The Polish central counterparty (CCP) KDPW_CCP is implementing ISO 20022 messaging via SWIFT to communicate with its clearing participants.
KDPW_CCP clearing members will be able to use their existing SWIFT connectivity to receive messages covering clearing flows for cash equities.
Responding to new regulation, KDPW also will launch a new CCP service for OTC derivatives in 2012 and will adopt SWIFTs Accord for Treasury for matching these transactions.
Adopting standardized messaging enables KDPW group to align with European market harmonization initiatives, and will reduce operational risks and costs for our clearing community, as well as KDPW_CCP itself, says Iwona Sroka, president and CEO of KDPW_CCP.
Alain Raes, chief executive for EMEA at SWIFT, adds: The combination of ISO standardized messaging and SWIFT connectivity enables cost and risk reduction for financial institutions that must connect to multiple clearers while enabling CCPs themselves to offer the best quality of service to their clearing communities.
(CG)