The date of Partial Settlement implementation confirmed
Local CSD, Centrálny depozitár cenných papierov SR, a.s. (CDCP), is set to introduce Partial Settlement functionality in its settlement system on September 7th and 8th, 2024. This information was confirmed during the Participants Committee meeting held at the end of March. CDCP has already updated its Operational Rules, effective as of March 15th, 2024, to accommodate this change. Partial Settlement will be accessible on participants' securities accounts (holder and own assets’ account types), but not on clients' owner beneficial accounts. The Partial Settlement Indicator can be configured either at the securities account level or for individual settlement transactions. Both parties involved in the settlement transaction must consent to the partial settlement execution. Concurrently, CDCP will also introduce Partial Release, enabling partial settlement of trades concluded in MTS Slovakia on approved types of securities accounts.
Testing with participants started 18 May 2024. Although CDCP is fully prepared for the implementation, the majority of market participants still need to adjust their systems, thus starting to offer the service to clients in a later term.
The latest update of the Operational Rules has introduced new invoicing standards, marking the first completed task within the SCoRe project by CDCP - the deployment of new billing formats for invoices issued to participants. The new format was first utilized in April 2024 for the previous month. This change provides participants with a more detailed invoice featuring a per-account breakdown. Furthermore, invoice records are accessible through the CDCP Information System in either CSV file or camt.077 message formats. The due date is now the 15th calendar day or the next business day if the 15th falls on a non-business day. However, bilaterally agreed rules for invoice delivery via email or post remain in effect.
