Adaptation of the KDPW Group to the Target Services system
In connection with the adaptation of the KDPW Group to the Target Services system, modifications have been made to KDPW’s IT systems to meet the requirements of the new Target Services system following the consolidation of the Target2 system and the Target2-Securities system. At this time, KDPW and KDPW_CCP, like all Target 2 system participant, are finalising preparations for migration to the new EUR settlement platform: Target Services.
Tests
Since March 2022, we have conducted intensive tests with your participation to verify the settlement process in EUR in KDPW and KDPW_CCP.
Roll-out
On 20 March 2023, the pan-European EUR interbank settlement system Target2 operated by the Eurosystem will be replaced by the T2 service, which will become a part of the Target Services package.
Go-live of the T2-T2S consolidation project confirmed (europa.eu).
Rules
Amendments that shall enter into force on the date of launch of TARGET system.Further to the decision of the Polish Financial Supervision Authority, approving amendments to the KDPW Rules adopted in Resolution No 31/973/22 of the KDPW Supervisory Board of 14 September 2022 please be advised that these amendments to the KDPW Rules enter into force on the date of launch of the new TARGET system (on 20 March 2023).