SKDD gained CSDR license

Zagrebacka Banka d.d.
SKDD will start providing services in accordance with the CSDR on February 14, 2022.
Thu, 10/02/2022

Central Depository & Clearing Company Inc. (SKDD) has been granted with CSDR licence by the Croatian Financial Services Supervisory Agency (HANFA).

Consequently, amended acts that have been submitted to the Croatian Financial Services Supervisory Agency (HANFA) for approval, as part of the authorisation procedure under Regulation (EU) No 909/2014, will enter into force as of Monday, 14 February 2022. Rules on buy-in, however have been postponed.

  • All changes arising in the process of compliance with RTS on settlement discipline will be implemented. The most significant activities of the SKDD in the coming period are: Changing of SKDD Rules, Instructions and Price list
  • Publication of Regulations on fines

Below, please find once again highlight of the changes that will be implemented in SKDD information system with the implementation of CSDR and settlement discipline:

  • New mandatory fields in settlement instructions
  • Implementation of settlement tolerance level
  • Cancellations/amendments of settlement trade instructions
  • Cash penalties for late matching/settlement are introduced on the market.

Impact on investors: Clients should take note that as of 14 February the CSDR provision will enter into force in Croatia.