CSDR CCP Penalties: Change of KELER penalty reporting - Reminder

UniCredit Bank Hungary Zrt.
Thu, 29/08/2024

Effective 2 September 2024, the penalty mechanism for late settlement and late matching fails in relation to  CCP transactions will change in line with the Delegated Regulation (EU) 2023/1626 of 19 April 2023 on amending the regulatory technical standards in Delegated Regulation (EU) 2018/1229. Penalties on cleared transactions, which are currently collected and distributed by CCPs, will become part of the responsibility of CSDs, both in terms of collection and re-distribution.

KELER, the Central Depository and Clearing House will adapt its reporting and payment processing accordingly and will implement the following changes in the MT537 PENA messages:

  • KELER will continue to use the ‘CCPA’ flag in the Party Capacity Indicator (:22F::TRCA) field for failed settlement  transactions submitted by KELER CCP.
  • However, the Amount Computed Flag (:17B::CMPU) field will always contain "Y" (YES) for  the above mentioned trades, as  KELER will aggregate the penalties for settlement orders submitted by KELER CCP so that these penalties are included in the global net amount (GBNT).

Our earlier Newsflash in this topic can be found at  the following link:

Changes in penalty reporting in line with the amendment of Article 19 of CSDR RTS | Custody | UniCredit Group


Impact on investors:  For information purposes.