Market Link Guide - Slovenia

31.07.2019

Key features

CSD link as defined under CSDRa

Yes

Type of link

Direct Operated

a. CSD Regulation (EU) No 909/2014 art. 2 (29)


CSD

Account operator

Name

Klirinško depotna družba d.d. (KDD)

Nova Ljubljanska banka d.d., Ljubljana (NLB)

FATCA GIIN

Not available

DQANI4.00000.LE.705

LEI

48510000JZ17NWGUA510

5493001BABFV7P27OW30

Country of incorporation

Slovenia

Slovenia

Account type

FIDUCIARY ACCOUNT

Mirror FIDUCIARY ACCOUNT

Legal Account name / holder

Clearstream Banking SA - Fiduciarni racun (fiduciary account)

Clearstream Banking SA

Operational arrangements

 

Yes/No

Remarks

Settlement in T2S

Yes

 

Settlement free of payment

Yes


Settlement against payment

Yes

Eligible settlement currency: Euro (EUR).

Settlement against payment in central bank money account of CBL/CBL customer

No

CBL holds a cash account at NLB. Against payment settlement in EUR takes place on the NLB DCA opened through the Bank of Slovenia. 

Bridge settlement

Yes

Slovenian government bonds and treasury bills are Bridge-eligible.

Settlement penalty fees

No


Hold and Release

No


Allegements

No


Transaction Linking

No

 

Bilateral Cancellation

Yes

 

Registered securities

No


Transaction Management

Yes


Multi Market Securities

Yes


Lending and borrowing

Yes


Proxy voting

Yes


Investment Funds

No


Liquidity Hub Connect

No


Sale and purchase of rights

No


Repo services

Yes


Market restrictions

No

 

FTT

No


Daily reconciliationYes 
Link eligible for use in Eurosystem credit operationsYes 
Moment of entry of instructionsThe moment of successful validation in T2S.
Irrevocability of instructionsThe moment when the instruction receives “matched” status in T2S.
Finality of instructionsThe moment when instruction receives “settled” status in T2S.

Legal arrangements

The below section is based on the legal opinion obtained by CBL that was issued on 29 April 2019. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.

No insolvency proceedings against the account operator or the CSD

Confirmed

Liability for negligence

Confirmed

Book-entry regime with in rem rights

Confirmed

No entitlement of the account operator/CSD  

Confirmed

Recognition as direct CSD account-holder

Confirmed

Recognition of nominee concept

Confirmed

No right of retention to the account operator/CSD

Confirmed

Segregation of assets at the CSD

Confirmed

No right of use

Confirmed

No upper-tier attachments

Upper tier attachment is not forbidden under local law.

Insolvency of account operator/CSD with no impact on CBL's rights 

Confirmed

Shortfall pro-rated among holders

The laws and regulations of Slovenia do not regulate situations or events of shortfall.

Record keeping period of at least 10 yearsConfirmed

Settlement finality in case of insolvency

Confirmed