January 3 (SeeNews) - The Croatian central depository agency, SKDD, said that as of Monday its unit SKDD-CCP started providing clearing services on the local financial market.
“The SKDD-CCP thus becomes, along with the SKDD and the Zagreb Stock Exchange, part of the Croatian capital market infrastructure, linking trading with settlement in its role of central counterparty,” SKDD said in a statement.
SKDD-CCP is the fourteenth central counterparty services provider and the tenth povider of services for transactions with securities in the European Union, it added.
So far, SKDD-CCP has as members 13 market participants, which are also members of the Zagreb bourse.
SKDD-CCP was founded by SKDD in order to transfer financial instruments clearing operations from the SKDD to SKDD-CCP as a central counterparty.