Market Link Guide – Serbia

15.07.2024

Key features

CSD link as defined under CSDRa

Yes

Type of link

Indirect link

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

Operational arrangements

CSD

Custodian

Name

Central Securities Depository and Clearing House

Raiffeisen Bank International AG

FATCA GIIN

N/A

28CWN4.00000.LE.040

LEI

N/A

9ZHRYM6F437SQJ6OUG95

Country of incorporation

Republic of Serbia

Austria

Account type

Dedicated Omnibus account

Dedicated Omnibus account under a Nominee structure

Legal Account name / holder

Legal Account name: RBI Omnibus for CBL 

Legal Account Holder: Raiffeisen Bank International AG 

Clearstream Banking S.A.

Yes/No

Remarks

Settlement free of payment

Yes

NCBO portfolio transfers only

Settlement against payment

Yes

NCBO and CBO portfolio transfers

Settlement against payment in central bank money

No

 

Bridge settlement

No

 

Shaping facility

No

 

Partial settlement

No

 

Settlement penalty fees

No

 

Pre-matching

No

 

Back-to-back processing

No

 

Allegements

No

 

Automatic compensation

No

 

Registered securities

Yes

In the name of Raiffeisen Bank International AG for its client. (Omnibus structure)

Multi Market Securities

No

 

Lending and borrowing

No

 

Proxy voting

No

 

Investment Funds

No

 

Liquidity Hub Connect

No

 

Sale and purchase of rights

No

 

Repo services

No

 

Market restrictions

No

 

FTT

No

 

Daily reconciliation

Yes

 

Bilateral cancellation

No

 

Settlement finality

Transactions settled in the books of the CSD are final and irrevocable.

Legal arrangements

The below section is based on the legal opinion obtained by CBL that was issued on 30 April 2024. 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

N/A

Recognition of nominee concept

Nominee concept not recognised under local law.

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

Confirmed

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

Confirmed

Shortfall pro-rated among holders

Confirmed

Settlement finality in case of insolvency

Confirmed