Following the conclusion on the completeness of the documentation submitted by SKDD-CCP Smart Clear Inc. (SKDD-CCP) taken by the Croatian Financial Services Supervisory Agency (HANFA) on 12 May 2015 and delivered to SKDD-CCP on 14 May 2015, HANFA has had a period of six months to conduct risk assessment and complete the licensing procedure.
Due to numerous questions related to the risk assessment received from the European Securities and the Markets Authority (ESMA), as well as the requirements of HANFA in terms of compliance with the provisions of Regulation 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) and the relevant technical standards, on 11 September 2015 SKDD-CCP received HANFA's conclusion, voted for on 10 September 2015, requiring SKDD-CCP to amend the application for authorisation within a period of six months from the date of receipt of the conclusion. Besides the submission of all required amendments to the documentation, SKDD-CCP intends to inform the public of any subsequent details on the new go-live deadlines as soon as such become available.
Impact on investors: SKDD-CCP go-live, originally scheduled for Q4 2015, has been postponed. A new estimate is currently not available and will be provided at a later stage.
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