Update on CSDR settlement discipline

UniCredit Bank Slovenija d.d.
Update of the documentation required by KDD for the implementation of the CSDR settlement discipline
Tue, 27/07/2021

Slovene CSD (KDD) notified its participants on the updated documentation (still draft versions) related to the implementation of the CSDR settlement discipline measures.

The following two documents were updated:

1. External Interface Guide  describes the reports which are available to the KDD members in XML format via the Web services. In details:

    • It is confirmed that KDD will offer penalties reporting via the Web Services in XML file structure
    • The penalties report from KDD to its members will be sent in the form of semt.044 messages received from T2S. The structure and contents of this message are described in the T2S UDFS document.

    2. Matching and Settlements Standards (ISO15022) – Slovenia Market Practice describes the market practice regarding the use of SWIFT messages for the settlement of the securities transactions at KDD. In details:

      • Transaction codes – KDD will support all indicator values except the following:
        • CLAI - Market Claim
        • COLI - Collateral In
        • COLO - Collateral Out
        • CORP - Corporate Action
        • ISSU - Issuance
        • NETT – Netting
      • Place of Clearing – new optional field:
        • 94H::CLEA//KDDSSI22
      • Place of Trading – new optional field:
        • EXCH - Stock Exchange; Place of trade is a stock exchange.
        • OTCO - Over The Counter; Place of trade is over the counter.
        • PRIM - Primary Market; Place of trade is the primary market.
        • SECM - Secondary Market; Place of trade is the secondary market.
        • VARI - Various; Trade was executed on various places

      If Place of Trade is used and an ISO 10383 MIC exists for the market to be identified, then the ISO 10383 Market Identifier Code (MIC) must be used.

      If Type/Code is Exchange (EXCH) and if Identification is present, then Identification/Market Identifier Code must be present.

      If Type/Code is Over The Counter (OTCO) and if Identification is present, then Identification/Description must specify a system.

        • New additional matching fields (FOP transactions only):
          • Currency: 19A::SETT//[N]3!a15d
          • Settlement Amount: 19A::SETT//[N]3!a15d
          • Credit/Debit: 19A::SETT//[N]3!a15d
        • New optional field - Partial successful buy-in:
          • 22F::STCO//BPSS

      The updated standards are planned to go live in the beginning of December 2021; exact date is not yet confrmed.

      Impact on investors: Clients should take note of the new Matching and Settlements Standards (Swift ISO15022) to go live in December 2021.