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Croatia's SKDD joining ECB's T2S platform

Author Annie Tsoneva
Croatia's SKDD joining ECB's T2S platform maxuser/Shutterstock.com

ZAGREB (Croatia), May 24 (SeeNews) - The Croatian central depository agency, SKDD, said it has signed a framework agreement with the European Central Bank to join the European securities settlement platform TARGET2-Securities (T2S).

Joining the T2S will contribute to the further increase of the stability and efficiency of the capital market and will enable advanced and integrated infrastructure for settlement of securities, SKDD said in a press release last week.

T2S settles cross-border securities transactions on a delivery-versus-payment (DvP) basis. Transactions are made using central bank money, which reduces risk. Currently, 20 European countries use T2S.

“Croatia has agreed with ECB to join T2S in September 2023. We are proud to contribute to the financial stability of the Croatian market and we successfully participate in another achievement of Croatia's strategic aim for further integration into the European financial platform,” said SKDD CEO Dora Matosic.

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