GSS Newsletter September 2015 - Issue 173

Dear Clients, Partners and Friends,

Governments of all the markets that we are active in (not less than 13) are busy adapting their national legislation in order to align their market conditions with global European standards. No matter whether or not they are ruling an EU member state, all efforts point into a similar direction.

In this GSS Newsletter, just as in so many past issues, our colleagues deliver firsthand reports about a number of legal initiatives in their respective countries. Their embeddedness in the local market community safeguards a constant know-how transfer across our region.

Sven Trahan
Head of Global Sales & Relationship Management GSS

Highlights

License to store pension fund assets
UniCredit Tiriac Bank was admitted as a depository for assets of privately managed pension funds. By Andreea Albu, Relationship Manager, GSS Romania
› Read more

Financial markets law updated
The Acts on Financial Instruments and Anti-Money Laundering/Terrorist Financing are to be amended. By Vanda Močnik Kohek, Relationship Manager, GSS Slovenia
› Read more

Safer trading
A new risk management tool shall improve the safety of securities trading on the WSE. By Kamil Polak, Head of Relationship Management, GSS Poland
› Read more

Shift in responsibilities
The securities market regulator and the NBU are to take over additional responsibilities. By Katherine Yevtushenko, Relationship Manager, GSS Ukraine      
› Read more

Halt the rouble rout
The Central Bank of Russia decided to decrease its key interest rate from 11.5% to 11% p.a. By Ksenia Liskina, Relationship Manager, GSS Russia
› Read more

Market news

› Croatia
Croatia's economic sentiment continues to improve. FDI increased by 40% to EUR 393.4 million in the first quarter of 2015

 

› Russia
Subsidiaries of Russian Joint Stock Companies will not be able to vote for shares of their parent companies any longer

 

› Hungary
Hungary plans to prepay EUR 900 million of the EUR 5.5 billion foreign currency debt expiring in 2016 already this year

 

› Austria
Economic recovery in Austria remains hesitant, says UniCredit Bank Austria’s Chief Economist

 

› CEE
The Kazakhstan Stock Exchange launched a new release of its trading system to support the switch to the ‘T+2’ regime

 

› Slovakia
The Slovak economy is on a good track. Standard & Poor's improved the long-term debt rating of Slovakia in foreign and domestic currency to A+ from A

 

Market statistics

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