UniCredit Bank Slovenija d.d.
Fri, 09/07/2021
Slovene CSD (KDD) notified it’s participants on the updated plan for the implementation of CSDR settlement discipline measures. The planned implementation timeline, presented in September 2020, was delayed due to transposition of SRD II into national law in February 2021 and consequently preparation and implementation of SRD II processes and activities (including workshops and testing), which conflicted with the initial plans for activities related to CSDR settlement discipline measures implementation.
Details of the new plan:
- CSDR workshop is scheduled for the first half of September 2021. Further information on the workshop will be presented in the second half of August. The workshop will present in detail the content of all changes (both in terms of penalties and other measures to ensure settlement discipline) and the testing plan.
- Prior to the workshop, the technical details are planned to be made available in the NMPG (National Market Practice Group) document and the EIG (External Interface Guide) Handbook – these documents will be updated with the changes related to settlement discipline measures.
- KDD will enable members to test the functionality of penalties mechanism (and other related changes) in the test environment after the workshop.
- The period of trial billing and penalties reporting, as well as their settlements (the so-called “dry-run” period) on T2S production data is expected to begin in December 2021.
Impact on investors: Additional information from KDD on market plans for implementation of CSDR settlement discipline measures.