GSS Newsletter May 2015 - Issue 169

Dear Clients, Partners and Friends,

Our second online issue of the GSS Newsletter reports on a number of new initiatives to improve the securities market infrastructure across Central and Eastern Europe. Some of these may result in additional efforts for market users and sub custodians but, the bottom line stands: they make perfect sense in their intentions to create fairness on the basis of common market standards.

We are pleased to see that securities market legislation in countries with less EU proximity is constantly evolving as well, with a particular focus on the protection of investor rights. We will keep you posted.

Please enjoy reading the newest GSS Newsletter!


Kind regards,

Sven Trahan
Head of Global Sales & Relationship Management GSS

Highlights

Online invitation
NSD’s new system for shareholder meetings will simplify interactions between market participants.  By Ekaterina Konovalova, Relationship Manager Russia
› Read more

Beer tender
Slovenia is moving forward with its privatisation process. Heineken took over 51.11% of Pivovarna Laško. By Vanda Močnik Kohek, GSS Slovenia
› Read more

Control mode
The Hungarian Government aims at tightening control over investment services providers. By Gabriella Kopházi-Tóth, Senior Relationship Manager Hungary
› Read more

Settling for more
Transactions in Russian securities on DVP basis can now be settled using CBR correspondent accounts. By Ekaterina Konovalova, Relationship Manager Russia
› Read more

Standard processing
Polish KDPW continues to pursue the implementation of ISO 20022 standards for corporate actions. By Kamil Polak, Head of Relationship Management Poland
› Read more

Market news

› Austria
The Vienna Stock Exchange reported a lively spring season with a boost in both turnover and equity prices. Market makers and specialists have to keep additional liquidity for longer periods

 

› Bosnia and Herzegovina
The Council of the European Union adopted a decision concluding the Stabilisation and Association Agreement (SAA) with Bosnia and Herzegovina. The Agreement will enter into force on 1 June 2015

 

› Russia
The deadline for Russian tax residents to submit notice of direct and indirect participations in foreign companies was extended to 15 June 2015 (instead of 1 April as originally announced

 

› CEE
A new law intended to simplify procedures and interactions on the securities market is under way. By employing a new IT service, legal formalities will be unified and finally become paperless

 

› CEE
The Republican Central Securities Depository of Belarus held a working meeting on cooperation issues with representatives of its Russian counterparty, the National Settlement Depository

 

› CEE
The international rating agency Standard & Poor’s has affirmed its 'B-' long-term and 'B' short-term sovereign credit ratings for the Republic of Belarus with a 'stable' outlook in April

 

Market statistics

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