Clearing member default and default waterfall - KDPW_CCP

Clearing member default and default waterfall

The sequence of activating clearing guarantee system resources

debits of the defaulting member
margins posted by the defaulting member
resources of the relevant fund contributed by the defaulting member
I dedicated resources (depending on their allocation to the fund)
contributions of other KDPW_CCP members to the relevant fund
II dedicated resources (depending on their allocation to the fund)
KDPW_CCP on capital
(up to 110% of the capital requirement)
additional contributions of other KDPW_CCP clearing members
(max. 100% of the most recent basic contribution)

Email address for notifications of a declaration of bankruptcy or the opening of a restructuring procedure, issuance of a ruling, judgment or decision by the court or competent authority concerning liquidation, suspension or limitation of the activity of a participant, in accordance with § 1(3) of the Regulation of the Council of Ministers of 3 October 2014 concerning the procedure of giving notifications to the National Bank of Poland, the Polish Financial Supervision Authority, and operators of payment systems and securities settlement systems:  ccp@kdpw.pl