Romania: Changes Required by the Systems Segregation and T+2 Environment

UniCredit Bank S.A.
Summary: 
Updated matching criteria and cut off times will be applicable starting from 6 October 2014 (settlement as of 8 October 2014) for the trades executed by brokers in the Bucharest Stock Exchange and allocated to the custodian account
Tue, 23/09/2014

Dear Client,

In the context of the system segregation and the migration to the T+2 settlement cycle, reconfirmed by the Romanian Central Depository (Depozitarul Central, DC) Board for 6 October 2014, UniCredit Tiriac Bank S.A. provides you the updated list of matching criteria and cut off times applicable to the trades allocated by the local brokers to the custodian account in the post-trading system.

Current Matching Criteria

  • Direction of trade
  • Trade date
  • Settlement date
  • Quantity
  • Client name/Safekeeping
  • Settlement amount
  • Currency
  • DEAG/REAG (required after 6 October 2014)

The DEAG/REAG (95Q) field must be filled in with the code of the local broker who placed the order in the market.

In order to be able to meet the market request above please find attached the list of codes for all local brokers.

The market deadlines applicable for receiving the settlement instructions for the allocation trades are

  • SD-1 18:30 local time (for allocation trades on the custodian accounts)
  • SD 11:00 with RON 500 penalty applied by the DC

Impact on investors: The DEAG/REAG field will become matching criteria for the allocation trades and the market deadlines were amended.

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