Further improvements in the service offering to be expected
The first quarter brought exciting news from Slovakia. Most importantly, the two operating CSDs – the Central Securities Depository (CDCP) and the National CSD (NCDCP) announced that they will be merging into one. This will consolidate infrastructure and create a single modern CSD which will provide services at a highly professional level in the Slovak Republic.
On the product side, the CDCP confirmed its intention to enhance information services for its participants, in compliance with European market standards.
Currently, the CDCP system has been covering only Corporate Actions which don´t require an amendment to their information system or legislation. There are future plans to gradually extend the list of Corporate Actions covered; however, such improvements will require cooperation from the issuers, which is not foreseen by the legislation.
Already last autumn, the CDCP enhanced its information system through new information services for general Corporate Actions and re-organisations. Since then data have been submitted to the CDCP by the issuers for all types of securities, listed and unlisted. CDCP participants are further informed through its own information system in advance, i.e. before the change is executed. The structure of CA messages is in line with ISO 20022 and SMPG standards.
In the past CA information was available only retroactively, after the change had taken place, via the web page of the CDCP.
Relationship Manager, Global Securities Services Slovakia