Polish CCP Granted Regulatory Approval

The Polish Financial Supervision Authority (KNF) has authorized the clearing house KDPW_CCP.

According to EMIR, all clearinghouses active in the European Union were required to file an authorization application with the national supervision authority by September 15 2013. 22 clearing houses in the EU have filed the necessary documents. As confirmation of a clearing house’s compliance with the requirements, the national supervision authority authorizes the clearing house on recommendation of an international College comprised among others of representatives of the central bank and selected members of supervisory authorities of other EU member states and the European supervisor ESMA.

KDPW_CCP clearinghouse is the third clearinghouse to be authorized in the EU. Over the last month Nasdaq OMX Clearing and EuroCCP were also granted authorization by the Swedish Financial Supervisory Authority and De Nederlandsche Bank (DNB), respectively.

“The positive opinion of the College and eventually the relevant decision of the Polish Financial Supervision Authority allow KDPW_CCP to operate as an authorized CCP across the European Union including the addition of the interbank OTC derivatives market to the authorized scope of the clearing house’s services,” says Iwona Sroka, CEO and president of KDPW_CCP.