Depozitarul Central S.A. – the Romanian CSD – has announced that it has completed the development of its technical system and got approval for the amendments of its Rulebook from the Financial Supervisory Authority and the National Bank of Romania in order to set the framework for the settlement in euro of the transactions concluded within the trading systems operated by the Bucharest Stock Exchange with euro denominated financial instruments.
Depozitarul Central uses the TARGET2-Securities platform for euro settlements by enhancing the SWIFT communication services in relation to the participants by adapting the messages currently used for the settlement in line with the market practice of the T2S Platform. Also, a conversion mechanism was implemented between SWIFT messages used in the communication with participants (ISO 15022 format) and T2S platform specific messages (ISO 20022 format). Depozitarul Central stated that it intends to gradually extend the rules implemented for the euro settlement on the T2S Platform to the domestic currency settlements.