), and the global LEI issuance accreditation with GLEIF (Global Legal Entity Identifier Foundation).

* Regulation of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories (CSDR)

 

Last modified: 20-09-2019 Go up