Update on SKDD-CCP Smart Clear

Zagrebacka Banka d.d.
HANFA assessed the request of SKDD-CCP Smart Clear as complete
Mon, 03/05/2021

As confirmed on the website of the Central Depository & Clearing Company Inc. (SKDD), on 30 April 2021 Croatian Financial Services Supervisory Agency (HANFA) made a Conclusion assessing the request of SKDD-CCP Smart Clear Inc. (SKDD-CCP) to provide the services of a central counterparty as complete for the risk assessment, within the ongoing licencing procedure.

SKDD-CCP expects the licencing procedure to be finalized within the period of the next 6 months, whereby the prerequisites are HANFA’s positive risk assessment report and opinion from the collegium of regulators respectively, to confirm if SKDD-CCP is compliant with all the regulatory requirements. HANFA may grant the licence to SKDD-CCP only if above conditions are met. SKDD is expected to transfer clearing activities to SKDD-CCP within 2 months from the moment the licence takes effect. The whole procedure is expected to be finalized by the end of 2021.

Impact on investors: No direct impact on clients

Related Newsflashes:  SKDD-CCP Smart Clear submitted additional documents to HANFA