On the way to T2S

(Created: 10.11.2016 00:45, Source: NCDCP)

By signing the T2S Framework Agreement with the governor of the National Bank of Slovakia on 17th May 2016, NCDCP officially became the 24th member of the prestigious European group of central securities depositories, the aim of which is migration into the international system of settlement of securities transactions, entitled TARGET2-Securities (T2S).

The September meeting of the T2S Steering Committee (CSG) in Frankfurt am Main declared that NCDCP is prepared, both in respect of the personnel and technology, for migration into T2S. In view of the fact that NCDCP, as a new institution, represents a relatively small database of managed data which should be the object of migration, transfer thereof into the T2S environment should be quick and with minimum risk only. The exact date of migration will be determined based on additional decisions of the relevant managing levels of T2S.

Currently, together with the partner European central depositories, we intensively search for optimum solution in respect of the date and model of migration into T2S, also in view of the fact that in case of migration of NCDCP it is a specific situation which has never occurred before within the T2S Project. Within the local market, in cooperation with other subjects of infrastructure, we try to prepare the best form of interconnection with the participants in the market during the transitional period until the moment of migration into T2S.