CDCP is planning to enter the second phase of its SWIFT communication implementation. By Alena Kalašová, Relationship Manager, GSS Czech Republic
The implementation of a new communication standard at CDCP is linked to CSDR Article 35 on the communication procedures with participants and other market infrastructure, which in accordance with ESMA shall be based on ISO/SWIFT.
This requirement needs to be fulfilled by the date of the authorisation of CDCP under CSDR (estimated for 1Q 2018). The estimated go-live of the SWIFT communication with participants is Q3-Q4 2017.
The first phase on the implementation was the establishment of SWIFT communication between CDCP and its depository for foreign securities listed on Prague Stock Exchange, Clearstream Banking S.A., Luxembourg.
The implementation of SWIFT for communication with its participants is planned with the aim to not make any changes to the current interface. Certain fields will require the registration of a special data source scheme (DSS), the functional specifications for which will be available in Q2 2017. This will contain all MT54X settlement types; some will be defined through DSS; MT578, MT548, MT537, MT536 and MT535 will be used for securities. For cash movements, the preliminary information about cash payment message types is yet to be defined, for currently used payment files, MT950 will be used.
A working group will be established, where participants will have the opportunity to discuss the solutions proposed by CDCP, as well as the solution for large data volumes and support for other services offered by the CDCP. UniCredit will participate in the working group to ensure seamless implementation of the changes in its infrastructure.
Alena Kalašová
Relationship Manager
GSS Czech Republic
alena.kalasova@unicreditgroup.cz