The security issues form the basis for existence and development of the capital market in Slovakia. Centrálny depozitár cenných papierov SR (CDCP) in previous years noted increasing interest of corporate issuers to issue debt securities. It is expected that situation will change due to this exceptional situation caused by COVID-19 pandemic, what will affect structure and value of issued securities. That is one of the reasons why CDCP decided to amend the scale of fees as regards the registration of security issues, in attempt to stimulate and encourage the issuers to issue book-entry securities, mostly debt securities.
15 October 2020 The bonds are more attractive to raise capital
Unsteady economic situation and business restart require quick, simple and feasible solutions. Nevertheless, help to recover the business activity does not have to lie only in hands of the government, or a bank. According to results from survey realised by CDCP SR, acceptable solution for companies appears to be also issuing of bonds, which often are more attractive and accessible option for some businesses than credit financing.
Centrálny depozitár cenných papierov SR, a.s. hereby in accordance with Art. 2 Sec. 2.1., Part VIII of the Rules of operation announces that from 05.10.2020 the new rules within T2S (change request T2S_0691_URD) will be applied for the automatic cancellation of matched instructions. The specific rules are defined in Article 30, Part VI. of the Rules of operation.
Supporting innovative companies and start-ups is natural role of the central securities depositories in developed countries. And that is one of the reasons why Centrálny depozitár cenných papierov SR, a.s. (CDCP SR) have decided to cooperate with a business accelerator PERRY TALENTS. From the other reasons we can mention development of business environment, increasing of effectivity and competitiveness of the Slovak Republic. Smart solutions, automation, robotization or artificial intelligence are the future of coming years not only in Slovakia.
The last year’s economic results of Centrálny depozitár cenných papierov SR, a.s. (CDCP SR) surpassed all reasonable expectations. CDCP SR achieved all the time highest profit which outgrew results of the previous year by more than 40 percent. The profit that reached value of almost 0.8 million EUR, can be attributed mainly to a higher activity of the issuers, to growth of the revenues and decline in the costs.
30 June 2020 Annual Report – year 2019
Centrálny depozitár cenných papierov SR, a.s. would like to inform you that it has published the Annual Report for Year 2019.
Due to implementation of T2S Change Request T2S_0691_URD a new parameter for automatic cancellation shall be applied to all matched settlement instructions in T2S from 5 October 2020, when the value of this parameter will be changed from unlimited period to 60 business days. Similar automatic cancelation of instructions has already been applied to instructions not matched during 20 business days. By this change the automatic cancellation will be expanded also to the matched instructions.
11 March 2020 Securities – how to inherit them?
The consequences of voucher privatisation have not diminished in Slovakia even today. During the privatisation many citizens invested into shares, more precisely into securities issued by the Slovak businesses, firms or companies. In the course of time a number of securities lost their market value and citizens transferred them to the state without any consideration. However, the remaining securities, often valuable, are still held on accounts in Centrálny depozitár cenných papierov SR, a.s. (CDCP). As the voucher privatisation took place almost a three decades ago, many of us inherited securities acquired during the privatisation. These people ask themselves a sensible question how to acquire such inheritance, but at the same time to avoid neglecting anything.
21 February 2020 Slovakia shall have one unified central securities depository
One unified central securities depository shall operate and provide its services in Slovakia. The two securities depositories currently operating in Slovakia, namely Centrálny depozitár cenných papierov SR, a.s. and Národný centrálny depozitár cenných papierov, a.s. declared their intention to take mutual steps towards unification of both depositories by signing a Memorandum of Understanding and Cooperation that was co-signed by their shareholders the Bratislava Stock Exchange and the Slovak Guarantee and Development Bank. The unified depository shall be compliant with all applicable requirements of the European legislation and international standards.
13 February 2020 Security issuers may update data free of charge
Each issuer of securities is obliged to regularly update data on a company in register of Centrálny depozitár cenných papierov SR, a.s. (CDCP SR) which, in compliance with valid regulation, is registering securities. Omitting of this duty may cause several risks that could affect not only the issuers but also the account owners whose securities are registered on accounts in the central securities depository. Therefore CDCP SR shall enable to the issuers to make changes on their companies related to the Business Register free of charge.
15 January 2020 Now also CDCP shall inform on changes in corporate action events
Centrálny depozitár cenných papierov SR, a.s. (CDCP) enhances information services for the participants as it adheres to the European market standards. Due to implemented changes issuers will be able to transmit announcements on changes in basic corporate actions also via the information system of CDCP.
