The National Securities Depository (, KDPW) is a Polish
financial market infrastructure
Financial market infrastructure refers to systems and entities involved in Clearing (finance), clearing, Settlement (finance), settlement, and the recording of payments, Security (finance), securities, Derivative (finance), derivatives, and other ...
that operates a
central counterparty clearing house
A central clearing counterparty (CCP), also referred to as a central counterparty, is a financial market infrastructure organization that takes on counterparty credit risk between parties to a transaction and provides clearing (finance), clearing a ...
branded KDPW_CCP, a
central securities depository
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities such as shares or bonds, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily tra ...
, and a
trade repository.
Overview
KDPW had originally operated as a department of the Polish Stock Exchange from 1991, then became a
joint-stock company
A joint-stock company (JSC) is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareho ...
in November 1994. Since then, it has been owned by three shareholders, each of which holds one-third of KDPW's equity capital: the
Polish Ministry of Treasury, the
Warsaw Stock Exchange
The Warsaw Stock Exchange (WSE) () is a stock exchange in Warsaw, Poland. Founded in 1817, it was located in the Saxon Palace until 1877 when it was moved to the Exchange Building at the Saxon Garden. Currently, it is located at ul. Książęca ...
, and the
National Bank of Poland
The Narodowy Bank Polski (; the National Bank of Poland), often abbreviated to NBP, is the central bank of Poland, founded in 1945. It controls the issuing of Poland's currency, the Polish złoty. The bank is headquartered in Warsaw, and has bra ...
.
KDPW holds
securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
in uncertificated (
dematerialized) form. It participates in the Association of
National Numbering Agencies and in the
European Central Securities Depositories Association
European Central Securities Depositories Association (ECSDA) is the official trade association for the Central Securities Depository industry in Europe. The association provides a forum for Central Securities Depositories (CSDs) to exchange views ...
.
See also
*
TARGET2-Securities
TARGET2-Securities, in shorthand T2S, is the Eurosystem's platform for securities settlement in central bank money. T2S offers centralised delivery-versus-payment (DvP) settlement across several European securities markets, without being itself ...
*
CCP Global
CCP Global (CCPG) is a global body that brings together central counterparty clearing houses (CCPs) from the world's major jurisdictions.
Overview
CCP Global was originally formed in 2001 as an informal group named CCP12 by twelve founding CCPs ...
References
External links
KDPW
Government agencies of Poland
Clearing houses
Central securities depositories of Europe
Polish Joint-stock companies
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