As publicly announced on the website of Central Depository & Clearing Company Inc., in the process of obtaining the licence necessary to provide the services of a central counterparty, SKDD-CCP Smart Clear Inc. (SKDD-CCP) has re-submitted the complete documentation including the validation report of the new risk management model to local regulator HANFA on 6 May 2019. In Conclusion issued on 17 June 2019 HANFA confirmed that SKDD-CCP’s request to offer the services of a central counterparty is complete and ready for risk assessment.
Further details on time plan and operational milestones will be available after 5 July 2019, when SKDD-CCP is expected to hold a presentation for local market participants.
Impact on investors: After several delays, SKDD-CCP request to offer the services of a central counterparty was assessed by HANFA as complete and ready for risk assessment.
Related Newsflashes: SKDD-CCP Smart Clear seeks for approval to provide central counterparty services