GSS Newsletter May 2016 - Issue 181

Dear Clients, Partners and Friends,

Looking from outside at the sophisticated securities services workflow across borders, banks and intermediaries, Corporate Actions processing is probably the most critical component. End-consumers pay large fees to their bank depositaries and, in return, expect perfect service.

We at UniCredit GSS are delighted to observe how seriously this issue is being taken by legislators – please see our stories from Hungary, Russia and Czechia – because this helps us to perform our role as a sub-custodian with the utmost accuracy.

The combination of having physical presence with the best people on the ground and a standardised, flawless information flow that rules out misinterpretations or delays is in the best interest of our clients and their customers.

In the name of UniCredit’s entire GSS Team,

Sven Trahan
Head of Global Sales & Relationship Management GSS

Highlights

T2S picking up pace
The Corporate Actions National Users Group met with Hungarian regulators and market participants. By Beáta Szőnyi, Senior Relationship Manager, GSS Hungary
› Read more

Tax plans
Capital gains may be deemed taxable income for non-resident investors in Poland. By Kamil Polak, Head of Relationship Management, GSS Poland
› Read more

Streamlined execution of rights
The corporate actions reform in the Russian securities market is moving ahead. By Yuliya Shibukova, Relationship Manager, GSS Russia
› Read more

Recalibration
Czech legislation is to adopt CSDR and provide for improved corporate actions information distribution. By Tomáš Vácha, Senior Relationship Manager, GSS Czech
› Read more

Bond voting
The NSD has developed new voting services for bondholders in Russia. By Yuliya Shibukova, Relationship Manager, GSS Russia
› Read more

Market news

› Bosnia and Herzegovina
Banja Luka Stock Exchange is the most recent member of the SEE Link platform

 

› CEE
The Hungarian and the Romanian Stock Exchanges are exploring ways to cooperate

 

› Russia
The dividend threshold for Russian state-owned companies will be increased

 

› Russia
Thomas Murray maintains the CSD rating at AA- for Russia’s National Settlement Depository

 

› CEE
Residents of Kazakhstan and Slovenia will be able to benefit from new DTT rates

 

Market statistics

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