KDPW and KDPW_CCP President Maciej Trybuchowski Named 2021 Manager of the Year
President of the central securities depository KDPW and the clearing house KDPW_CCP has been named 2021 Manager of the Year by the monthly Home&Market. The KDPW Group chief executive has been awarded for regular implementation of services and solutions which deploy new technology.
Independent Third-Party Assessment of KDPW and KDPW_CCP Internal Audit Function
KPMG Advisory spółka z ograniczoną odpowiedzialnością sp.k. (KPMG) completed a project in Q1 2021 to deliver an independent third-party assessment of the internal audit function provided by the Internal Audit Department at KDPW and KDPW_CCP. In the opinion of KPMG’s auditors, internal audit in the KDPW Group companies complies with the highest international standards fulfilled only by a small proportion of audited institutions.
KDPW Reduces Fees Charged from Issuers
KDPW has reduced fees for disclosure of shareholder identification to companies holding general meetings. The fee for the service has been reduced by PLN 1,000 from PLN 2,500 to PLN 1,500. Issuers whose shares are recorded in KDPW will save approximately PLN 800 thousand.
KDPW Named a Technology Leader. eVoting-board Application Wins Acknowledgement in a Ranking
Gazeta Finansowa has published a list of the most interesting recent technological implementations picked by the financial weekly which contribute to business activity.
eVoting-board: KDPW’s Newest Application
Krajowy Depozyt Papierów Wartościowych (KDPW) launches a new service as of 1 April 2021 to address the requirements for corporate boards relating to remote voting by companies’ statutory bodies: eVoting-board.
Mandatory Dematerialisation of Shares as of 1 March 2021.
The mandatory dematerialisation of all shares of joint-stock companies and limited joint-stock companies under the amendment of the Commercial Companies Code of 30 August 2019 has come into force on 1 March 2021. As of that date, all shares are represented by electronic records in shareholder registers or securities depositories. The dematerialisation of shares completes the elimination of certificated securities on the Polish capital market initiated with its inception in 1991.
KDPW Data Portal Has Launched
The KDPW Data Portal available at https://data.kdpw.pl has launched on 3 February 2021. The Data Portal will in future present clearing and settlement system statistics, data sourced from the EMIR and SFTR trade repositories operated by KDPW, as well as other data previously presented in different sections of the KDPW and KDPW_CCP websites.
International Success of KDPW IT Developers
Buy-in reporting messages developed by KDPW have been successfully approved by ISO20022. As the first messages ever to be registered, they set the buy-in reporting standard, developed from scratch on the initiative of KDPW in ISO20022. The standard defined by KDPW and approved by ISO20022 will apply internationally.
Automated ISIN Issuance Application Facilitates Mandatory Dematerialisation of Shares
On 1 February, KDPW will launch an application for automated issuance of ISIN codes (together with CFI and FISN codes), enabling operators of shareholder registers to obtain codes immediately in order to record financial instruments under such identifiers in their registers. The application will be available on the KDPW Group Service Portal.
Number of Trades Reported to EMIR Trade Repository Triples
The EMIR Trade Repository (EMIR TR) operated by KDPW has reported a significant increase in the number of received trade reports driven both by the acquisition of new international clients and an increase of derivatives turnover in many European countries including Poland.
Year 2020 in KDPW Group: The Milestones
The past year transformed our perspective on the world facing the impact of the global COVID-19 pandemic. Our economies and societies were suddenly confronted by a new reality, which also impacted the KDPW Group.
New Solutions Facilitate Communication between Companies and Shareholders
On 3 September 2020, Krajowy Depozyt Papierów Wartościowych (KDPW, the Central Securities Depository of Poland) has rolled out new solutions facilitating communication between public companies and their shareholders in harmonisation with the requirements of the SRD II Implementing Regulation.
KDPW Launches the SFTR Trade Repository Service
KDPW has launched the trade repository service for securities financing transactions (SFTR trade repository). The new reporting obligations are imposed by the European Union’s Securities Financing Transactions Regulation (SFTR). The SFTR requires the reporting of SFT (securities financing transaction) details to authorised trade repositories as an obligation of all market participants, including financial and non-financial entities.
Insurance against Financial Consequences of Operational Risk
Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) has renewed an insurance contract with Colonnade Insurance S.A. with a sum insured of PLN 100 million. The contract valid until 30 June 2021 insures KDPW S.A. and KDPW_CCP S.A. against operational risk of the activity of both companies.
KDPW Reduces LEI Issuance and Renewal Fees
The fees for the issuance and renewal of LEIs charged by KDPW will be reduced as of 1 July 2020. The fee reductions are up to 26%. KDPW is the only institution in Poland authorised to issue LEIs in the Global LEI System.