KDPW receives CSDR authorisation 06 March 2020Warsaw Reporter: Maddie Saghir
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The Polish Financial Supervision Authority (PFSA) has authorised KDPW, the Polish central security depository (CSD), under the Central Securities Depositories Regulation (CSDR).
Under the single passport system, the authorisation confirms that KDPW meets the EU’s legal requirements for central securities depositories.
It will allow KDPW to provide services under EU standards across the EU, including recording and safe-keeping of financial instruments as well as settlement of transactions.
Maciej Trybuchowski, CEO of KDPW, commented: “PFSA’s decision is essential for entities active on the Polish capital market, including banks, brokers and trading venues for whom KDPW is a key service provider in securities registration and settlement.”
“To meet the CSDR requirements, KDPW has developed and implemented a range of system modifications in its key areas including IT systems, operating links with other CSDs, and corporate affairs,” Trybuchowski added.
CSDR aims to provide common European requirements for CSD services and to improve securities settlement, including harmonisation of settlement rules on the European markets.
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