Wednesday May 14 2014
News Source: Global Exchanges
Focus: Other
Type: General
Country: Finland
Link: https://www.euroclear.com/dam/EFi/Campaigns/T-2_cycleQuestionsAndAnswers.pdf
The Nordic Securities Association, Euroclear Finland, Euroclear Sweden and other Nordic Central Securities Depositories (CSDs), Central Counterparties (CCPs), Stock Exchanges and Regulators have agreed on a common date to implement the T+2 settlement cycle.
The decided implementation day will be 6 October 2014. The settlement in the Nordic market will be changed from T+3 to T+2.
The decision was motivated by the general harmonisation of post trade in Europe. It is regulated by the European Union CSD regulation, which requires that the settlement cycle is harmonised to T+2 by 1 January 2015 at the latest.
The Q & A aims to guide the participants and provide answers to the most common questions regarding the transition in the Finnish market. The document is a living document, with the intention of being edited as new information is made available.
Click on the above link for further details.