CSD Prague opens a direct account in Euroclear Bank SA/NV
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CSD Prague opens a direct account in Euroclear Bank SA/NV 05 December 2017Frankfurt Reporter: Drew Nicol
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CSD Prague has opened a direct account with Euroclear Bank SA/NV and initiated the corresponding settlement link as of 1 December.
The account will allow the central securities depositary to access a wider range of services and to have access to many additional foreign markets, according to Euroclear.
Euroclear Bank provides settlement and related securities services for cross-border transactions involving domestic and international bonds, equities, derivatives and investment funds.
Petr Koblic, CEO of Prague Stock Exchange and chairman of CSD Prague, said: “Capital markets are facing multiple challenges in the field of legislation, technology and innovation in general. Euroclear is a leading company which explores new technology solutions and implements them together with its participants.”
“I am glad that we are a member of such a group and that our market can benefit from working with Euroclear.”
Helena ?acká, CEO of CSD Prague, added: “This relationship with Euroclear will provide us with a safe and efficient settlement link permitting us to use all services related to corporate events and the potential to further develop services related to foreign securities.”
Frederic Hannequart, chief business officer of Euroclear group, commented: “We are delighted to welcome CSD Prague as a client of Euroclear Bank. CSD Prague’s decision reinforces the excellent long-term relationship between Euroclear Bank and the Czech market.”
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