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As of 19 December 2022, KDPW_CCP clears OTC derivatives in a new system. It functions as one of the clearing modules of the kdpw_stream system, where all transactions handled by the KDPW Group are cleared as settled.
The new system for OTC derivatives clearing will raise the standard of KDPW_CCP’s OTC clearing services: it includes solutions for communication with KDPW_CCP’s participants using FpML messages and offers increased speed and flexibility which will reduce the costs of future changes to clearing services and the risk management system.
New proprietary functionalities have been introduced in the system, including transaction compression, banks’ access to post-clearing information via an external GUI, as well as risk management functionalities, such as the determination of interest rate curves, valuation of financial instruments, calculation of margin components, calculation of contributions to the OTC guarantee fund, test programme calculations, and default processing.
The kdpw_stream system, in which the OTC clearing module operates, was implemented in 2009. It was created and is continuously developed by KDPW Group IT specialists, as are most of the technological solutions offered by KDPW and KDPW_CCP. As a result, those solutions are not only tailored to the needs of clients operating on the Polish market but are also independent of global vendors and free of the high cost of licences.
