Wednesday April 29 2015
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Italy
Monte Titoli has announced that the Instructions to the Settlement Services for T2S and the Instructions to the Central Depository Services for T2S have been published in Monte Titoli’s website.
The documents finalise the contractual and regulatory set for the migration to Target2 Securities, which includes the Rules for Settlement System and CSD, the General Terms and Conditions Part II and the Request for Services.
All documents will enter into force on the 22nd June 2015.
The Instructions also encompass the settlement discipline, which reflects the current system considering failed securities positions that remain unsettled at the end of the settlement phase. Transactions to be settled cross CSD are not to be considered.
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