As a part of SWIFT implementation project at Central Securities Depository of Slovak Republic (CDCP), CDCPs existing non-Swift BIC code will change on 1 March 2008.
Current non-Swift BIC code CDSRSKB1 will be changed to non-Swift BIC CSDSSKB1.
New non-Swift BIC CSDSSKB1 will be in use until CDCP connects to live Swift network. Go-live is scheduled for 5 April 2008. On that day the non-Swift BIC CSDSSKB1 will change to a Swift BIC CSDSSKBA.
In spite of the fact that CDCP connects to Swift in April implementation of Swift messages at CDCP will not occur sooner than on 1 January 2009. CDCP will use the period from April December 2008 for testing. The main reason why CDCP has become a SWIFT member is connection to the Target 2 network. There is curently no project at CDCP scheduled to implement processing of SWIFT settlement instructions.
At present, there is no straight-through processing (STP) environment in Slovakia CDCP does not process Swift settlement messages. Clients instructions are not automatically routed to CDCP systems. Non-Swift BIC code is only used in the field PSET of settlement instructions and confirmation.