GSS Newsletter December 2015 - Issue 176

Dear Clients, Partners and Friends,

Reviewing the topics we have highlighted in our GSS Newsletter throughout the outgoing year, it becomes evident that most of the capital markets in Central and Eastern Europe covered by UniCredit have made huge efforts to adapt themselves to international regulatory standards. The times of the “Wild East” are gone (at least as far as the financial markets are concerned).

Much of this is induced by tight regulatory schemes adopted by the US and the EU, radiating into areas with otherwise no intention to submit themselves to prescriptions from outside. This may be listed among the positive implications of globalisation.

Susanna Scheffold
Global Head of Securities Services


New appointment in GSS
Stevo Delić has temporarily taken over the position of Head of GSS at UniCredit Bank Serbia. By Julia Romhányi, Head of CEE Global Securities Services
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T2S in everyday life
Customers of GSS Hungary were made familiar with T2S at a dedicated conference. By Beáta Szőnyi, Senior Relationship Manager, GSS Hungary
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Regional approach
BSE-Sofia is analysing costs and benefits of Bulgaria participating in a potential CEE CCP. By Kristina Spasova, Relationship Manager, GSS Bulgaria
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FTT, resuscitated
Will the new Polish government introduce banking and financial transactions taxes?  By Mariusz Piękoś, Director Foreign Clients Office, GSS Poland
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New tax on capital gains
All Croatian investments of private individuals will be subject to a new income tax as of 2016. By Jelena Bilušić, Relationship Manager, GSS Croatia
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Market news

› Bosnia and Herzegovina
A number of new laws and amendments will have an impact on the players in the securities market of Bosnia and Herzegovina


› Russia
Moscow-based National Settlement Depository and Serbia’s Central Securities Depository and Clearing House have signed a memorandum of understanding


› Hungary
As a result of an almost two year on-boarding procedure, CLS settlement in HUF started on 16 November. It is the 18th CLS settlement currency


› Russia
The Central Bank of Russia has approved a list of ten systemically important banks. AO UniCredit Bank is among them


The Central Securities Depository of the Republic of Kazakhstan (KACD) and the Republican Central Depository of Belarus intend to enhance cooperation


Market statistics

› Austria        › Bosnia and Herzegovina        › Bulgaria        › Croatia        › Czech Republic        › Hungary        › Romania        › Russia        › Serbia        › Slovakia        › Slovenia        ›