Who will be obliged to open an active account?
The obligation to hold an active account with an EU-authorised CCP - either directly or indirectly - applies both to financial counterparties (FC) and non-financial counterparties (NFC) which:
- are covered by the central clearing obligation,
- are clearing members of a third-country CCP,
- exceed the clearing threshold (Article 7a(6) of the Regulation) for any of the instruments subject to the obligation to clear via an active account (interest rate derivatives denominated in EUR and PLN and short-term interest rate derivatives denominated in EUR).
If an entity is mandated to open an active account, it has
6 months from the date of becoming subject to the obligation to do so.
Active accounts in KDPW_CCP
We offer new clearing members:
- Waiver of the 2025 registration fee for clearing participants (you save PLN 50,000 around EUR 11 650);
- An attractive participation fee - PLN 20,000 per year (around EUR 4660);
- Asset segregation;
- Standardised onboarding for EU market participants with no additional requirements;
- Simple set-up of an active account (clearing account);
- communication via FpML and XML messages;
- online access to the clearing system with the ability to view information on cleared derivatives and with the option to send and receive information to and from KDPW_CCP; free test environment and support in implementing test scenarios.
Entities subject to the new active account obligation are encouraged to ensure compliance with EMIR 3.0 well in advance. If you are interested in becoming a KDPW_CCP participant, or would like to find out more about what the KDPW_CCP clearing system can offer you, or you need support in setting up an A2A communication channel and gaining online access to the clearing system, please contact us at:
ccp@kdpw.pl
OTC derivatives at KDPW_CCP
