CySec notifies FX firms of new law on margin call level on OTC derivatives for Polish customers


Cypriot financial services regulatory authority CySec has today issued a notice regarding the level of a margin call for derivative instruments being offered in Poland.

The notice, signed by CySec Chairman Demetra Kalogerou, states that at the request of the KNF, which is the Polish Financial Supervision Authority, CySec draws the attention of the Cyprus Investment Firms (CIFs), which provide investment services through branch or cross border in the territory of the Republic of Poland, to the enacting of new legislation regarding the level of a margin call for derivative instruments being offered in Poland, coming into effect on 16th July 2015.

According to this new legislative provision, “a retail investor is allowed to invest in derivatives having a margin deposit that amounts to at least 1% of the nominal contract value of that instrument. This provision is not applicable in case of the execution of the clients’ orders on financial instruments when the margin deposit for particular financial instrument is determined and cleared by a central counterparty (CCP)”.

The full documentation from the KNF, which is available by clicking here, details the complete ruling on margin deposits which will come into effect on 16th July 2015.

 

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CySec notifies FX firms of new law on margin call level on OTC derivatives for Polish customers

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