At UniCredit Bulbank, Global Securities Services covers the full range of services including safekeeping, settlement, corporate action and proxy voting, pension fund administration and NAV calculations, advisory functions on financial markets etc. The number one custodian features the biggest leading and cross-border client base
The Bank’s in-house development of IT-solutions, furthermore, reaches the highest level of STP processing. It comprises experts of security services with large-scale and deep market knowledge and a long track record in both, in- and outbound businesses, who consistently provide top services and strong client-oriented approaches.
UniCredit Bulbank is the subcustodian with the most extensive coverage of the CEE region, which is crucial for the large number of domestic clients investing abroad.
Madlen Mineva
Head of Global Securities Services, Bulgaria
+359 2 923 2673
madlen.mineva@unicreditgroup.bg
Borislav Hitov
Senior Relationship Manager
+359 2 923 2670
borislav.hitov@unicreditgroup.bg
Following the approval by the Financial Supervision Commission, Central Depository the CDAD has put into force as of 30 March 2022 its updated Rules to ensure compliance with the Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 (“Regulation (EU) 2018/1229”) and Commission Delegated Regulation (EU) 2017/389 of 11 November 2016. The main CSDR-related changes in CDAD Rules are the following:
Eye on ESG: Green Centre think tank in Bulgaria
The Bulgarian Stock Exchange, being in the heart of the Bulgarian capital market infrastructure, has strengthened its focus on ESG by initiating the establishment of the Green Centre for sustainable finance and energy in partnership with business and academia.
The Bulgarian National Bank has officially announced the approval by the Management Board of the CSDR-related amendments to Ordinance No. 31 of 4 October 2007 on Government Securities Settlement (Ordinance No. 31). BNB has further informed participants in ESROT (The Electronic System for Registration and Servicing of Trades in Government Securities) that the new CSDR system functionalities related to the settlement discipline will be implemented in Production environment upon the promulgation of the updated Ordinance No.
The Central Depository AD (CDAD) has provided the Association of Banks in Bulgaria some preliminary details with regards to the implementation of CSDR requirements related to the settlement discipline:
BNB has informed the participants in ESROT (The Electronic System for Registration and Servicing of Trades in Government Securities) that the CSDR-related testing performed in the period 19 - 21 January 2022 was successful.
BNB has also clarified that the new CSDR system functionalities related to settlement discipline will be implemented in Production environment upon the adoption of the updated Ordinance No. 31 of 4 October 2007 on Government Securities Settlement.
The MoF has published an official announcement elaborating on the start of two projects for the development of the Bulgarian financial market, summarized as follows:
BNB has informed participants in ESROT (The Electronic System for Registration and Servicing of Trades in Government Securities) that CSDR-related testing is planned in the period 17 - 21 January 2022.
The tests with ESROT participants shall include the following new CSD system functionalities related to settlement discipline:
Recycling by BNB of failed settlement instructions within 4 business days
Submitted by Mariotto on
Submitted by Mariotto on
Submitted by Mariotto on
