CDCP amends Operational Rules starting January 2018

UniCredit Bank Czech Republic and Slovakia, a.s., pobočka zahraničnej banky
Central Securities Depository of the Slovak Republic (CDCP) amends Operational Rules starting January 2018
Fri, 22/12/2017

The Board of Directors of Central Securities Depository of the Slovak Republic (CDCP) approved amendments to Operational rules which will become effective on 1 January 2018. Some of the provisions will take effect after receipt of CDCP’s license according to CSDR.

The major changes in chapter formulating provisions on Access of participants, other market infrastructures, connection to other CSDs and membership are the following:

- some of the participation criteria will be re-defined as obligations of participants,

- revision of conditions of access withdrawal from participants,

Main changes in Issues and services chapter define:

- explicit declaration that CDCP may open the  account of the holder only for the participant (will be valid from the date of receipt of the license),

- new rules relating to cover bonds issues and their transformation to different issuer, 

- transfer of issue will be possible, only if all securities of the issue are held in holder’s account.

Further changes relates to Rules of settlement system describing settlement of trades in MTS (electronic trading platform for Slovak government bonds) which will be introduced by ARDAL (Debt management and liquidity Agency) early in 2018. Settlement of these trades will run on SWIFT MT541/543 and MT548 messages. CDCP will provide convertor for ISO 15022 from ISO 20022.

CDCP Tariffs introduce new fees in connection with termination of mortgage bonds issues, issuance of new cover bonds and their transformation.

Impact on investors:  Information on Operational rules amendments in line with CSDR and launch of settlement rules for MTS


Your contact
Zuzana Milanová, Head of Global Securities Services Slovak Republic
Tel. +421 2 4950 3702 , Fax +421 2 4950 2570