Auto Cancellation Settlement

UniCredit Bank Czech Republic and Slovakia,a.s.
Summary: 
UniCredit Bank Czech Republic and Slovakia, a.s. will adopt the Central Depository (CSD) procedure for auto-cancellation of pending trades.
Thu, 20/11/2014

In line with the procedure currently applied by the Czech Central Security Depository (CDCP),  UniCredit Bank Czech Republic and Slovakia, a.s. decided to adopt the procedure for auto-cancellation of pending trades.

CDCP determines the validity of instructions for 20 accounting days from the date of admission. Additionally, CDCP does not allow insertion of an instruction with value date older than 15 days for DVP/RVP trades.

UniCredit Bank Czech Republic and Slovakia, a.s. will cancel or reject instructions in accordance with the methods applied by the CDCP. Following an MT548 pre-advice with status CAND//CSUB on the 20th accounting day, pending trades will be auto-cancelled.

The new procedure will be applied as of 01.12.2014.

Impact on investors: Starting from 01.12.2014 pending instructions, as cancelled by the CSD, will be auto-cancelled after 20 accounting days.