Clearing timeline - KDPW_CCP

Clearing timeline

Clearing / Session timetable

Clearing day timetable and scope of information distributed to participants – organised trading
 

Transaction clearing day for the cash and the futures market (Day R)

no. PROCESs description
1. Online monitoring of utilisation of a clearing member’s transaction limits, current initial margins, current marking to market and option premiums. Posting and releasing cash and non-cash assets as initial deposits and initial margins in PLN and EUR

on a clearing day:

  • posting cash in PLN (from 8:00 to 17:15), releasing (from 8:00 to 17:15),
  • posting cash in EUR (from 8:00 to 12:00), releasing (from 8:00 to 14:00),
  • posting and releasing securities (from 8:00 to 18:15*)
    *according to the Accounting day timetable of KDPW (Appendix 2 to the Detailed Rules of Operation of KDPW)

*according to the Accounting day timetable of KDPW (Appendix 2 to the Detailed Rules of Operation of KDPW)
according to §§ 47-49 and § 51 of the Rules of Transaction Clearing (organised trading) and §§ 31-35, §§ 37-38 of the Detailed Rules of Transaction Clearing (organised trading)
2.

Regular clearing session for KDPW_CCP guaranteed transactions

start of processing (at 18.00)

according to Appendix 4 to the Detailed Rules of Transaction Clearing (organised trading)
3.

Distributing post-clearing reports

Clearing members receive messages which notify them of:

  • initial margin for cash and derivatives markets under the SPAN methodology,  
  • initial margin for the derivatives market under the PRCM (Portfolio Risk Calculation Model) methodology,
  • contributions to the clearing fund and the guarantee funds,
  • current marking to market for futures and option premiums,
  • projections of credit and debit balances at the transaction date on the cash market,
  • projections of securities flows at the transaction date on the cash market.

according to § 40 of the Detailed Rules of Transaction Clearing (organised trading)

Day after the transaction clearing date on the cash and derivatives market after Day R (Day R+1)

no. PROCESs description
1.

Payment of credits and debits in respect of initial margins for cash and derivatives transactions, daily marking to market, option premiums, clearing fund and guarantee funds

debit transfers 15 minutes before the session opens

according to § 47 of the Rules of Transaction Clearing (organised trading) and § 28 of the Detailed Rules of Transaction Clearing (organised trading)

przelewy uznaniowe

Days without clearing session 2024

There will be no clearing of transactions in the polish currency and in EUR in organised trading in 2024 on the following days (other than Saturdays and Sundays):

Days dESCRIPTION
1 January (Monday) Day without clearing of transactions and adjustment of payments in the system
29 March (Friday) Additional day without clearing of transactions and adjustment of payments in the system
1 April (Monday) Day without clearing of transactions and adjustment of payments in the system
1 May (Wednesday) Day without clearing of transactions and adjustment of payments in the system
3 May (Friday) Day without clearing of transactions and adjustment of payments in the system
30 May (Thursday) Day without clearing of transactions and adjustment of payments in the system
15 August (Thursday) Day without clearing of transactions and adjustment of payments in the system
1 November (Friday) Day without clearing of transactions and adjustment of payments in the system
11 November (Monday) Day without clearing of transactions and adjustment of payments in the system
24 December (Tuesday) Additional day without clearing of transactions and adjustment of payments in the system
25 December (Wednesday) Day without clearing of transactions and adjustment of payments in the system
26 December (Thursday) Day without clearing of transactions and adjustment of payments in the system
31 December (Tuesday) Additional day without clearing of transactions and adjustment of payments in the system
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