The Centrálny depozitár cenných papierov SR, a.s. amends its Operational Rules and Tariffs

The Centrálny depozitár cenných papierov SR, a.s. (CDCP), is amending its Tariffs and  Operational Rules.

The CDCP is implementing Executory Decree No. 6 which formulates procedures for the CDCP and its participants in fulfilling their obligations within the framework of settlement failures monitoring and measures taken to improve settlement efficiency. The CDCP will be authorized to ask for more detailed information concerning settlement failures, as well as planned or adopted corrective measures and their fulfilment.

Additional changes to the Operational rules are connected to the introduction of the electronic execution of services through the new CDCP system - CDCP Portal.  The first electronic service provided through the CDCP Portal will be in transmitting invoicing information to participants via the ISO report, in line with SCoRE billing standards.

It also modifies rules that apply to crisis situations, when decisions of the resolution authority on the recovery and resolution of credit institutions and investment firms are issued. (In accordance with Act No. 371/2014 on Resolution of Crisis Situations transposing the BRRD directive 2014/59/EU.)

Changes to CDCP Tariffs are related to the planned launch of the new CDCP Portal and, subsequently, service codes are also being changed.

These changes will come into effect on 1 January 2023, except for Part VII of the Operational Rules referring to the CDCP Portal, which will come into effect from 1 February 2023.

More details can be found on the CDCP’s website, currently only available in the Slovak language:

Prevádzkový poriadok > CENTRÁLNY DEPOZITÁR CENNÝCH PAPIEROV SR, a.s. (cdcp.sk)

Impact on investors:  The CDCP has amended its Operational Rules in conjunction to the release of its new information system, the CDCP Portal, in order to improve the settlement discipline of failing participants.  Clients may be asked by participants for cooperation in clarifying settlement failures as well as measures taken to avoid future failures.