Nasdaq CSD Iceland (NCSDI) is planning a transition to a new settlement system on May 25, 2020. With reference to an announcement from NCSDI, which can be seen here, there will be no settlement of trades on that date. May 25, 2020 will thus be declared a non-settlement day. This entails that trades done on Wednesday May 20, 2020 will be settled on Tuesday May 26th (instead of Monday May 25th as per usual). Also, trades done on Friday May 22nd will be settled on Wednesday May 27th (instead of Tuesday May 26th as per usual). For these two dates only, the settlement procedure will be T+3 affecting, among other things, the calculations of accrued interests and indexations factors. Settlement days for all trades executed on other dates will remain the same (T+2) See further explanation in the table below: Weekday Trade date Settlement date Settlement procedure ------------------------------------------------------------ Monday 18.5.2020 20.5.2020 T+2 ------------------------------------------------------------ Tuesday 19.5.2020 22.5.2020 T+2 ------------------------------------------------------------ Wednesday 20.5.2020 26.5.2020 T+3 ------------------------------------------------------------ Thursday 21.5.2020 holiday ------------------------------------------------------------ Friday 22.5.2020 27.5.2020 T+3 ------------------------------------------------------------ Monday 25.5.2020 27.5.2020 T+2 ------------------------------------------------------------ Tuesday 26.5.2020 28.5.2020 T+2 ------------------------------------------------------------ For further information concerning this notice please contact Nasdaq Iceland, telephone +354 525-2850, or e-mail Exchange.ice@nasdaq.com
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