SEE Link and RBI to partner for settling cross-border trades
22 June 2018 Vienna
Image: Shutterstock
Southeastern Europe Link (SEE) is due to deploy a solution for settling cross-border trades developed by Vienna-based Raiffeisen Bank International (RBI).
Representatives of the platform’s founding members— the Zagreb Stock Exchange, the Bulgarian Stock Exchange and the Macedonian Stock Exchange, and SEE Link—signed a memorandum of understanding (MoU) to initiate the partnership.
RBI’s Group Securities Services Operations Center will act as settlement engine for trades executed on SEE Link.
RBI has already linked up with ten central securities depositories in ten countries within Central Eastern Europe to provide its clients with easy access to those markets.
According to RBI, its unique solution enables SEE Link to overcome settlement and asset servicing challenges caused by different currencies and legislations across participating countries.
Attila Szalay-Berzeviczy, head of RBI Group Securities Services, said: “RBI is highly interested to see growing activity on the stock exchanges in Southeastern Europe and therefore welcomed the creation of SEE Link in 2014.”
He added: “We are delighted to provide the platform with our settlement and asset servicing solution. Members of participating stock exchanges will in the future be able to trade and settle trades executed on SEE Link. This MoU establishes the path for a very important additional piece of the puzzle of our regional order-routing infrastructure.”
Ivan Steriev, president of the supervisory board of SEE Link and CEO of the Macedonian Stock Exchange, commented: “We are very pleased that RBI would offer its services to the regional market participants in the future in addition to the current setup.”
He added: “We believe that this will facilitate the challenging process of cross-border settlement in SEE and further attract new investors from outside the region.”
Representatives of the platform’s founding members— the Zagreb Stock Exchange, the Bulgarian Stock Exchange and the Macedonian Stock Exchange, and SEE Link—signed a memorandum of understanding (MoU) to initiate the partnership.
RBI’s Group Securities Services Operations Center will act as settlement engine for trades executed on SEE Link.
RBI has already linked up with ten central securities depositories in ten countries within Central Eastern Europe to provide its clients with easy access to those markets.
According to RBI, its unique solution enables SEE Link to overcome settlement and asset servicing challenges caused by different currencies and legislations across participating countries.
Attila Szalay-Berzeviczy, head of RBI Group Securities Services, said: “RBI is highly interested to see growing activity on the stock exchanges in Southeastern Europe and therefore welcomed the creation of SEE Link in 2014.”
He added: “We are delighted to provide the platform with our settlement and asset servicing solution. Members of participating stock exchanges will in the future be able to trade and settle trades executed on SEE Link. This MoU establishes the path for a very important additional piece of the puzzle of our regional order-routing infrastructure.”
Ivan Steriev, president of the supervisory board of SEE Link and CEO of the Macedonian Stock Exchange, commented: “We are very pleased that RBI would offer its services to the regional market participants in the future in addition to the current setup.”
He added: “We believe that this will facilitate the challenging process of cross-border settlement in SEE and further attract new investors from outside the region.”
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