30 December 2024
Year 2024 in KDPW Group
It has been two months have since the celebrations marking the 30th anniversary of KDPW, which afforded an opportunity to take stock of the achievements of the past three decades, and now the end of the year is approaching, a period when we traditionally sum up the past 12 months. Looking at the capital market and the developments at the KDPW Group, it has been a very busy time.
New Services for the Market
On 4 January 2024, the KDPW Group launched seven new statistical reports, published on the Data Portal available at data.kdpw.pl. Six reports are available in the paid data packages and one report was added to the reports available free of charge.
With changes to the Shareholder Identification application introduced from 16 September 2024, listed companies can use tools facilitating shareholder loyalty programmes. The new functionalities of the application enable companies to receive periodic reports on shareholder identity and their shareholding balances, and filter received data with convenience.
EMIR 3.0 imposes an obligation on EU market participants that clear certain OTC derivatives in EUR and PLN in third-country CCPs, directly or indirectly, to have an active account, i.e. at least one clearing account with an authorised EU CCP. KDPW_CCP offers this service. New clearing members of KDPW_CCP are offered, among others, a waiver of the fee for entry into the register of clearing members in 2025 (a saving of PLN 50,000), an attractive participation fee, segregation of assets, a simple process for opening an active account (clearing account), online access to the clearing system, and a free test environment.
Anniversary Year
The year 2024 is special for KDPW and its stakeholders. It marks 30 years since KDPW, and now the KDPW Group, started to provide post-trade services to the financial market.
At a ceremony on the 30th anniversary of KDPW, held on 5 November at the Museum of Polish History in Warsaw, awards were presented to KDPW Group participants for their activity and involvement in cooperation with the KDPW Group and their efforts for the development of the capital market. The awards went to Bank Handlowy in Warsaw, Bank Pekao, BM Banku Pekao, DM BOŚ, Erste Securities Polska, ING Bank, mBank, PKO Bank Polski, XTB.
The year 2024 marks the 10th anniversary of the KDPW EMIR Trade Repository. During this period, KDPW has received 6.6 billion reports on 2 billion transactions. A decade ago, the EMIR Trade Repository had 73 participants. Currently, 280 entities, including 40 foreign entities, are participants in the KDPW Trade Repository.
Not only KDPW celebrated its anniversary. The industry newspaper Gazeta Giełdy i Inwestorów “Parkiet” had its 30th anniversary and awarded KDPW for its contribution to the development of the capital market during the annual Bulls & Bears Gala. The Association of Individual Investors turned 25 in 2024. Persons who have made a special contribution to the establishment and work of the Association over the last quarter of a century were honoured during the gala event accompanying the WallStreet conference. The commemorative Diamond went among others to KDPW.
Best Performing LOU Award for KDPW
KDPW received the Best Performing LOU Award. The award recognises KDPW's continued commitment to maintaining the highest quality data and its exemplary LEI issuance service. The award was presented at the GLEIF Forum in Paris on 7 November 2024.
The Best Performing LOU Awards were established in 2023 by the Global LEI Foundation to recognise the work of LEI issuers (LOUs) in adhering to data quality and service levels. The awards aim to increase transparency and better manage risk in the global financial market.
Polish Financial Institutions Join Forces to Develop European Capital Markets
Ten key financial institutions in Poland presented a joint vision of the future of the European capital market on 10 December 2024. Their position paper includes eight key recommendations for advancing the Capital Markets Union and building the Savings and Investments Union. The priorities include a balanced approach to market integration, attracting individual investors, developing pension funds and plans and PE/VC/PD, simplifying regulations for SMEs, enhancing financial education, fostering market liquidity, optimising post-trade processes, and rebuilding investment banking. The Polish presidency of the EU Council in 2025 will be an opportunity to promote these priorities among Member States to increase their impact on the development of the common capital market.
The position paper has been endorsed by KDPW as well as the Warsaw Stock Exchange (GPW), the Chamber of Brokerage Houses (IDM), the Chamber of Commerce of Pension Societies (IGTE), the Chamber of Fund and Asset Management (IZFiA), the Polish Chamber of Insurance (PIU), the Polish Private Equity and Venture Capital Association (PSIK), the Association of Stock Exchange Issuers, the Association of Individual Investors (SII), and the Polish Bank Association (ZBP).
