Dear clients,

We inform you that the implementation of a new settlement cycle T+2, instead of the current settlement cycle T+3, will start on 1 January 2015 on the capital market of the Republic of Srpska.

The shortening of the settlement cycle applies to all transactions made on Banja Luka Stock Exchange whose previous settlement cycle was T+3.

The migration to the shortened settlement cycle T+2 will be implemented as follows:

• for transactions made on or before 31 December 2014 – settlement cycle will be T+3,
• for transactions made after 1 January 2015 – settlement cycle will be T+2.