Serbia to Become Part of Clearstream Network

Clearstream, an international central securities depository (ICSD), has included the Serbian capital market in its global network, which will considerably facilitate access to the local securities market for foreign investors.

According to the website of the Ministry of Finance, Clearstream is the first ICSD which will enable foreign investors to directly offset government bonds denominated in dinars. Raiffeisen Bank International AG will have the role of the exclusive local agent for Clearstream’s affairs in the local market.

The bonds of the Republic of Serbia were previously included in the J.P. Morgan Emerging Markets Bond Index, which was a considerable progress in the boosting of the liquidity of the secondary market of government bonds, as well as the arrival of new international foreign investment funds. The inclusion of Serbian bonds in the index is the result of a strong and stable local macroeconomic environment and years of efforts toward the development of the local financial market.

The presence of Clearstream will contribute to the further increase in the participation of foreign investors and an increase in the liquidity in the local capital market.

The Ministry of Finance of Serbia expects this step to create strong connections with global clearing and offsetting systems and to considerably facilitate access to the Serbian capital market for foreign investors.

Clearstream is one of the world’s leading finance institutions for the clearing and offsetting of local and international securities. It is part of the Deutsche Börse Group and provides a post-trade infrastructure for the Eurobond market and 59 local government bond markets worldwide.

Ministarstvo finansija Republike Srbije

Raiffeisen banka a.d. Beograd

Raiffeisen Bank International AG

Raiffeisen bank

Deutsche Börse Group

Clearstream

international central securities depository

ICSD

clearing

offsetting

Serbian capital market

foreign investors

JP Morgan Emerging Markets Bond Index