KDPW Group 2021 Summary
The year 2021 was a difficult time due to the ongoing pandemic. However, if you look objectively at the developments on the capital market, it was an exceptionally good year. Encouraged by high market turnover, many new listings, rising capitalisation and growing key indices, new individual investors joined the market. According to data received by KDPW from banks and brokerage houses, the number of brokerage accounts reached 1,356 thousand at 30 November 2021, which is over 26 thousand more than at the end of 2020 and 110 thousand more than at the end of 2019.
It was also a good year for the KDPW Group. We achieved all our goals and hope to have raised the quality of the entire Polish capital market by introducing new solutions and services. The KDPW Group continues to change in line with constantly emerging and evolving needs and expectations of the market and in view of the need to adapt to the constantly changing environment, both legal and technological. The range of services offered by the KDPW Group expands year after year. This was also the case in 2021.
The obligation of general dematerialisation of shares of joint-stock companies and limited joint-stock partnerships which came into force in March 2021 completed the process of abolishing the certificated form of securities on the Polish capital market initiated with its establishment in 1991. A month before the introduction of the dematerialisation obligation, at the beginning of February, KDPW launched an application for automated issuance of ISIN codes (along with CFI and FISN codes) of securities, which facilitated the dematerialisation process.
To address the needs of management boards and supervisory boards for holding and managing meetings and voting remotely during the pandemic, KDPW offered the eVoting-board service since April. It builds on previous experience in handling general meetings with the option of remote voting.
The first phase of the KDPW Group Data Portal, available at data.kdpw.pl, was launched on 3 February 2021. The goal is to replace the existing system which presents statistical data with a product of higher quality and new functionalities.
The Shareholder Identification application, introduced in 2020, was enhanced in May 2021 with new functionalities related to the identification of shareholders of non-public companies. In May 2021, a new application was launched for the ARM service, and significant changes were made to the settlement system in the spring implementation window in connection with the introduction of the provisions of the CSDR.
KDPW_CCP introduced separate monitoring of clearing members’ transaction limits in the Alternative Trading System (ATS). The clearing house expanded the service of KDPW_CCP derivatives reporting to the KDPW Trade Repository in accordance with ESMA requirements.
With our clients and the development of the capital market in mind, as a key infrastructure institution, we aspire to support market development by following an appropriate fee policy. In Q4 2021, KDPW introduced 13 temporary reductions of fees for the settlement of transactions, recording of securities and processing of corporate events. From April to October, KDPW reduced fees for disclosure of shareholder identity to companies.
The implementation of all projects in 2021 would not have been possible without the support of our clients and broad co-operation with all stakeholders in the domestic capital market, for which we extend our thanks.
A new year is ahead, bringing new challenges. We wish everyone that the new year is as successful for the capital market as the past one.