Wednesday August 26 2015

News Source: Global Exchanges

Focus: Trading Rules

Type: General




Monte Titoli has announced in view of the migration to the T2S platform, it has confirmed the entry into force from August 31st, 2015 amendments to the following regulations and instructions:

  • Centralised Depository Service (including the Service Instructions on the reconciliation procedures)
  • X-COM Collateral Management Service;
  • Settlement Service (including recent changes to Article 22 of the Regulations of the Settlement Service concerning finality and irrevocability of cash transfer orders, as approved by the Authorities on August 8th, 2015)

As anticipated, under the Rules and Instructions of the Settlement Service the provisions relating to the features of cash forecasting and management of corporate actions on flows for OTC trades have been noted and highlighted. Their entry into force is suspended until the release of the above functionality.

It has been highlighted that Monte Titoli, after consulting the Supervisory Authority, considers appropriate to suspend the application of penalties as referred to in Article 12, paragraph 7, of the Regulations of the Settlement Service and related Instructions, for a calendar month starting from the 31st August, until the settlement process of the 30th, September 2015.

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