SKDD’s CSDR status report

Zagrebacka Banka d.d.
Central Depository and Clearing Company Inc. (SKDD) announced the expected system changes to achieve full compliance with provisions of CSDR.
Mon, 28/10/2019

With the purpose of aligning its operations with provisions of CSDR, Central Clearing Depository and Clearing Company Inc. (hereinafter: SKDD) announced the expected amendments within the clearing and settlement system, based on the amended acts of the SKDD. New acts are expected to become effective no later than 1 July 2020 and will introduce the following changes:

       1. Daily schedule of clearing and settlement

Daily timetable for clearing and settlement (based on the Article 360 of SKDD Procedures) will be amended so that periodic processing batches within the settlement system will be carried out at intervals of every 15 minutes.

       2.Transaction-related changes

With the amendments to SKDD Procedures (point, SKDD will allow its members to independently:

  • Cancel “off-the-market” settlement transactions that have secured sale
  • Cancel the settlement transactions with conditional return

       3. Price List

SKDD Pricelist will be harmonized with the classification of services of central depositories (as defined within Section A and B of CSDR and provisions of SKDD Rules and Procedures on standard and ancillary services). Previous fees and the calculation basis will not be changed with new Pricelist as the changes are primarily related to new classification in relation to standard and ancillary services of SKDD.

Impact on investors: No impact to clients at this time, preliminary information on upcoming CSD system changes.

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