15 January 2020 Notice on cancellation of empty owner accounts
Centrálny depozitár cenných papierov SR, a.s. (CDCP) automatically cancelled owner accounts on which no security remained registered after the transaction of shares due to exercise of squeeze-out right with respect to the minority shareholders of the company Slovnaft, a.s. in December 2019. The automatic cancellation of owner accounts is regulated in the Act on Securities and in the Rules of Operation of CDCP and applies to so called non-allocated accounts, i.e. the owner accounts opened with the central depository by 30 September 2015 (including) for natural persons or legal entities. Therefore the owners of non-allocated accounts don’t have to request CDCP to cancel the empty account.
17 December 2019 Amendment to the act has simplified the right of squeeze-out
Change in legislation has simplified processing of the right for squeezing-out the minority shareholders. Slovnaft, a.s. was amongst the first who exercised this right with MOL Nyrt. becoming its sole shareholder.
Duty to keep a list of shareholders of registered paper-form shares is imposed on companies by the Act on Securities and also the Commercial Code. Number of companies is not compliant with this obligation, not being aware of serious legal and practical consequences for company and its shareholders.
In the course of the first half of the year 2019 Centrálny depozitár cenných papierov SR, a.s. (CDCP) registered 82 new issues of book-entry securities to issuer’s registry in the total nominal value of 5.5 billion EUR.
27 June 2019 CDCP evaluates year 2018
Centrálny depozitár cenných papierov SR, a.s. in the year 2018 followed positive trend of economic results achieved in previous years. Profit of the company in the year 2018 exceeded amount of half a million EUR after taxation.
27 February 2019 Access to the settlement system for MTS S.p.A.
Centrálny depozitár cenných papierov SR, a.s. granted access to its securities settlement system to the other market infrastructure MTS S.p.A. with effect from 25 February 2019. Settlement of trades made at MTS Slovakia shall be performed by the CDCP participants under conditions set in the Rules of Operation of CDCP.
„Granting the access to MTS S.p.A. relates to decision to close certain markets operated by the company EuroMTS Limited in the United Kingdom and open new markets in Italy operated by MTS S.p.A from 01 March 2019. This is consequence of decision of the United Kingdom to exit the European Union. At the present all necessary steps were taken to ensure continual provision of services and functioning of the market“, told Peter Nagy, the Director of the Operation Division of CDCP.
The National Bank of Slovakia granted Centrálny depozitár cenných papierov SR, a.s. (CDCP) authorisation to operate in compliance with valid European legal regulation with the effect from 28 January 2019. Granted authorisation relates to new European legislation harmonising requirements for organisation and certain aspect of operation of central securities depositories established in the European Union. CDCP as a central depository operating in EU is subject to identical and directly applicable requirements, standards and rules and shall provide harmonised scope of services.
List of provided CDCP services under the authorisation granted by the NBS:
I. SECTION A
Core services of central securities depositories
1) Initial recording of securities in book-entry system („notary services“).
2) Providing and maintaining securities accounts at the top tier level („central maintenance service“).
3) Operating a securities settlement system („settlement services“).
II. SECTION B
Non-banking-type ancillary services of CSDs that do not entail credit or liquidity risks
Service provided by CSDs that contribute to enhancing the safety, efficiency and transparency or the securities markets:
1) Services related to the settlement service, such as:
• settlement matching, instruction routing, trade confirmation, trade verification.
2) Services related to the notary and central accounts maintenance services, such as:
• services related to shareholders’ registers,
• supporting the processing of corporate actions, including tax, general meeting and information services,
• new issue services, including allocation and management of ISIN codes and similar codes,
• instruction routing and processing, fee collection and processing and related reporting.
3) Establishing CSD links, providing, maintaining or operating securities accounts in relation to the settlement service, collateral management, other ancillary services.
4) Other services:
• providing information required by legal regulation,
• providing information, data and statistics to market/census bureaus or other governmental or inter-governmental entities,
• keeping of pledge registry,
• keeping of special registry of collateral transfers,
• keeping of list of shareholders of registered paper-form shares,
• service relating to allocation and management of LEI codes.
You can read the press news "NBS granted to CDCP authorisation to operate as a central securities depository " HERE.
7 December 2018 CDCP under special tax regime
The Tax Procedure Code introduced the tax reliability index applicable from 01 January 2018; the index shall be assigned to the tax entities based on carrying out their obligations towards the Financial Administration under the Tax Procedure Code or special regulation. Based on the assessment the Financial Administration shall determine reliable tax entities classified for special tax regimes (benefits). The Tax Office sent to Centrálny depozitár cenných papierov SR, a.s. a letter to inform it on compliance with the requirement to be become entitled to a special tax regime applicable from 01 January 2019.
