In order to create a single securities central depository, the Centrálny depozitár cenných papierov SR, a.s. (CDCP) and Národný centrálny depozitár cenných papierov, a.s. (NCDCP) concluded an Agreement to transfer clients’ assets from the NCDCP to the CDCP in July 2021.
Following this agreement, the European Central Bank’s Governing Council has recently approved the termination of participation of the NCDCP in Target 2-Securities.
According to the plan approved by the European Central Bank, the transfer of client assets will be executed in the period from 12 till 14 November 2021.
From 15 November 2021, after this migration, the CDCP will begin providing its services to clients of the NCDCP as well.
You can find additional details in the press release published yesterday on the CDCP’s website:
Impact on investors: No direct impact on our clients since all assets are already held in the CDCP and will not be subject to transfer.
Update on the single depository project
UniCredit Bank Czech Republic and Slovakia, a.s., pobočka zahraničnej banky
European Central Bank approves final steps for migration from NCDCP to CDCP