Percival Win Project To Deliver DEPEND & HUBBLE To Nasdaq Baltic CSDs

Percival signed an agreement on 19 October to deliver its DEPEND CSD solution to Nasdaq Group’s three Baltic CSDs of Estonia, Latvia, and Lithuania.

Implementation of DEPEND will mean that the three Nasdaq CSDs in the Baltic will have a single integrated platform that is T2S ready and CSDR compliant, and from which they can offer a full range of services to participants, issuers, investors, and other customers.

Percival will also supply its flexible HUBBLE messaging layer to provide integration between internal services within Nasdaq Baltic, as well as providing a common service to participants using ISO messaging.

The Estonian Central Securities Depository are already customers of Percival and implemented DEPEND at the start of 2011, which allowed them to become only the fifth CSD in Europe to fully meet the ESSF-ECSDA matching standards at the end of March, 2012.

DEPEND will be the configurable and highly scalable core system that supports a wide scope of services that include CSD services, trade capture and central registry for T2S and non-T2S, equity and fixed-income instruments, as well as corporate event processing.

Percival’s DEPEND product can handle both omnibus or nominee accounts as well as beneficial owner accounts and its flexible functionality will allow Nasdaq to widen services to its customer base.

DEPEND will also handle cash management, allowing participants to maintain their liquidity accounts directly through the same platform.