14 October 2018 Special public holiday
Based on the adopted act, Tuesday 30 October 2018 is special public holiday when the Slovak Republic shall commemorate centenary anniversary of the Declaration of the Slovak Nation. Accordingly we would like to inform you that settlement of DvP/FoP instructions and electronic placement of applications for services to the information system of CDCP will be available on this day.
Amended schedule of CDCP operating days for the year 2018 is published on the web site of CDCP: https://www.cdcp.sk/en/operating-days-and-operation-day-schedule/
8 October 2018 With invalid LEI code it won’t be possible to make a trade
The entities are obliged to identify themselves with the Legal Entity Identifier code (LEI) when issuing book-entry securities and at realisation and reporting of certain financial transactions. In the Slovak Republic the LEI codes are allocated by Centrálny depozitár cenných papierov SR, a.s. (CDCP). Assigned LEI code ensures unique identification of entities worldwide and high quality of referential data.
20 March 2018 New participants at CDCP
Centrálny depozitár cenných papierov SR, a.s. (CDCP) admitted three new foreign participants to its securities settlement system. The Austrian Erste Group Bank AG and international central securities depositories Euroclear Bank SA/NV based in Belgium and Clearstream Banking S.A. based in Luxemburg have been added to the list of participants since the beginning of this year.
14 February 2018 CDCP has received the accreditation of the GLEIF to issue LEI codes
Centrálny depozitár cenných papierov SR, a.s. (CDCP) has successfully completed the accreditation process and 30.01.2018 has received a certificate of the Global Legal Entity Identifier Foundation (GLEIF), the body responsible for the Global LEI system, confirming successful accreditation for issuing LEI to entities in the jurisdiction of the Slovak republic and Czech republic. By accreditation CDCP has become from Pre-LOU to officially LOU (Local Operating Unit) and each Pre-LEI has become to LEI. Since the accreditation, CDCP has been changed its terms for assignment, renewal and transfer LEI and these services are subjects in the Terms and Conditions. For more information please see: https://www.cdcp.sk/en/lei.
11 October 2017 The issuers of securities shall need the LEI code from November
From 1 November 2017 the entities issuing book-entry securities issues (securities) have to identify themselves with the LEI code. The LEI code shall serve for identification of entities – the issuers in connection with application of new EU legal regulations and creating a link between the issue identifier ISIN and the issuer identifier LEI. Centrálny depozitár cenných papierov SR, a.s. would like to draw attention to this obligation.
9 October 2017 Submission of application for authorisation
On 28 September 2017 Centrálny depozitár cenných papierov SR. a.s. (CDCP) submitted the application for authorisation according to Regulation (EU) No. 909/2014 (CSDR Regulation) to the National Bank of Slovakia as a competent authority pursuant to mentioned regulation. The scope of services pursuant to submitted application for authorisation is adequate to the scope of services CDCP provides today. In order to harmonise the rules and procedures of CDCP with requirements of CSDR Regulation several operational, organisational and technical adjustments were needed. You can read more informations HERE.
31 July 2017 CDCP in the Slovak Radio
The Managing Director of CDCP SR Martin Wiedermann was guest in the radio programme of the Slovak Radio Citizen’s Club on 24 July 2017. Topic of the programme was Investment literacy. He and another guest of the reporter Marcela Jedinakova were discussing low level people have in area of financial or investing literacy and analysed possibilities how to improve present situation. In the programme sounded particular advice on investment possibilities in Slovakia and how to minimise potential risks. You can listen to whole programme if you go to attached link: https://www.rtvs.sk/radio/archiv/11136/717415
14 June 2017 Approval of Rules of Operations of Centrálny depozitár cenných papierov SR, a.s. and related executory decrees
On 13 June 2017 Centrálny depozitár Cenných papierov SR, a.s. (CDCP) approved the new wording of the Rules of Operations of Centrálny depozitár cenných papierov SR, a.s. (Rules of Operations) that became valid on the day of its approval by the Board of Directors of CDCP i.e. on 13 June 2017 and that becomes effective on 3 July2017.
Along with new wording of the Rules of Operations new executory decrees to these Rules of Operations were approved – Executory Decree No.1 – Communication of participant with information system of CDCP, Executory Decree No.2 – Details of procedure for provision of services during the operational fail of entity to which the access was granted and Executory Decree No.3 – Application for access and procedure of assessment of participation criteria.