Percival signed a contract today with a new CSD organisation being launched in Iceland.
This new CSD will offer a full range of services to issuers, investors, and market participants and will compete directly with the existing CSD. Percival will deliver their DEPEND CSD solution.
As DEPEND supports T2S connectivity, the new CSD will be able to join T2S in the future should they decide to do so. The new CSD services will offer full beneficial owner securities accounting to investors and issuers and will handle a full range of equity and fixed income instruments, including processing for all necessary corporate events.
The level of services planned for the market by the new CSD will increase in quality and scope over those currently available in the market.
The project to implement DEPEND is expected to come to fruition in 2017.
Source: News, Mondo Visione.