UniCredit Bank has been approved as a participant in the Slovak CDCP under CSDR. By Maria Gelingerova, Relationship Manager, GSS Slovakia
All members of the Central Securities Depository of the Slovak Republic (CDCP) are obliged to qualify themselves as participants of CDCP on the T2S platform. The participation criteria are set by the CDCP in compliance with Article 33 of the CSDR, which ensures fair and open access to the central depository for all members and legal persons that intend to become participants with consideration of the risks to financial stability and the orderliness of the markets.
The criteria consist mainly of legal, financial, operational and technical requirements for participation with due regard to relevant risks. During the summer months the CDCP collected and reviewed supporting documentation from its members. At the end of October, it was confirmed to UniCredit bank Czech Republic and Slovakia, a.s., Branch of a Foreign Bank, its successful completion of the participation criteria in accordance with the Operational Rules of CDCP.
Now, new participation agreements are to be concluded between members and CDCP and existing membership agreements related to client accounts and holder accounts will be renewed.