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News

Croatia launches its new Central Securities Depository platform

Friday 13 October 2023 15:06 CET | News

Central Depository and Clearing Company of Croatia (SKDD) has announced the launch of its new Central Securities Depository platform to modernise its capital markets infrastructure. 

This new platform is set to enable the commencement of operations on the European securities settlement platform, TARGET2-Securities (T2S). The press release states that this launch was realised in partnership with Montran, which signifies an important moment in the evolution of Croatia’s Capital Markets Infrastructure. Moreover, it helps to usher in solutions for sustainable securities market management.  


The new Central Securities Depository platform allows SKDD to efficiently integrate with the Euro Area through T2S, managing the complete lifecycle of dematerialised securities. This includes registration, primary, and secondary market clearing, settlement, and corporate actions processing. It is built with complete support for straight-through-processing (STP) using ISO 20022 messages for its operations. 

Central Depository and Clearing Company of Croatia (SKDD) has announced the launch of its new Central Securities Depository platform to modernise its capital markets infrastructure.

Furthermore, officials from the country state that the successful implementation of these new platforms is a major milestone in upgrading the Croatian securities market infrastructure, and joining it to T2S, contributes to the further development of the stability and efficiency of the Croatian capital market, providing a more advanced and integrated infrastructure for securities settlement. 

About Central Depository and Clearing Company of Croatia (SKDD)  

Founded in 1997, SKDD operates as a central securities depository and a registry of dematerialised securities in Croatia. As per the press release, over the past five and a half years, SKDD has actively worked on projects aimed at further integrating the Croatian capital market with European business practices, laying the foundation for the future development of the Croatian capital market. 

About Montran 

Montran is the provider of Payment and Securities Market Infrastructure solutions, servicing financial institutions with mission-critical installations. The company has over 500 installations for commercial banks, corporates, as well as central banks and infrastructure providers in over 80 countries. 

Together with its global client footprint and regional offices, it has the capability to deliver scalable and comprehensive solutions and services. Its modular technology stack is ISO20022 native, SWIFT gpi compliant, real-time, and can be deployed on-premise, in the cloud, or as a managed service with 24/7 support. 

Source: Link


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Keywords: platform, financial services, financial institutions, banks
Categories: Banking & Fintech
Companies:
Countries: Croatia (Hrvatska)
This article is part of category

Banking & Fintech

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