Creation Link Guide - Poland

30.01.2017

Key features

Yes/NoRemarks
Settlement free of paymentYes Stamp duty may be applicable.
Settlement against paymentYes

Stamp duty may be applicable.

Eligible settlement currencies: Polish Zloty (PLN); Euro (EUR) only for EUR denominated mortgage bonds.

Equities/warrants/rights: Stock exchange and OTC settlement.
T-bills: OTC settlement.
T-bonds: Stock exchange (if traded on the WSE) and OTC settlement.
Covered, corporate, mortgage and municipal bonds both for stock exchange (if traded on the WSE) and OTC settlement.

Bridge settlementNo 
Shaping facilityNo 
Partial settlementYesUpon request from customer and with the agreement of the counterparty.
Settlement penalty feesNo 
Pre-matchingYes 
Back-to-back processingYes 
AllegementsYes 
Automatic compensationYesOnly if transactions are executed with local broker or remote dealer on the WSE and are suspended by KDPW, KDPW will process automatic compensation.
Registered securitiesNo 
Multi Market SecuritiesYes 
Lending and borrowingYesASL only.
Proxy votingYes 
Investment FundsNo 
Liquidity Hub ConnectNo 
Sale and purchase of rightsNo 
Repo servicesYesGovernment bonds only.
Market restrictionsYesSee holding restrictions.
FTTNo 
FATCA GIINYesCITI: NXUTG8.00324.ME.616
KDPW: 02JM6C.00000.LE.616

Type of link

CSD or settlement method

Indirect via Bank Handlowy S.A., Warsaw

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National Bank of Poland (NBP) for T-bills.

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National Depository for Securities (KDPW) for T-bonds, covered, corporate and municipal bonds and equities.

Direct link to KDPW operated by Bank Handlowy

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EUR denominated mortgage bonds.