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.
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.
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.
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.
29 April 2019 Changes in ISIN code
Centrálny depozitár cenných papierov SR, a.s. (CDCP) updated its information system and at the same time adopted some changes in allocation of ISIN codes. One of these changes will modify also logic of the ISIN number. This change in allocation of new ISIN codes was implemented on 29 April 2019. The codes allocated before this date will be valid and remain unchanged.
6 March 2019 Cancellation of securities owner account
Up to this day Centrálny depozitár cenných papierov SR, a.s. (CDCP) registers thousands of accounts opened for the security owners. Many of them do not know how to act in case they want to cancel their account. We have prepared instructions how to proceed in the three most frequent cases..
The National Bank of Slovakia granted Centrálny depozitár cenných papierov SR, a.s. (CDCP) authorisation, effective from 28 January 2019, to operate in compliance with valid European legal regulation. The central securities depositories operating in EU will be subject to identical and directly applicable requirements, standards and rules and will provide harmonised scope of services.
17 December 2018 Changes in registration of pledge from January 2019
From 1 January 2019 to register establishment, change and cancellation of contractual pledge in CDCP it won’t by necessary to wait in the office. Newly all requests will be processed in the order as received by CDCP, however in period no longer than 15 working days from receiving, considering specific request. Goal is to make process of registration more effective, as before it was required that the requesting person had to be present during the registration.
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.
The mortgage bonds were replaced by the covered bonds. It is important high-grade financial instrument of the European market, not only in the Slovak Republic. Harmonisation of the issuance conditions for covered bonds should contribute to creation of the capital markets union and also to prudent business practices in the banks. The business entities and potential investors oriented mainly towards safe investments can take advantage of this financial instrument too. Centrálny depozitár cenných papierov SR, a.s. (CDCP SR) is also ready for this new situation.
23 July 2018 CDCP achieved profit for sixth year already
Centrálny depozitár cenných papierov SR, a.s. (CDCP) continues in trend of positive economic results by achieving profit for sixth year in line, which exceeded value of half a million EUR. CDCP realized positive economic result despite decrease in revenues about 2%, compared to the previous year.
27 June 2018 Interest in bonds is growing
Interest of investors in bonds increased almost threefold in last three years. Demand should be rising also in the future. Recovery of the bond market was significantly influenced by legislative changes, not only by growing economy.
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.
07 March 2018 CDCP celebrates first year in European platform T2S
Centrálny depozitár cenných papierov SR, a.s. (CDCP) is part of the EU Single Capital Market for one year already. This change has brought new uniform processes, the Rules of Operation, Scale of Fees, price cut for some services, growth of professionality and credibility for business partners in whole Europe. One year ago CDCP successfully migrated to the European platform
Target 2-Securities (T2S).
The bonds issued by the Slovak government went abreast of bonds of other developed countries which are traded on referential pan-European electronic trading platform MTS (Mercato Telematico Secondario). The platform is operated by the British company EuroMTS Limited.
As of the day 30.1.2018 Centrálny depozitár cenných papierov SR, a.s. (CSD Slovakia) has obtained a certificate from GLEIF, which confirms the successful accomplishment of accreditation process for issuing the LEI codes to legal entities from Slovakia and Czech Republic.
27 November 2017 Co-ownership of securities is lacking benefits
Harmonisation of capital markets of the EU supported by common securities settlement platform Target 2-Securities (T2S) has revealed Slovak specificity unknown to practice in Europe. It concerns registration of fractions of co-owned book-entry securities in several securities accounts.
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.
In compliance with updated standards ISO 10962 and ISO 18774, from this year’s July, Centrálny depozitár cenných papierov SR, a.s. is allocating changed CFI and FISN codes to all active securities registered in the Slovak Republic. More exact and complex information included in the codes shall facilitate and speed up access to important information on securities for participants in the global capital market and shall increase their credibility.
Linking of capital markets within the European Union has become reality and Slovakia can also expect changes in this direction. Centrálny depozitár cenných papierov SR (CDCP) has made the first step in integration into the common European area and it prepares itself for the next one.
Centrálny depozitár cenných papierov SR, a. s. continues to strengthen its position in the market and maintains a positive economic trend of the last couple of years. It concluded financial year 2016 with a profit in the amount of EUR 581.565.
In the area of financial literacy Slovakia is lagging behind the neighbouring countries. More distressing is the fact that knowledge level among young people on how to manage their finances is decreasing every year. This fact was confirmed by recently published international study PISA 2015, in which the students from OECD countries were assessed.
In relation to migration to common technological platform of the European securities depositories – Target 2-Securities (T2S), changes in the Schedule of Fees for services of Centrálny depozitár cenných papierov SR, a.s. took effect. Although some fees for new services were added, there is a considerable decrease of the level of fees for some services.
27 April 2017 Simpler procedures for issuers in the depository
Since 1 April 2017 Centrálny depozitár cenných papierov SR, a.s. (CDCP) is applying new procedures for provision of services to issuers with aim to provide services in more effective and simpler way, and to provide information to issuers more transparently.
During the weekend of 4 – 5 February 2017 Centrálny depozitár cenných papierov SR, a.s. successfully migrated to European platform Target 2-Securities (T2S) and starting from Monday, 6 February 2017 it opens its operations according to new schedule of the settlement system. In compliance with single conditions for all central securities depositories operating on T2S platform, the new Rules of Operation of CDCP and the new Schedule of Fees of CDCP enter into effect on this day. Starting from this day some new services were implemented by the new system of CDCP.