SKDD, the Croatian central securities depository, has launched a central counterparty clearing service in the Croatian market.
The SKDD-CCP service went live on Monday 3 January with 13 clearing member participants, according to a statement from SKDD.
The Croatian Financial Services Supervisory Agency, HANFA, announced on 30 April 2021 indicating that it had approved a request for SKDD-CCP Smart Clear to provide central counterparty clearing services in the Croatian market, subject to additional conditions.
On securing a positive risk assessment from HANFA and approval from the collegium of regulators, SKDD-CCP was given the green light to launch its CCP facility.
With this development, SKDD-CCP became the fourteenth clearing entity licensed to provide CCP services in the European Union.
“The SKDD-CCP becomes part of the Croatian capital market infrastructure, along with SKDD and the Zagreb Stock Exchange, linking trading with settlement in its role of central counterparty,” says an SKDD spokesperson.
