The single Central Securities Depository (CSD) changed the planned date for the settlement of transactions with securities that are conducted on a regulated market or MTF, starting with 1 September 2019.
As of this date, the settlement of transactions on a regulated market or MTF shall be performed the second business day after the closure of transaction (T+2).
The modification of the planned date for the settlement of stock exchange transactions constitutes a paramount step in the harmonization of settlement rules applied in the Republic of Moldova, with the provisions of the Regulation (EU) No 909/2014 on the central securities depositories.
The new requirements provide a series of benefits. For instance, the financial risks related to the settlement transactions shall be reduced, as well as the period for investors to receive the money or securities from a transaction. The transition from T+3 to T+2 is established by the CSD Regulation and is one of the measures implemented by the CSD with the purpose to stimulate investments in financial instruments.