KDPW signed in February Raiffeisen as its first non-Polish clearing member
Polish clearing house KDPW_CCP has
successfully cleared its first Zloty-denominated
over-the-counter derivatives trade between two banks, marking
an important step for the firm as Europe counts down to
mandatory clearing of swaps.
The clearing house owned by the Warsaw
Exchange said the first inter-bank over-the-counter (OTC) trade
denominated in PLN was cleared between Citi Handlowy and
"The main advantage of clearing OTC
derivatives in a central counterparty (CCP) clearing house is
the safety and guarantee of clearing supported by the
functionalities of the clearing house where the CCP takes over
the role of each counterparty through novation and relies on a
multi-tier clearing guarantee system and risk management
systems," said Iwona Sroka, CEO and President of KDPW_CCP and
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