Market Link Guide – Serbia
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 March 2023 (supplemented by an Austrian conflict of laws analysis issued on 28 April 2023). 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 |