Clearstream, via its Austrian depository Erste Bank, offers with immediate effect settlement and custody service for Croatian securities.
Clearstream customers are now able to settle domestic free of payment transactions in all type of Croatian securities with counterparties of the Croatian CSD Sredisnja Depozitarna Agencija (SDA) via Erste Bank. There are 37 brokerage houses in Croatia, 16 money market participants and 11 custodian banks. The development of this new link demonstrates Clearstream's commitment to facilitate market openness and to create solutions in response to customer and market needs.
Clearstream's internal instructions via this new link can be settled 'Free of Payment' (FoP) as well as against payment (DvP), but Bridge transactions are excluded from the service.
With this addition, Clearstream's network now reaches 41 domestic markets around the globe: 25 in Europe, 5 in the Americas, 8 in the Asia Pacific region and in South Africa, Australia and New Zealand. It is the widest network of any international central securities depository (ICSD) and enables counterparties in local markets to efficiently settle eligible securities through Clearstream's operational hub in Luxembourg.
Notes to the editors:
Free of Payment (FoP) links enable irrevocable delivery of securities but without the guarantee of payment by the counterparty.
Against Payment (DvP) links enable irrevocable delivery of securities with the guarantee of payment by the counterparty.
Bridge transactions are excluded from the link because Euroclear, Clearstream's partner in the Bridge arrangement, does not have a link with Croatia. The Bridge is an electronic communications link which facilitates the efficient settlement of securities transactions between counterparties in Clearstream Banking Luxembourg and Euroclear Bank.
Clearstream customers are now able to settle domestic free of payment transactions in all type of Croatian securities with counterparties of the Croatian CSD Sredisnja Depozitarna Agencija (SDA) via Erste Bank. There are 37 brokerage houses in Croatia, 16 money market participants and 11 custodian banks. The development of this new link demonstrates Clearstream's commitment to facilitate market openness and to create solutions in response to customer and market needs.
Clearstream's internal instructions via this new link can be settled 'Free of Payment' (FoP) as well as against payment (DvP), but Bridge transactions are excluded from the service.
With this addition, Clearstream's network now reaches 41 domestic markets around the globe: 25 in Europe, 5 in the Americas, 8 in the Asia Pacific region and in South Africa, Australia and New Zealand. It is the widest network of any international central securities depository (ICSD) and enables counterparties in local markets to efficiently settle eligible securities through Clearstream's operational hub in Luxembourg.
Notes to the editors:
Free of Payment (FoP) links enable irrevocable delivery of securities but without the guarantee of payment by the counterparty.
Against Payment (DvP) links enable irrevocable delivery of securities with the guarantee of payment by the counterparty.
Bridge transactions are excluded from the link because Euroclear, Clearstream's partner in the Bridge arrangement, does not have a link with Croatia. The Bridge is an electronic communications link which facilitates the efficient settlement of securities transactions between counterparties in Clearstream Banking Luxembourg and Euroclear Bank.
