The European Central Securities Depositories Association (ECSDA) issues the 2025 and 2026 calendars, which can be found below.

Penalty Calendar 2025

 

2025

End of appeal*

Monthly reporting of penalties​

PFOD creation

Penalty payment

January

15-01-2025

21-01-2025

22-01-2025

27-01-2025

February

14-02-2025

20-02-2025

21-02-2025

26-02-2025

March

14-03-2025

17-03-2025

21-03-2025

26-03-2025

April

14-04-2025

  17-04-2025*

21-04-2025

24-04-2025

May

14-05-2025

20-05-2025

21-05-2025

26-05-2025

June

13-06-2025

19-06-2025

20-06-2025

25-06-2025

July

14-07-2025

18-07-2025

21-07-2025

24-07-2025

August

14-08-2025

20-08-2025

21-08-2025

26-08-2025

September

12-09-2025

18-09-2025

19-09-2025

24-09-2025

October

14-10-2025

20-10-2025

21-10-2025

24-10-2025

November

14-11-2025

20-11-2025

21-11-2025

26-11-2025

December

12-12-2025

18-12-2025

19-12-2025

24-12-2025**

 
End of appeal period: 10th PBD (Penalty Business Day)

- Appeals need to be raised in due time prior to the end of appeal in order to be processed.

Monthly report: 14th PBD
Payment date: 18th PBD

** Monthly report is moved to 13th PBD as 18 April 2025 is a T2S closing day.

**Due to December 24th being a Bank Holiday for DKK, Payment date moves to next business day, December 29th


Penalty Calendar 2026

 

 2026

End of appeal

Monthly reporting on penalties

PFOD creation

Penalty payment

January

15-01-2026

21-01-2026

22-01-2026

27-01-2026

February

13-02-2026

19-02-2026

20-02-2026

25-02-2026

March

13-03-2026

19-03-2026

20-03-2026

25-03-2026

April

14-04-2026

20-04-2026

21-04-2026

24-04-2026

May

14-05-2026

20-05-2026

21-05-2026

26-05-2026

June

12-06-2026

18-06-2026

19-06-2026

24-06-2026

July

14-07-2026

20-07-2026

21-07-2026

24-07-2026

August

14-08-2026

20-08-2026

21-08-2026

26-08-2026

September

14-09-2026

18-09-2026

21-09-2026

24-09-2026

October

14-10-2026

20-10-2026

21-10-2026

26-10-2026

November

13-11-2026

19-11-2026

20-11-2026

25-11-2026

December

14-12-2026

18-12-2026

21-12-2026

24-12-2026*

 
End of appeal period: 10th PBD (Penalty Business Day)

  - Appeals need to be raised in due time prior to the end of appeal in order to be processed.

Monthly report: 14th PBD
Payment date: 18th PBD

*Due to December 24th being a Bank Holiday for DKK, Payment date moves to next business day, December 28th

 

Download the Penalties Calendar for 2025 and 2026 here:

  • PDF

Penalties Calendar 2025

English Version

/sites/default/files/2025-12/Penalty%20Calendar%202025.pdf
Penalties Calendar 2025 English
ffnissen@euron…
  • PDF

Penalties Calendar 2026

English Version

/sites/default/files/2025-12/Penalty%20Calendar%202026.pdf
Penalties Calendar 2026 English
SHFeddersen@eu…

Contacts

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+45 4358 8800

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