The Polish CSD, the National Depository for Securities (NDS), is making its Electronic System for Distribution of Information (ESDI) – which is used to exchange settlement instructions and confirmations with market participants and to transmit corporate action information – available through an Internet platform for the first time.
Until now, participants have had to communicate with the NDS by enciphered e-mail systems installed on dedicated workstations in their offices. From yesterday, however, participants have the option to use the Internet with the same level of security as the existing communication tool.
“As the existing enciphered e-mail communication channel will be maintained, the participants may not only chose which system they would like to use, but may also operate both communication channels, one of which can be kept as a back-up tool in case of a contingency situation,” says Krysztof Pekrul, head of custody at Bank BPH in Warsaw.