NASDAQ OMX Nordic and Baltic exchanges implement T+2 standard settlement


NASDAQ OMX exchanges in Copenhagen, Helsinki, Iceland, Stockholm, Tallinn, Riga and Vilnius are implementing two-day standard settlement (T+2) to securities admitted to trading on the respective exchanges and First North markets. The T+2 standard settlement cycle will take effect as of October 6, 2014.

As a result of the transition from current T+3 to T+2 standard settlement, Wednesday October 8 will be the settlement date for trades executed on both Friday October 3 and Monday October 6, 2014.

The introduction of the T+2 settlement cycle is in line with the new settlement requirements in the EU (Regulation on improving securities settlement in the EU and on central securities depositories (CSDs) and amending Directive 98/26/EC) (CSDR)), which aim to harmonize securities settlement cycles within EU. The CSDR settlement requirements determine that trades executed on regulated markets or MTFs in transferable securities shall be settled no later than on the second business day after the trade takes place.

NASDAQ OMX Nordic and Baltic exchanges are implementing the T+2 standard settlement on a common date in agreement with different market participants, Central Counterparty Clearinghouses (CCPs) and Central Securities Depositories (CSDs).

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