The Bulgarian Central Depository AD (CDAD) provided an implementation schedule for its amended rules and regulations and new IT-system. According to the decision made by the CDAD Board of Directors, the amended rules and regulations will come into force as of 1 January 2014. CDAD's new IT-system will be launched on the same date but the current IT-system will still be operative until 30 June 2014. According to CDAD the parallel operation of both IT-systems for a six-month period gives CDAD members enough time to enhance their own securities systems and minimise the risks from launching the new IT-system. A testing of the new IT-system will be possible until the end of 2014.
CDAD also published its final version of the Operating Instructions for the System for Clearing and Settlement (SCS) and the Register of Financial Instruments (RFI) which will also come into force as of 1 January 2014.
Impact on investors: CDAD amended rules and regulations, new IT system and Operating Instructions for the SCS and RFI will enter into force as of 1 January 2014. The current IT-system will be operative until mid-2014.
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