Erste Securities Polska is a direct participant of KDPW S.A. as a brokerage house and clearing agent. As the only brokerage house in Poland Erste Securities Polska is a general participant clearing through KDPW_CCP and was the first to start clearing transactions in the derivatives market as a remote member of the exchange.
Erste Securities Polska presently offers clearing services for members of the exchange which do not engage in settlements on the spot market and in the derivative instruments market. This service allows remote members to reduce the costs of clearing without having to pay for membership in KDPW or KDPW_CCP.
Erste Securities Polska offers a variety of security clearing and processing services.
- reporting transactions on behalf of the client to the trade repository (DTCC),
- reporting margins on behalf of the client to the trade repository (DTCC).
OTC trades (spot):
- preparing agency contracts for trades,
- delivery versus payment (DVP),
- delivery without payment (exchanging securities only).
- payment of dividend,
- payment of interest,
- redemption of bonds,
- exercising rights to convertible bonds, senior bonds or subscription warrants to acquire or subscribe to the shares of a new issue,
- exercising the rights issue in a dilutive seasoned equity offering,
- exercising warrants,
- redemption of investment certificates at the request of the entitled holders,
- expiry of structured certificates,
- preparing lists of persons authorized to participate in general meetings of shareholders for KDPW.
Handling selected operations on securities:
- exchange of securities – split of securities,
- exchange of securities – merging stocks,
- assimilation of securities,
- withdrawing securities from deposit,
- conversion of securities,
- stock swap on account of merger or demerger of public companies,
- rollover of bonds.
Erste Securities Polska in cooperation with companies from Erste Group provides services related to clearing transactions in foreign markets, both spot and futures.
Clearing cross-border trades (spot):
- Erste Group is the main depositary clearing foreign transactions (with the exception of Hungary and the Czech Republic),
- In Hungary and the Czech Republic clearing is carried out directly by companies from the Group (ERSTE Investment Hungary, Ceska Sporitelna),
- Erste Securities Polska offers the possibility to settle cross-border transactions in currencies other than the currency of the transaction (currency will be converted by Erste Group),
- FOP delivery is possible (cash settlement takes place in Poland).
Clearing cross-border trades (futures):
- Erste Securities Polska clears futures transactions in all global markets,
- transactions are cleared via Erste Group,
- each participant has an individual account for settling futures transactions with Erste Group,
- it is possible to charge margins in currencies other than the currency of the trade,
- this is also possible in the case of commission and day-to-day settlements of the market,
Erste Securities Polska offers customized reporting to its clients.