Following the announcement by the Single Resolution Board (SRB), instruments in Banco Popular Español S.A – ISIN code ES0113790226 – have been removed from trading with immediate effect.
The resolution by the SRB, which was published earlier today, can be found at https://srb.europa.eu/en/node/315
The purpose of this newsflash is to inform clearing participants of the actions being taken to manage this event:-
- All trading venues / MTFs have removed this ISIN prior to the start of today’s trading
- Iberclear CSD has confirmed that settlement will take place for a further two business days with the last settlement day being 8 June 2017
- EuroCCP confirms that settlement activity up to and including ISD 7 June 2017 has settled (i.e. no outstanding fails in this ISIN) and will make every effort to settle all remaining activity due to settle on ISD 8 June 2017
- EuroCCP strongly encourages clearing participants to liaise with their settlement agents to ensure settlement takes place tomorrow.
- Any settlements which are failing at close of business 8 June 2017 will be cash settled
EuroCCP is in contact with all relevant stakeholders, including CCPs and regulators, and will provide and future updates as information becomes available.