Implementation of the Third Against-Payment Settlement Cycle at CDAD

UniCredit Bulbank AD
Summary: 
The Central Depository AD (CDAD) announced the implementation of the third settlement cycle for against-payment transactions.
Tue, 22/08/2017

Today, the CDAD announced that as of 18 September 2017 a new against-payment settlement cycle will be implemented in an attempt to align the CDAD’s activity with the CSDR provisions and the technical standards. As a result, there will be three against-payment settlement cycles and fourteen regular batch-processing per day. After the change, the settlement schedule at the CDAD will be as follows:

8:00 - Initial processing;
9:00 - Intermediate processing;
10:00 - Intermediate processing and preparation of final net positions and sending instructions to RINGS;
10:30 - Receiving confirmation from RINGS and settlement processing;
11:20 - Intermediate processing;
12:00 - Intermediate processing and preparation of final net positions and sending instructions to RINGS;
12:30 - Receiving confirmation from RINGS and settlement processing;
13:20 - Intermediate processing;
14:30 - Intermediate processing and preparation of final net positions and sending instructions to RINGS;
15:10 - Receiving confirmation from RINGS and settlement processing;
16:00 - Intermediate processing;
17:00 - Intermediate processing;
17:50 - Intermediate processing;
19:00 - Last daily processing.

Impact on investors: Improvement of the settlement processing of the CDAD and further alignment of settlement with EU Regulations. There will be no changes in the settlement deadlines

Related news:  New Against-Payment Settlement Cycle at CDAD