GSS Newsletter September 2016 - Issue 185

Dear Clients, Partners and Friends,

September is SIBOS time. As we prepare for our meetings in Switzerland, our primary focus is with the philosophical question of choosing one of our many unique selling propositions which will stand out in an increasingly standardised environment.

The cost of services is determined to grow with the additional staff and systems needed to meet regulatory requirements however it’s a delicate balancing act in trying to pass these costs along, if at all. Technical, as well as basic service standards are pretty much the same across all competitors; it’s only a small portion of each individual provider’s package which makes them stand out and, in this regard, the differentiator has to be worth the extra cost.

Filtering out many other influencing factors, we can certainly point to the fact that, thanks in no small part to our dedication to our markets and our people, it’s the high level of service quality, strong local presence and flexibility which our clients feel most comfortable with.

We will be happy to share more about our plans when we meet in Geneva soon!

Sven Trahan
Head of Global Sales & Relationship Management GSS


Busy summertime for regulators
A summary of the items still to be solved on the way to a functioning regulatory framework by Günter Schnaitt, Head of GSS Austria
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Sharing data
The Ukrainian NSSMC provides access to public securities market data. By Elizaveta Sotnichenko, Head of GSS Ukraine
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Simplified procedure
The NSD presented first results of the Corporate Action reform in Russia. By Ksenia Liskina, Relationship Manager, GSS Russia
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Closing up to CSDR
Will the amended CIT law affect income received from associated companies in Poland? By Mariusz Piękoś, Director Foreign Clients Office, GSS Poland
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GSS Navigator: Zagreb
Culture and heritage fully interweaving in one of Europe’s best destinations. By Jelena Bilusic, Head of Relationship Management, GSS Croatia
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Market news

› Russia
The withholding tax rate on coupon payments from Russian corporate bonds has been reduced


› Hungary
Turbo warrants on the BUX are available again for investors on Budapest Stock Exchange


› Czech Republic
The Czech National Bank assumes that market interest rates will remain at their current very low level


› Bulgaria
According to the latest stress test, the Bulgarian banking system is resistant to external shocks


› Serbia
Serbia’s Securities Commission adopted a new Rulebook on the supervision it is carrying out


› Czech Republic
CDCP Prague unifies entitlement and claim compensation for income from foreign securities


Market statistics

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