New CDCC Pricelist, Rules and Procedures approved

Zagrebacka Banka d.d.
Croatian Central Depositary and Clearing Company Inc. confirmed newly approved Rules and Procedures will enter into force on 1 March 2019, while new Pricelist will be in effect as of 1 April 2019
Fri, 22/02/2019

Management Board of the Central Depositary and Clearing Company Inc. (CDCC) adopted and Croatian Financial Services Supervisory Agency (HANFA) approved new Pricelist, Rules and Procedures of the CDCC.

The primary objective of modifying the Pricelist is to comply with the provisions of the Capital Market Act, in order to apply the principles of equal status and the provision of services under reasonable commercial conditions for all users as well as to harmonize the applicable fees with the fees of other central depositories within the EU.

The changes within the Pricelist include the following: 

1.     Price increase for the issuers having privileged position with the precedent Pricelist;

2.     Introduction of new fees for certain services (fees for securities transfers in relation to agreements on purchase, donation, etc., reporting fees, corporate actions fees, etc.);

3.     Adjustments of certain fees to the complexity of related activities as the part of the CDCC services (division of fees for calculation and entitlement determination to two new fees:

        a) identification of the entitled positions on a record date; and b) calculation and determination of voting rights/ distribution of securities/ income distribution)

Changes to CDCC Pricelist will not result in changes to the level of fees currently charged by UniCredit Global Securities Services Croatia to its clients.

The Rules and Procedures have been adopted in order to align with the new Pricelist and to introduce some additional features, one of them relates if the transfer between the custody and ordinary account at the CDCC occured due to the change of beneficial ownership or not.

Impact on investors: CDCC confirmed introduction of new Rules, Procedures and Pricelist