KDPW_CCP implemented on 1 February 2022 the changes resulting from Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 with regard to regulatory technical standards on settlement discipline.
The key aspects covered by the Regulation concerning transactions cleared by KDPW_CCP include:
- accrual and distribution of KDPW_CCP's losses arising from accrued penalties by KDPW to defaulting participants
- buy-in of securities on request of KDPW_CCP and payment of costs related to the buy-in of securities,
- cash compensation paid to the participant buying the securities in the event that the securities buy-in cannot be executed,
- notifying clearing members of the execution of procedures related to buy-in (securities auction in the KDPW_CCP GUI),
- reporting relevant information to KDPW.
