According to the project plan of Estonian CSD, it will soon be possible settle securities DVP in real-time within the Estonian market. Market cut-off for real-time DVP instructions is 5 pm local time (CET+1).
Real-time DVP will be available to all SEB Eesti hispank institutional clients in the Estonian market who are SWIFT message enabled. To settle securities against payment in real-time it is mandatory to fill in the SWIFT instruction field 22F. Otherwise, the transaction will be settled using the DVP batches.
“Cross-border real-time DVP transactions will be introduced also between Estonia, Latvia and Lithuania,” says a spokesman for SEB. “We will come back shortly with a time line and the possibilities this will offer.”