CSDI News
CSDI Launches New, More Efficient Settlement System for Energy Exchange Spot Market Transactions
Central Securities Depository of Iran upgrades a new version of its settlement system for transactions on Iran Energy Exchange spot market.
In line with efforts to improve and upgrade the settlement system for transactions on Iran Energy Exchange spot market, Central Securities Depository of Iran has announced that a new version of the system is now up and running.
The new version of the settlement system (Netflow.csdiran.ir) has replaced the current version (ENEXIS.csdiran.ir) on 24 August, 2024. It is now mandatory that all brokers use the new system.
In this regard, the CSDI organized a webinar in order to familiarize brokers with the new system and answer their questions.
This webinar was held on 20 August, 2024, Director of Planning and Development department, Ali Roostaei, described the details of the system development process and operation method. The webinar also featured a Q&A session on the differences between the news system and its earlier version where Ali Roostaei answered questions raised by brokers.
In the new system, the settlement deadline for domestic and international rings are now set at 3 and 5 business days, respectively, is 3 and 5 working days following the trade day (up to 03:00 p.m.).
In case of default by either side, late settlement penalties will be calculated and applied in accordance with Article 35 of the Guideline on Registration and Depository of Securities and Commodity Eligible for Trade on Iran Energy Exchange.
Additionally, cancelling the transaction at 3 p.m. on the day that marks the deadline for settlement incorporates penalty calculations.
Furthermore, it is no longer possible to waive default penalty after the settlement.
Release Date: 8/24/2024
