BELGRADE (Serbia), Oct. 5 (SeeNews) – Luxembourg-based international central securities depository Clearstream has connected the Serbian capital market to its global network, enabling the settlement of government bonds denominated in dinars, has t -he declares.
This step aims to attract cross-border investments and improve liquidity in the domestic capital market, with Clearstream benefiting from an omnibus account structure, as well as offshore settlement with other bank clients without having to revisit the domestic market. , the company said in a statement. statement Monday.
Raiffeisen Bank International will act as local custodian and operator of Clearstream’s account with the Serbian Central Securities Depository (CSD), the company said.
“We look forward to adding Serbia to our global network, providing our clients with access to domestic capital markets with excellent local partners. This cross-border link creates various new investment and financing opportunities for the domestic market, underpinning our commitment to connect capital markets around the world, ”said Jan Willems, Head of Global Markets at Clearstream.
The link follows the recent inclusion of Serbian Dinar-denominated bonds in a series of major emerging market local currency indices, such as the JP Morgan Emerging Markets Government Bond Index (GBI- EM) and their Government Bond Index (GBI-AGG), which triggered a significant increase in turnover in the secondary market as well as an influx of new buyers of related bonds and investment funds foreigners.
Clearstream, part of the Deutsche Boerse group, provides the post-trade infrastructure for the Eurobond market and services for the securities of 59 national markets around the world.