Central Securities Depository of Poland (KDPW) and KDPW_CCP
The KDPW Group is responsible for clearing and for operation of the depository-settlement system for trading in financial instruments in Poland.
Central Securities Depository of Poland (KDPW)
The Central Securities Depository of Poland (KDPW) operates settlements of transactions concluded on the regulated market and in the alternative trading systems (ATS) and maintains a central securities depository. KDPW provides a range of services for investors including intermediation in dividend payments to shareholders, assimilation, exchange, conversion and split of shares, and exercise of subscription rights. Since 2012, KDPW provides a trade repository service (KDPW_TR) and is authorised to issue LEIs.
WSE holds 33.33% of shares in KDPW’s share capital, which gives the right to exercise 33.33% of votes at the general meeting. Currently, WSE, the State Treasury and the National Bank of Poland each own one-third of the shares of KDPW.
KDPW_CCP S.A.
KDPW_CCP, a subsidiary of KDPW, performs functions involving the clearing of transactions and the operation of a clearing liquidity system. The business of KDPW_CCP is to clear transactions concluded on the markets operated by WSE and BondSpot and to manage clearing risks of such transactions. As of December 2012, KDPW_CCP provides a new service: clearing and guaranteeing the clearing of OTC derivatives and repo transactions (OTC_CLEARING).
KDPW_CCP is equipped with own capital of PLN 218 million as a part of the clearing guarantee system.
Centrum Giełdowe S.A.
“Centrum Giełdowe” S.A. was established in 1995. The company administers, manages and runs the Exchange Centre located at ul. Książęca 4 in Warsaw and leases premises located therein. The company acts also as a substitute investor and manages real estate on commission from other entities.
WSE holds 24.79% of shares in the company’s share capital, which gives the right to exercise 24.79% of votes at the company’s general meeting. The other shareholders are Krajowy Depozyt Papierów Wartościowych S.A. (15.72% shares and voting rights) and Centrum Bankowo-Finansowe “Nowy Świat” S.A. (59.49% of shares and voting rights).