International Meetings: An Opportunity to Promote Warsaw as a Regional Financial Hib
In 2024, KDPW organised events and hosted in Warsaw representatives of two international organisations of which it is a member.
KDPW hosted the Warsaw Global SMPG Meeting on 24-26 September. Nearly 40 representatives of financial institutions from around the world came to Warsaw. The mission of the Securities Market Practice Group (SMPG) is to develop global market standards and practices in the areas of securities settlement, corporate actions, and investment fund operations. The Group comprises around 60 representatives from custodian banks, brokerage houses, investment management firms, central securities depositories and regulatory authorities.
KDPW hosted the ANNA General Meeting from 2 to 4 December. The Association of National Numbering Agencies (ANNA) is a global member association of National Numbering Agencies, seeking to foster standardisation within the financial industry by upholding the International Organization for Standardization (ISO) principles, and by promoting ISIN, FISN and CFI codes for financial instruments. More than 60 delegates from around the world took part in the ANNA General Meeting and had the opportunity to learn more about the Polish capital market from the perspective of key infrastructure institutions at the ANNA Meets the Market meeting.
Number of Brokerage Accounts Crossed 1.9 mn
KDPW publishes statistics on the number of securities accounts managed by banks and brokerage firms operating on the Polish market on a monthly basis. In July 2024, that number exceeded 1.8 million for the first time in history. Financial institutions maintained more than 1.9 million brokerage accounts at the end of November. Data for December 2024 will be available at the beginning of January 2025.
Adoption of Financial Education Strategy
On 25 June 2024, the Council of Ministers adopted a resolution approving the public policy “National Financial Education Strategy. Policy for the Development of Financial Literacy” tabled by the Minister of Finance. Representatives of KDPW participating in the Financial Education Council took active part in the creation of this document.
The strategy sets out a general strategic framework for financial education in 2024-2030 and a first implementation plan for 2024-2026. Supporting financial education activities is one of the statutory objectives of KDPW, which has been involved in such initiatives for years. In this respect, KDPW cooperates with organisations, foundations and universities working in the field of economic education.
New Services for the Market
On 4 January 2024, the KDPW Group launched seven new statistical reports, published on the Data Portal available at data.kdpw.pl. Six reports are available in the paid data packages and one report was added to the reports available free of charge.
With changes to the Shareholder Identification application introduced from 16 September 2024, listed companies can use tools facilitating shareholder loyalty programmes. The new functionalities of the application enable companies to receive periodic reports on shareholder identity and their shareholding balances, and filter received data with convenience.
EMIR 3.0 imposes an obligation on EU market participants that clear certain OTC derivatives in EUR and PLN in third-country CCPs, directly or indirectly, to have an active account, i.e. at least one clearing account with an authorised EU CCP. KDPW_CCP offers this service. New clearing members of KDPW_CCP are offered, among others, a waiver of the fee for entry into the register of clearing members in 2025 (a saving of PLN 50,000), an attractive participation fee, segregation of assets, a simple process for opening an active account (clearing account), online access to the clearing system, and a free test environment.
Anniversary Year
The year 2024 is special for KDPW and its stakeholders. It marks 30 years since KDPW, and now the KDPW Group, started to provide post-trade services to the financial market.
At a ceremony on the 30th anniversary of KDPW, held on 5 November at the Museum of Polish History in Warsaw, awards were presented to KDPW Group participants for their activity and involvement in cooperation with the KDPW Group and their efforts for the development of the capital market. The awards went to Bank Handlowy in Warsaw, Bank Pekao, BM Banku Pekao, DM BOŚ, Erste Securities Polska, ING Bank, mBank, PKO Bank Polski, XTB.
The year 2024 marks the 10th anniversary of the KDPW EMIR Trade Repository. During this period, KDPW has received 6.6 billion reports on 2 billion transactions. A decade ago, the EMIR Trade Repository had 73 participants. Currently, 280 entities, including 40 foreign entities, are participants in the KDPW Trade Repository.
