Effective from July 2nd, 2007 the Bratislava Stock Exchange has taken over and replaced the system for settlement from the CSD.
“The go-live process was followed closely from our local experts, at Raiffeisen-Group member Tatra Banka, and the transition went very smoothly. The old system stayed online for some time because all trades done until June 29th, 2007 have to settle in the old system” says RZB spokesman.
The new system is expected to gain greater confidence from the market participants and shows better features than its predecessor. The execution of the trades is more automated and the OTC trades can now be placed into the system and settled on a continuous basis.
“The experience with the new system so far leaves us with confidence and we can state that it was a good step to make trading and settlement more reliable and safer for the whole environment”, says, Juraj Kvasnicka, Head of Custody at Tatra Banka.