SKDD-CCP Smart Clear Inc. was incorporated in Croatia with the purpose of creating a central counterparty assuming the responsibilities for clearing of transactions with financial instruments. The scope of its business activities has been defined in line with the European Market Infrastructure Regulation (EMIR). SKDD-CCP Smart Clear Inc. will request from ESMA a license to operate according to the rules of EMIR.
The Central Depository & Clearing Company Inc. (CDCC) will continue to guarantee the settlement in Croatia exclusively with the participants' assets from the Guarantee fund, while SKDD-CCP Smart Clear Inc. will guarantee that with its own capital.
Impact on investors: The Croatian market infrastructure now features a separate clearing agent, which will function in line with the requirements of EMIR.