KDPW, the Polish CSD, launched its trade repository Friday, Nov. 2 to address the European Parliament and Council’s regulation for OTC derivatives, central counterparties and trade repositories (EMIR).
The classes of derivative instruments traded in trades reported to the trade repository in first phase shall include interest rate derivative contracts (IR) of the following types: forwards, forward rate agreements, futures, options and swaps.
The KDPW trade repository operates under the Trade Repository Rules approved by the KDPW Management Board. In the first operating phase, both participation and reporting trade to the repository will be free of charge.
At the turn of first and second quarter of 2013, KDPW will file for the registration of the trade repository by the European Securities and Markets Authority under the requirements of EMIR.
Once the European Commission has approved the technical standards of EMIR, the trade repositorys regulations and IT tools will be harmonized with the requirements of the standards.
(JDC)