NDS officially confirmed 1 June 2009 will be the date of new system implementation. Following our previous newsletters on the National Depository for Securities (NDS) new system implementation please note that NDS officially informed market participants that implementation will take place on 1 June 2009. The official statement says this date should be treated as a final.
According to the migration scenario, for on-exchange transactions (WSE, MTS-CeTO):
– on equities executed on 27 May (Wednesday) the settlement cycle T+3 will be shorten to T+2.
– on bonds executed on 28 May (Thursday) the settlement cycle T+2 will be shorten to T+1.
Additionally during the first week after implementation (1 – 5 June) the settlement session at 13.00 will be suspended. On 8 June (Monday) the session will be reintroduced.
Impact on Investors: Implementation of the new NDS system – which shall offer additional functionalities, such as pre-matching at NDS level, on line updates on settlement status, linked instructions, etc. – will take place on 1 June 2009
D.C.