Not only KDPW celebrated its anniversary. The industry newspaper Gazeta Giełdy i Inwestorów “Parkiet” had its 30th anniversary and awarded KDPW for its contribution to the development of the capital market during the annual Bulls & Bears Gala. The Association of Individual Investors turned 25 in 2024. Persons who have made a special contribution to the establishment and work of the Association over the last quarter of a century were honoured during the gala event accompanying the WallStreet conference. The commemorative Diamond went among others to KDPW.
Best Performing LOU Award for KDPW
KDPW received the Best Performing LOU Award. The award recognises KDPW's continued commitment to maintaining the highest quality data and its exemplary LEI issuance service. The award was presented at the GLEIF Forum in Paris on 7 November 2024.
The Best Performing LOU Awards were established in 2023 by the Global LEI Foundation to recognise the work of LEI issuers (LOUs) in adhering to data quality and service levels. The awards aim to increase transparency and better manage risk in the global financial market.
Polish Financial Institutions Join Forces to Develop European Capital Markets
Ten key financial institutions in Poland presented a joint vision of the future of the European capital market on 10 December 2024. Their position paper includes eight key recommendations for advancing the Capital Markets Union and building the Savings and Investments Union. The priorities include a balanced approach to market integration, attracting individual investors, developing pension funds and plans and PE/VC/PD, simplifying regulations for SMEs, enhancing financial education, fostering market liquidity, optimising post-trade processes, and rebuilding investment banking. The Polish presidency of the EU Council in 2025 will be an opportunity to promote these priorities among Member States to increase their impact on the development of the common capital market.
The position paper has been endorsed by KDPW as well as the Warsaw Stock Exchange (GPW), the Chamber of Brokerage Houses (IDM), the Chamber of Commerce of Pension Societies (IGTE), the Chamber of Fund and Asset Management (IZFiA), the Polish Chamber of Insurance (PIU), the Polish Private Equity and Venture Capital Association (PSIK), the Association of Stock Exchange Issuers, the Association of Individual Investors (SII), and the Polish Bank Association (ZBP).
International Meetings: An Opportunity to Promote Warsaw as a Regional Financial Hib
In 2024, KDPW organised events and hosted in Warsaw representatives of two international organisations of which it is a member.
KDPW hosted the Warsaw Global SMPG Meeting on 24-26 September. Nearly 40 representatives of financial institutions from around the world came to Warsaw. The mission of the Securities Market Practice Group (SMPG) is to develop global market standards and practices in the areas of securities settlement, corporate actions, and investment fund operations. The Group comprises around 60 representatives from custodian banks, brokerage houses, investment management firms, central securities depositories and regulatory authorities.
KDPW hosted the ANNA General Meeting from 2 to 4 December. The Association of National Numbering Agencies (ANNA) is a global member association of National Numbering Agencies, seeking to foster standardisation within the financial industry by upholding the International Organization for Standardization (ISO) principles, and by promoting ISIN, FISN and CFI codes for financial instruments. More than 60 delegates from around the world took part in the ANNA General Meeting and had the opportunity to learn more about the Polish capital market from the perspective of key infrastructure institutions at the ANNA Meets the Market meeting.
Number of Brokerage Accounts Crossed 1.9 mn
KDPW publishes statistics on the number of securities accounts managed by banks and brokerage firms operating on the Polish market on a monthly basis. In July 2024, that number exceeded 1.8 million for the first time in history. Financial institutions maintained more than 1.9 million brokerage accounts at the end of November. Data for December 2024 will be available at the beginning of January 2025.
Adoption of Financial Education Strategy
On 25 June 2024, the Council of Ministers adopted a resolution approving the public policy “National Financial Education Strategy. Policy for the Development of Financial Literacy” tabled by the Minister of Finance. Representatives of KDPW participating in the Financial Education Council took active part in the creation of this document.
The strategy sets out a general strategic framework for financial education in 2024-2030 and a first implementation plan for 2024-2026. Supporting financial education activities is one of the statutory objectives of KDPW, which has been involved in such initiatives for years. In this respect, KDPW cooperates with organisations, foundations and universities working in the field of economic education.
