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: 鈥淐apital 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.鈥�
鈥淚 am glad that we are a member of such a group and that our market can benefit from working with Euroclear.鈥�
Helena 膶ack谩, CEO of CSD Prague, added: 鈥淭his 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.鈥�
Frederic Hannequart, chief business officer of Euroclear group, commented: 鈥淲e are delighted to welcome CSD Prague as a client of Euroclear Bank. CSD Prague鈥檚 decision reinforces the excellent long-term relationship between Euroclear Bank and the Czech market.鈥�
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