Introduction of T+2 settlement for Irish Government Bonds from 6 October 2014
29 September 2014 – The National Treasury Management Agency (NTMA) announces that Ireland will extend the introduction of T+2 as the standard settlement period in over-the-counter (OTC) secondary markets to primary market issuance, excluding syndicated transactions, in Irish government bonds with a trade date on or after 6 October 2014.
The Regulation on Securities Settlement and Central Securities Depositories (CSDR), adopted by the European Parliament on 15 April 2014, provides for the harmonisation of the settlement period for transferable securities executed on trading venues across Europe at a maximum of two business days after the trade took place (T+2).
As previously announced Ireland, along with the debt managers of the other 27 EU Member States, is implementing T+2 as the standard settlement period for OTC secondary market transactions in government bonds as of 6 October 2014. Ireland has now decided to apply the T+2 settlement period to primary market issuance, excluding syndicated transactions, as of 6 October 2014.
For further information on Irish government bonds please refer to http://www.ntma.ie