Dear Client,
Following the submission of the application for authorization to provide central counterparty services to the Croatian Financial Services Supervisory Agency (HANFA), SKDD-CCP Smart Clear Inc. (SKDD-CCP) received the Conclusion from HANFA on 30 May 2014. Pursuant to it, the SKDD-CCP is invited to submit the amendments to the documents until the end of July 2014.
The predicted deadline for HANFA’s final opinion on the submitted documents is the end of August 2014. After giving a final opinion, HANFA will conduct a risk assessment, followed by a College with ESMA and, in case of a positive feedback, issue the authorization.
During October 2014, SKDD-CCP will present the project to all potential members. The mentioned project will consist of a presentation of the system, education and joint testing of the system.
The entire relevant time schedule should be published on the CDCC’s web page by the end of September 2014.
SKDD-CCP is scheduled to start its operations in the middle of Q1 2015.
Impact on investors: Prearrangements for introduction of a separate clearing agent on the market move into second phase.
Related Newsflashes: CDCC founded SKDD-CCP SMART CLEAR Inc.