Upgrade of KDD IT Application CRVP

UniCredit Bank Slovenija d.d.
Summary: 
In line with the T2S implementation schedule, the Slovenian CSD, KDD, has implemented an upgraded version of its IT application CRVP.
Mon, 11/04/2016

The upgrade of CRVP includes the following changes necessary for the implementation of T2S in Slovenia as part of Wave 4 in February 2017:

  • 1:1 accounts without restrictions which are replicated in T2S. The settlement on such accounts will be possible through KDD’s system CRVP and T2S.
  • N:1 technical securities account  which will be available to KDD members from 6 February 2017 .
  • Introduction of a hold/release mechanism.
  • New fields, ‘Common Trade Reference’ and ‘Beneficial Owner Indicator’.
  • Instructions matching according to the LIFO method and not to the FIFO method as before.
  • All transfers, including court executions and take-overs, are now executed based on instructions.

On 8 April amendments to KDD’s Regulations, valid from 11 April 2016, have been published on KDD’s website, http://www.kdd.si. The amendments relate to the changes associated with the upgrade of KDD’s CRVP application. The English translation of the text has not yet been published.

 

Impact on investors: KDD’s upgrade  of CRVP and amended regulations are the first step of the T2S implementation process in Slovenia.