Croatian Central Depository and Clearing Company Inc. (SKDD) confirmed that, according to agreement with participants of several European associations, they have changed the Rulebook for processing cycle for settlement fail penalties to align with ECSDA calendar.
According to the new Rulebook the changes are as follows:
- predicted settlement date of PFOD settlement instructions is changed from 17th to 18th working day for settlement penalties,
- this change is due as of April 2023 (i.e., for late settlement in February, settlement date for fail penalties PFOD will be 17th working day and for late settlement in March, settlement date for fail penalties PFOD will be 18th working day).
Calendar of late penalties for 2023 is available on the official web page of SKDD (Croatian version only).
Impact on investors: In line with the new dates of SKDD, Zagrebacka banka d.d. will also change the settlement date for fail penalties from April 2023 onwards