Central Depository and Clearing Company Inc. (CDCC) has opened a client account in the Austrian CSD, Oesterreichische Kontrollbank AG (OeKB), where the aggregate amount of securities kept on securities accounts in the system of CDCC is recorded.
With the opening of this account, CDCC has enabled the cross-border settlement of transactions executed between CDCC and OeKB participant members with securities included in both depositories. This new service has already been available to all participant members since 6 February 2013.
Impact on investors: The opening of the link with the Austrian CSD would allow easier access and contribute to the further development of the Croatian capital market. Following the establishment of the link with Clearstream Banking Luxembourg, cross-border settlement has now expanded to a new market in the European Union.