Dear Client,
On 12 August 2014 Financial Supervisory Authority approved the amendments proposed by the Bucharest Stock Exchange and Central Depository to their Codes of Rules. The amendments concern segregation between the trading and settlement systems and establishment of a regulatory framework for T+2 settlement cycle.
The changes to the Codes will enter into force at a date mutually agreed upon by BSE and CD and approved by FSA, which cannot be earlier than 30 days and later than 90 days from the FSA decision.
Technical specifications shall be issued by BSE and CD within 90 days.
Impact on investors: Separation of the trading and post-trading systems and migration to the T+2 settlement cycle were approved by FSA.
Related Newsflash: BSE and Central Depository Announce Systems Changes and Updates on T+2 Migration