GSS Newsletter April 2018 - Issue 202

Dear Clients, Partners and Friends,

While spring has finally reached us in the region and the trees are already blooming, let us welcome you to the new edition of the GSS Newsletter. We have transformed our publication into a quarterly in-depth source of industry information on our region and we hope that you will like it!

Tapping the vast in-house know-how that UniCredit can boast with, we asked Gregor Hense and Friedrich Schenk from our Global Transaction Banking team in Germany for a round-up of Blockchain’s effects on our business.

Looking back, T2S and the related workflows have been dominating our sector over years. Günter Schnaitt, Head of GSS Austria and prominent looked-after expert on T2S questions, has summarised the current status of the project for this edition of the GSS Newsletter.

As always, our country experts are also providing you with more insight on what is happening in our region, how UniCredit is represented in the different local working groups to improve the processes of the securities services industry for the benefit of our clients.

Let us wish that the spring season will be full of inspiration and anticipation of the tasks waiting for us and we look forward to seeing you at the end of June in our home city, Vienna, for this year’s Network Forum.

Júlia Barbara Romhányi
Global Head of UniCredit Global Securities Services

Highlights

How Blockchain can redefine securities services
Blockchain, a technology designed to render intermediaries moot, slowly sets foot in the financial services industry. By Gregor Hense and Friedrich Schenk  
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T2S: the year after
It has already been more than a year since Austria and the CEE markets went live. A comment from Günther Schnaitt, Head of GSS Austria
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MiFID II implementation further delayed
As parliamentary elections draw near, in Slovenia the law may be delayed until the end of 2018. By Vanda Močnik, Senior Relationship Manager, GSS Slovenia  
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UniCredit takes part in the NFA Depository Council
Natasha Sidorova, Head of GSS Russia, has represented UniCredit in a meeting of the NFA Depository Council. By Daria Fadeeva, Relationship Manager, GSS Russia
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National Stakeholders Group meeting
The Hungarian National Stakeholders Group discussed the latest market developments. A summary by Irén Deli, Senior Relationship Manager, GSS Hungary        
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Market news

› Bulgaria
The amended Bank Bankruptcy Act brings changes to the limitation of powers and governs transactions executed by third parties

 

› Romania
The new BVB CEO presents his strategy to increase the market volume and to achieve the emerging market status for Romania

 

› Russia
A new centralised RUB payment system will be implemented by the Central Bank of Russia this summer

 

› Russia
New NSD developments aim at improving settlement processes and reducing the risk of on-exchange settlement failure

 

› Slovakia
OTC trading has vanished from Bratislava Stock Exchange since the beginning of the year due to new rules

 

› Austria
By forming a joint venture with Limeyard, the Vienna Stock Exchange is set to expand its CEE index expertise

 

› CEE
Several international rating agencies have published favourable assessments for Croatia and the Czech Republic

 

Market statistics

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