Changes in Settlement Deadlines on 30 December

UniCredit Bulbank AD
Summary: 
Central Depository AD (CDAD) and the Bulgarian National Bank (BNB) have announced changes in market deadlines for settlement on 30 December 2015.
Wed, 23/12/2015

 

Central Depository AD (CDAD) announced certain changes in its daily system schedule on 30 December 2015. According to information received by CDAD, on the last business day in 2015:

  • the first against-payment settlement batch will end at 12:05 local time instead of 11:35 local time.
  • the second against-payment settlement batch will end at 14:35 local time instead of 15:00 local time.

There will be no changes in UniCredit Bulbank’s cut-off times on 30 December 2015 for settlement of CDAD eligible securities.
BNB has also announced a shorter deadline on 30 December 2015 for settlement of client transactions in government securities. BNB will process settlement instructions until 14:45 local time instead of 16:45. UniCredit Bulbank changes its settlement deadline for government securities on 30 December 2015 to 14:00 local time (13:00 CET).

Local time is CET+1 h.

Impact on investors: Investors should be aware of the shorter settlement deadlines for government securities on 30 December 2015.