News and Press
Croatia Modernizes Their Capital Markets Infrastructure with Montran
SKDD in Croatia launches CSD, their new T2S-enabled Central Securities Depository solution via Montran’s state-of-the-art solutions
NEW YORK CITY, NY / ZAGREB, CROATIA – October 12, 2023 – On September 11, 2023, Croatia’s financial landscape took a bold step into the future. Središnje Klirinško Depozitarno Društvo (SKDD), also known as the Central Depository & Clearing Company of Croatia, announced the successful launch of its new Central Securities Depository (CSD) platform. This new platform enables the commencement of operations on the European securities settlement platform, TARGET2-Securities (T2S).
This milestone achievement realized in partnership with Montran, signifies a pivotal moment in the evolution of Croatia’s Capital Markets Infrastructure. It ushers in cutting-edge solutions for sustainable securities market management. The new CSD platform allows SKDD to efficiently integrate with the Euro Area through T2S, managing the complete lifecycle of dematerialized securities. This includes registration, primary and secondary market clearing, settlement, and corporate actions processing. It is built with best practices and complete support for straight-through-processing (STP) using ISO 20022 messages for its operations.
According to Ms. Dora Matošić, President of the Management Board at SKDD, “The successful implementation of these new platforms is a major milestone in upgrading the Croatian securities market infrastructure, and in joining it to T2S, this contributes to the further development of the stability and efficiency of the Croatian capital market, providing a more advanced and integrated infrastructure for securities settlement.”
“Montran’s state-of-the-art CSD solution and our experience with T2S provide the Croatian market with a proven platform where all stakeholders benefit from full T2S integration, best market practices, harmonized Corporate Action processing and notifications, and the latest ISO 20022 messages,” said Ms. Raegan Esca, Montran Europe General Manager. “We are confident this platform will drive innovation and growth in the Croatian capital market.”
About Središnje Klirinško Depozitarno Društvo of Croatia
Founded in 1997, SKDD operates as a central securities depository and a registry of dematerialized securities in Croatia. Over the past five and a half years, SKDD has actively worked on projects aimed at further integrating the Croatian capital market with European business practices, laying the foundation for the future development of the Croatian capital market. Learn more at www.skdd.hr.
Montran is the leading provider of Payment and Securities Market Infrastructure solutions, servicing the world’s foremost financial institutions with mission critical installations and operations in over 80 countries. Discover more at www.montran.com.