SWIFT options

Wed, 01/03/2017

The CSD Prague has implemented SWIFT communication. By Tomas Vacha, Senior Relationship Manager, GSS Czech Republic

CSD Prague (CDCP) will implement SWIFT communication for participants in order to fulfil the communication requirements for CSDs licensed under CSDR. It is expected to go live at the end of 2017 or beginning of 2018.

Under the new regime, participants will have three options:

1 No implementation of SWIFT

- No impact for the participant; SWIFT does not provide any additional functionalities and the participant will be able to access the CSD via the current interface.

2 Partial implementation of SWIFT

- SWIFT to be used completely or partially for settlement, modification, and reporting purposes.
- A data interface access to the CDCP will serve for opening accounts, set up of financial limits, and disposal right registration (pledges).

3 Full implementation of SWIFT

- Settlement, modification and reporting via SWIFT
- Other functionalities via front-end CDCP client (expected 2019 at the latest)

Tomas Vacha
Senior Relationship Manager
GSS Czech Republic