Sub-custody guide: Slovenia
Slovenia will join T2S in February 2017. A layered model
will be used for connection due to the prevailing segregated securities account
structure, with a framework platform and schedule for implementation presented
by the CSD in May 2014. Detailed specification of functionalities for static
data and settlement will be prepared by the CSD in the second quarter of 2015.
In the middle of 2014, Swift was chosen as a provider of the
Bank of Slovenia’s communication access to T2S and communication among all
market participants has significantly increased due to the intended use of T2S
cash accounts.
Due to preparations for T2S implementation, amendments to
the Book Entry Securities Act were prepared in Slovenia during 2014, which was
a strong year for M&A activity due to the privatisation of state-owned
companies.
“We expect that this will continue in 2015 and since most of
these companies will be delisted from the stock exchange, this will have some
effect on the sub-custody business,” says Primoz Kovacic, head of GSS Slovenia
at Raiffeisen Bank International.
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