According to the information published on the website of the Business Register of the District Court Bratislava I, a new securities depository named Národný centrálny depozitár cenných papierov a.s.. (NCDCP) was established on 1 November 2014 with an equity capital of EUR 8.4 million. The registration must have been preceded by the depository receiving the appropriate license by the National Bank of Slovakia - however no official information has been announced to the market in this respect.
The sole shareholder of NCDCP is the Slovak Guarantee and Development Bank (Slovenská záručná a rozvojová banka, SZRB). As we have already announced at the beginning of July, NCDCP should operate based on full membership concept in line with international market standards and will become a competitor for the currently functioning CDCP.
The scope of activities of the new depository will include primarily the following: registration of issues of book-entry securities, administration of lists of shareholders (including for paper-form registered shares), administration of securities accounts, clearing and settlement of transactions in securities, administration of registers of pledges over securities, paying agent services.
Impact on investors: The second securities depository in Slovakia was legally established and should start operating from 2015. The operations of the current CDCP remain unchanged. Both depositories will operate in parallel.
Related Newsflash: Establishment of Second CSD