GSS Newsletter April 2015 - Issue 168

Dear Clients, Partners and Friends,

You have just opened the first online version of the GSS Newsletter, the monthly publication of UniCredit Global Securities Services. Its new web-based design will make it easier for you to capture the stories most relevant to you.

All the pieces that appear in the GSS Newsletter are linked to our GSS Webpage, making it easy to jump between new and archived content. Our goal is to provide you with information as efficiently and effectively as possible, understanding full well that these are prerogatives in an increasingly busy environment.

We carefully select our highlight articles to match your interests and provide you with easily accessible in-depth information for each of our markets.

We trust that you will enjoy this new approach and, as always, are happy to receive feedback.


Kind regards,

Sven Trahan
Head of Relationship Management GSS

Highlights

Incompatible intents?
Various directives have been occupying us over the past few years. Now, can there be anything worse than having too many guidelines? By Günter Schnaitt,  
› Read more

Two in one blow
Very soon, the players in the Polish industry as well will be faced with all the challenges resulting from EU regulatory legislation. By Mariusz Piekos,  
› Read more

On the way to the Record Date concept
We have taken a look at the first detailed information released by the CSD. Austria and summed them up for our readers. By Tina Fischer, GSS Austria         
› Read more

Ready for automatic pre-matching
The Polish post-trading industry agreed on common standards that foresee a switch from manual to automatic pre-matching. By Krzysztof Pekrul, GSS Poland
› Read more

Market news

› Bosnia and Herzegovina
Standard & Poor's Ratings Services affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings for Bosnia and Herzegovina (BiH) in March. The outlook is stable

 

› Croatia
In order to further harmonise its legislation with EU regulations, the Croatian Parliament adopted a number of amendments to the Capital Market Act. We have summed up the most relevant changes

 

› Croatia
The Zagreb Stock Exchange is about to start allocating and administering LEI tags. This will allow for clear identification of legal entities that participate in the financial market and thus reduce risk

 

› Hungary
KELER CCP held a clearing member forum, at which events and achievements of 2014 and plans for 2015, KELER CCP’s new recovery concept as well as changes in KELER CCP’s risk management were discussed

 

› Romania
Fitch Ratings has affirmed Romania's long-term Issuer Default Rating at BBB- and local currency rating at BBB.The issuer ratings on senior secured foreign and local currency bonds remained at BBB- and

 

› Russia
Currency regulations shall be liberalised by establishing a simple and transparent mechanism for returning financial assets of Russian residents from abroad. So far, such cash funds transactions were

 

› Russia
Moody's reduced Russia's government bond rating from Baa3/Prime-3 (P-3) to Ba1/Non Prime with negative outlook. Russia's country ceilings for foreign currency debt went down from Baa3/Prime 3 to Ba1/Non

 

› Slovenia
Amendments to the Takeover Act have been prepared by the Ministry for Economic Development and Technology for public discussion. It will implement CAJG standards for corporate actions in line with T2S

 

Market statistics

› Austria        › Bosnia and Herzegovina        › Bulgaria        › Croatia        › Czech Republic        › Hungary        ›         › Romania        › Russia        › Serbia        › Slovakia        › Slovenia        ›         › CEE