KDPW receives ESMA trade repository approval 08 November 2013Warsaw Reporter: Mark Dugdale
Image: Shutterstock
The European Securities and Markets Authority (ESMA) has acknowledged the central securities depository of Poland as one of only four European entities to fulfill all trade repository requirements under the European Market Infrastructure Regulation (EMIR).
KDPW opened in November 2012, making it the first trade repository to open in the Central and Eastern European region. It applied to ESMA for registration of KDPW_TR in May of this year.
ESMA’s registration of KDPW_TR allows it to operate across the EU. EMIR will require all future contracts to be reported to repositories from 12 February 2014.
The reporting obligation applies to legal entities entering into derivative contracts and may be delegated to another entity or to a central counterparty.
KDPW was given the prefix ‘2594’ earlier this year, allowing it to assign legal entity identifiers, which are needed to report derivative trades to a trade repository under EMIR.
Iwona Sroka, president and CEO of KDPW, said that its service will allow all entities to meet their derivative contract reporting obligations under EMIR.
“As KDPW Group, we strive to provide top quality services, always in line with the current regulations and highest international standards, to ensure that companies active on the local financial market can use the local market infrastructure. It is our contribution to the development of a strong capital hub in Warsaw.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 