Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 2

Securities Systems must allow the option of network access on an interactive basis. They should cope with peak capacity without any service degradation, and have sufficient standby capabilities to recover operations in a reasonably short period within each processing day.

1.	How often, over the last twelve months, has the depository been required to:
	Change its published settlement timetable?	The published timetable may be changed in exceptional cases as a result of adapting to the current needs of the market, in particular to the operational difficulties of market participants. In the past year there have not been any significant delays in the settlement process.
	Extend the time of opening for settlement input by users?	There have been a small number of instances where the deadline for receiving settlement instructions from participants was extended.
	Delay start of day processing?	There were no such cases.
2.	Does the depository operate real time or multiple batch processing for settlement?	The National Depository carries out multiple batch processing.
3.	Does the depository allow interactive communication (on line real time) with its users, enabling settlement input and amendment?	No.
4.	Has the depository ever failed to recover an outage within the day or failed to start processing runs for a whole day; and, if so, when did that failure arise and what steps have been taken to prevent a similar event in the future?	There were no such cases.