As part of its CSDR project the Norwegian CSD, VPS, will introduce additional functionality to its settlement system this year.
From Friday 15 March 2019 a third settlement cycle will be introduced which will result in the following operational timelines in VPS’ settlement system:-
|Settlement cycle||Time CET|
|First||(S-1) 20:00 – (S) 06:00|
|Second||(S) 12:00 – (S) approx. 12:10|
|Third||(S) 14:30 – (S) approx. 14:40|
The auto-partial functionality offered by VPS continues to be available for participants that have set up a broker account. EuroCCP strongly encourages the use of broker accounts to assist settlement efficiency. However, Clearing Participants that have a different account set-up in place can send a split request to EuroCCP during the following timelines to allow settlement during the next available settlement cycle:-
|Settlement cycle||EuroCCP deadline to submit split request (CET)|
|Second||09:00 – 11:00|
|Third||12:30 – 13:45|
Should you need any further information please do not hesitate to contact us.