Changes in Settlement Deadlines on 30 December

UniCredit Bulbank AD
Summary: 
Central Depository AD (CDAD) and the Bulgarian National Bank (BNB) have announced changes in market deadlines for settlements on 30 December 2016.
Tue, 27/12/2016

Central Depository AD has announced changes in its daily system schedule on 30 December 2016. The changes in the timings are as follows:

  • The first against-payment settlement batch will end at 10:30 local time instead at 11:35 local time.
  • The second against-payment settlement batch will end at 13:00 local time instead at 15:00 local time.

There will be no changes in UniCredit Bulbank’s cut-off times on 30 December 2016 for settlement of CDAD eligible securities.

BNB also announced a shorter deadline for settlement of client transactions of government debt which are to be settled OTC, applicable on 30 December 2016. BNB will accept settlement instructions until 14:45 local time instead of 16:45. UniCredit Bulbank has changed its settlement deadline for government securities from 16:00 local time to 14:00 local time, applicable on 30 December 2016.
Local time is CET+1 h.

Impact on investors: Investors should be aware of the shorter settlement deadlines for government securities on 30 December 2016.