Bulgaria: Bulgarian CSDs (CDAD and BNB) to join T2S


Clearstream Banking1 informs customers that Central Depository AD (CDAD) and Bulgarian National Bank (BNB) plan to migrate to TARGET2-Securities (T2S) effective

11 September 2023

The T2S framework agreement has been signed between ECB and CDAD and BNB to prepare the Bulgarian CSDs’ migration to T2S.

Clearstream Banking has an indirect link to CDAD and a direct operated link to BNB, both via Eurobank Bulgaria.

Impact on customers

Clearstream Banking confirms to support any changes to ensure the continuation of the link.

CDAD and BNB confirm that all instruments denominated in EUR currency will become T2S-eligible. All securities which are in BGN currency will remain eligible to settle on the local ESROT platform.

Further information

Further details that impact Clearstream Banking customers will be provided in due course.

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.


1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.