CSD Prague opens a direct account in Euroclear Bank SA/NV
CSD Prague had opened a direct account in Euroclear Bank SA/NV and to opened the corresponding settlement link on 1st December 2017.
CSD Prague’s cooperation with Euroclear will enable it to provide a wider range of services and to have access to many additional foreign markets. “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”, says Helena Čacká, CEO of CSD Prague. This step has been welcomed by many CSD Prague participants and could open new opportunities for Prague Stock Exchange.
“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”, says Petr Koblic, CEO of Prague Stock Exchange and Chairman of the Board of CSD Prague.
Frederic Hannequart, Chief Business Officer of Euroclear group, adds: “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.”
Euroclear Bank provides settlement and related securities services for cross-border transactions involving domestic and international bonds, equities, derivatives and investment funds. Serving major financial institutions located in more than 90 countries, Euroclear Bank, based in Brussels, is part of the Euroclear group.