UniCredit Bank S.A.
Summary:
Depozitarul Central (CSD) provides new timeline for implementation of CSDR and SRDII
Thu, 11/06/2020
In the framework of SRD II and CSDR implementation, local CSD announced the new calendar for the implementation of the two European regulations.
The updated implementation dates are as follow:
- CSDR stage 2, improvement of certain technical processes
- Testing with participants: 9 June - 31 August 2020;
- Participants' acceptance after testing period: 4 September 2020;
- Up-grade to the production environment: 18 September 2020.
- SRD II enhancements
- Set-up of SWIFT messages content: June 2020;
- Technical specifications for participants: July 2020;
- Testing: August 2020 - September 2020;
- Up-grade to the production environment: 18 September 2020
- Guarantee fund and settlement limit changes
- Technical specifications for participants: October 2020;
- Testing with participants: November 2020 to January 2021;
- Go-live date: 1 February 2021.
- CSDR stage 3, implementation of SDR
- Technical specifications for participants: October 2020;
- Tests with participants: November 2020 - January 2021
- Go-live date: 1 February 2021.
Impact on investors: New project implementation timeline provided by the CSD will determine the new legal and technical specifications to be put in place by market participants.