Polish FSA authorises KDPW as ARM 03 August 2018Warsaw Reporter: Jenna Lomax
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The Polish Financial Supervision Authority has given The Central Securities Depository of Poland (KDPW) the go ahead to provide transaction reporting services as an approved reporting mechanism (ARM).
As an ARM, KDPW is authorised to provide transaction reporting services in the EU.
The ARM is a mechanism of reporting details of transactions in financial instruments on behalf of clients to supervisory authorities under the requirements of Markets in Financial Instruments Regulation (MiFIR).
According to KDPW, it can offer clients developing technologies and procedures in collecting and maintaining details of transactions in derivatives and reporting models tailored to clients’ needs, including data reported to the trade repository and transaction data.
It also offers an automated secure communication interface and a robust model of relations with supervisory authorities and members, as well as ensuring regular and uninterrupted compliance with the reporting obligation.
Micha? St?pniewski, vice president of the KDPW Management Board, commented: “The ARM authorisation comes as a part of KDPW’s strategic efforts to develop an integrated portfolio of services supporting the functioning and growth of the Polish financial market.”
S?awomir Panasiuk, vice-president of the KDPW management board, said: “KDPW offers flexible reporting models tailored to clients’ needs as necessary to report the complete range of required data via ARM. Simplified transaction reporting models allow participants to largely reduce the volume of transmitted data in compliance with MiFIR.”
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