14 October 2022

Clearing and Settlement of GlobalConnect Transactions

Clearing and Settlement of GlobalConnect Transactions - KDPW
The Warsaw Stock Exchange (GPW) plans to launch the GlobalConnect market on 4 November 2022. Securities traded on the market will be processed in the same way as other securities recorded in the KDPW depository system as the investor’s depository (secondary depository). GlobalConnect transactions will be cleared in KDPW_CCP and settled in KDPW according to the timetable applicable to the Polish market. Trade will be settled in PLN.


Securities records
Securities traded on GlobalConnect will be recorded in the depository after their introduction to trading in the GPW alternative system. In its decisions on the recording of securities, KDPW will provide reference to the foreign depository system in which inter-system transfers of the securities are processed. Inter-system transfers will be executed according to the general rules applied to securities recorded in KDPW as the investor’s depository.

Clearing
Transactions concluded on GlobalConnect will be cleared in KDPW_CCP under the same rules as other transactions concluded in the ATS operated by GPW.

Settlement
Transactions will be settled according to the same rules as other securities recorded in the depository system operated by KDPW.

Corporate actions
Corporate events and operations on securities will be processed by KDPW and notified to KDPW participants on the basis of information received by KDPW from the foreign depository in which the inter-system transfers are processed.


Established by the Warsaw Stock Exchange, GlobalConnect is a market for shares introduced to trading by Introducing Market Makers (WARs) without the consent of the issuer. This solution allows for trading on GPW in shares of foreign companies traded on global stock exchanges. GlobalConnect is organised in GPW’s Alternative Trading System (ATS).   ​