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

Nasdaq CSD Iceland (NCSDI) is planning a transition to a new settlement system on August 24, 2020. Due to the launch of the new system, it has been decided - following consultation with customers and the Financial Supervisory Authority of the Central Bank of Iceland - that there will be no settlement of trades in financial instruments listed with Nasdaq CSD Iceland on that date.
17 August 2020

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).

  Trade date  SI entered the system Intended settlement date
Monday 17.08.20 17.-18.08.2020 (Equator) 19.08.2020 (Wednesday)
Tuesday 18.08.20 18.-19.08.2020 (Equator) 20.08.2020 (Thursday)
Wednesday 19.08.20 19.-20.08.2020 (Equator) 21.08.2020 (1 Batch) (Friday)
Thursday 20.08.20 24.08.2020 (New system) 25.08.2020 (Tuesday)
Friday 21.08.20 24.08.2020 (New system) 26.08.2020 (Wednesday)
Monday 24.08.20 24.-25.08.2020 (New system)
26.08.2020 (Wednesday)
Tuesday 25.08.20 25.-26.08.2020 (New system)
27.08.2020 (Thursday)
You may also be interested in
Námsstyrkir 2024
4 June 2024
Landsbankinn awards scholarship in the amount of ISK 8 million
Landsbankinn awarded sixteen students with scholarships from the Bank’s Community Fund on 31 May. This was the Bank’s 35th allocation of scholarships which this year amounted to ISK 8 million in total. Over 400 applications were received this year.
28 May 2024
Í never used for logging in to the app or online banking
We would like to warn you of fraudulent messages sent in the name of Í for the purpose of collecting personal information and accessing online banking for individuals. Please note that Í is never used to log in to Landsbankinn's app or online banking.
Skólahreysti 2024
27 May 2024
Team Flóaskóli is winner of Skólahreysti 2024
The teams from Flóaskóli and Laugalækjarskóli elementary schools were equal in points after exciting finals in Skólahreysti (Fit for School) in Mýrin, Garðabær on Saturday 25 May. Both schools received 57.5 out of 72 points! When schools tie for points, their results in the five competition events determines the winner. Flóaskóli scored more points than Laugalækjarskóli in three of the five events and is the winner of Skólahreysti 2024.
24 May 2024
Concerning the advisory opinion of the EFTA Court
Today, the EFTA Court delivered an advisory opinion regarding interpretation of certain provisions of EU directives relating to consumer housing mortgages. The directives have been incorporated into the EEA Agreement and transposed into Icelandic law by acts of Parliament. The opinion was delivered at the request of district courts for two court cases that have been brought against Landsbankinn, on the one hand, and Íslandsbanki, on the other. The cases concern contractual provisions governing the grounds for interest rate changes on housing mortgages.
22 May 2024
No transaction fees or annual fees with Landsbankinn’s Plúskort card
With Landsbankinn’s Plúskort payment card, you pay no transaction or annual fees yet still gather Aukakrónur which can be used to shop with our partners.
17 May 2024
Credit assessment not available from Friday at 17 until Saturday at 15
Due to maintenance, credit assessment will not be available in the Landsbankinn app and online banking from 17:00 on Friday 17 May until 15:00 on Saturday 18 May.
30 April 2024
Landsbankinn changes interest rates
Landsbankinn changes deposit and lending rates, effective as of 1 May 2024.
5 April 2024
Norwegian, Swedish and Danish bank notes
The use of bank notes in Europe is decreasing and especially in the Nordic countries. Increased digitalisation in commerce and trade and the pandemic have accelerated that development. Measures against money laundering have restricted foreign currency trading in cash severely and rules and legislation to prevent money laundering have been tightened, most notably in the Nordics.
Stúlka með síma
27 March 2024
Easter service - the app can come in handy!
Landsbankinn's branches and customer service centre will be closed during Easter and will open again on Tuesday 2 April.
15 March 2024
Landsbankinn lowers interest rates
Landsbankinn lowers interest rates on new, non-indexed housing mortgages with fixed rates.

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies