Set­tle­ment pro­ced­ure due to Nas­daq CSD Ice­land’s trans­ition to a new CSD sys­tem

As stated on Nasdaq's website, Monday, August 24, will be declared a non-settlement day. The closure reduces the likelihood of failure in the settlement process and minimizes systemic risk. On Friday, August 21, there will be one settlement batch for settling trades conducted on Wednesday, August 19. The legacy CSD system will close after noon on August 21 to prepare for migration of data to the new CSD system.

Since August 24 will be closed for settlement, trades executed on Thursday August 20, 2020, will be settled on Tuesday, August 25 (instead of Monday, August 24 as per usual). Also, trades executed on Friday August 21 will be settled on Wednesday, August 26 (instead of Tuesday, August 25 as per usual). For these two dates only, the settlement procedure will be T+3 affecting, among other things, the calculation of accrued interest and indexation factors.

Settlement days for all other trades will remain the same (T+2).