The Central Depository received the approval on the amendments of the Code of Rules related to the implementation of the T+2 settlement cycle. The amendments will be aplicable starting with 06 October 2014.
In addition, NBR approved the daily cash net settlement processing at 15:00 local time (CET +1) instead of currently 12:00 local time (CET +1).
We kindly remind you of the settlement details necessary for settlement in the new environment (systems‘ segregation and T+2 settlement cycle):
The market deadlines applicable for receiving the settlement instructions for the allocation of trades are:
- SD-1 18:30 local time (CET +1) (for allocation of trades on the custodian accounts)
- SD 11:00 local time (CET +1) with RON 500 penalty applied by the Central Depository
Matching criteria:
In addition to the already existing matching criteria the field DEAG/REAG (95Q) will now also be a requirement for settlement instructions.
Impact on investors: NBR and FSA approved the regulatory amendments for the T+2 settlement cycle migration.