Commodity Clearing House implements a new data reporting model

PQD reports as a tool increasing the transparency of the clearing guarantee system for the Polish Power Exchange
 

Press release

  • The Commodity Clearing House starts to report information, parameters and statistics from the risk management area.
  • This process will be conducted on a quarterly basis in an international format designed for clearing houses, in accordance with the Public Quantitative Disclosure Standards for Central Counterparties (PQD).

 

The reporting mechanism being implemented is consistent with the guidelines of the Committee on Payments and Market Infrastructures of the Bank for International Settlements and the International Organization of Securities Commissions (CPMI-IOSCO). The data published on the IRGiT website will include, among other things: aggregate statistics on the level of cleared transactions and statistics related to the total levels of collateral collected, credit risk exposure messages, detailed parameters of the collateral model, and information on the structure of the clearing house members.

- As part of the development of our offering, we are strongly focused on increasing the transparency of our systems. We recognize that the operations of clearing houses are quite complex, which makes it all the more important for us to support clients in better understanding of our operation at the detailed level. I am convinced that the PQD reports will become an important tool to accurately analyze the scale of risk, as well as to assess individual models used within the risk management system. I believe that the newly launched tool will become a source of information for our members, regulators, cooperating banks, foreign business partners and international associations in which we operate - said Łukasz Goliszewski, Vice-President of the IRGiT Management Board.

The data provision method will follow a standardized format developed by international clearing house associations, with aggregate statistics from all institutions publishing reports available on the websites of the European Association of CCP Clearing Houses (EACH) and Global Association of Central Counterparties – CCP12. The introduction of reporting will facilitate access to data for all interested parties, including, in particular, IRGiT’s clients, as well as enable comparisons with other clearing houses around the world affiliated with CCP12 by using a uniform approach to the way information is reported.

For anyone interested in learning more about the new reporting model, IRGiT plans to host a dedicated webinar on 29 July 2021.