Centrálny depozitár cenných papierov SR, a.s. (CDCP) enhances information services for the participants as it adheres to the European market standards. Due to implemented changes issuers will be able to transmit announcements on changes in basic corporate actions also via the information system of CDCP.
CDCP shall incorporate the information on change of a corporate action to entire internal information system. The changes are made gradually what means that selected types of corporate actions shall be implemented in batches.
In past the participants got knowledge of corporate action events, for example change of company business name, only after the change was performed in the information system of CDCP, or from CDCP web site where CDCP publishes information on effected changes in issues. Due to modification of the information system the information will now reach the participants straightaway. This way CDCP contributes to awareness of CDCP participants. According to Peter Nagy, the Operation Director of CDCP, in practice it will be functioning simply. „The issuer shall inform CDCP on a corporate action through request for change and our system will send information about the change to a participant prior it is performed, thus consequently the participant may inform an owner on the change.“
As of now CDCP implemented to its system only such type of corporate actions which don’t require amendment of the information system or legislation. Standardised ISO 20022 messages are utilised for implemented transfer of messages via CDCP information system. “Whereas before the participant was usually advised of a corporate action via email, or had to monitor effected corporate events, now the participant shall receive standardised message from CDCP with information on specific corporate action“, explained Peter Nagy from CDCP.
The participants could have noticed the change already in October of the last year. Modification of the information service is related to compliance with the market standards and aim to improve awareness of participants and securities owners. Nowadays the changes are implemented only for general corporate actions however, in the future CDCP plans to extend types of corporate actions gradually.
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