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Reduction of fees for the registration and processing of non-public securities

New regulations governing the registration of non-public securities, effective as of 1 July 2019, impose the obligation of registration of non-public securities in the Central Securities Depository of Poland (KDPW) via an issue agent. To address the new regulations, KDPW has developed an online application which supports registration within 24 hours.

KDPW will reduce fees for the registration of securities through an issue agent and fees for the processing of payments attached to or the redemption of debt securities through a payment agent from 1 July to 31 December 2019. The reduction is open to participants who accept electronic invoices from KDPW.
  • The minimum fee for the registration of bonds, covered bonds and investment certificates will be reduced by half to PLN 1,000.
  • The total fees charged for the registration of registered investment certificates of the same issue, which are not fully paid, and which are registered within the same calendar month under more than one application, will be capped at PLN 25,000.
  • The minimum fee for payments attached to or the redemption of bonds, bank securities and covered bonds will be reduced from PLN 500 to PLN 200.

With a view to the development of the capital market in Poland, KDPW pursues a fee policy aiming to reduce the burden of costs paid by market participants. The policy takes into account the infrastructure functions of the KDPW Group companies while ensuring the highest standards of security and quality of services offered to all groups of clients.

The KDPW Group has for years pursued a policy geared to expansion of the scale of business and diversification of revenue. As a result, the KDPW Group has steadily reduced fees charged to participants and offered temporary fee reductions to stimulate selected market segments.