20 January, 2006 - Central Registry of Securities, Banja Luka, became a member of ECSDA - European Central Securities Depositories Association.
The membership in ECSDA - European Central Securities Depositories Association, which was CEECSDA in the past, meant for the Central Registry of Securities international recognition and verification of the existence of this sort of institution in the Republic of Srpska/Bosnia and Herzegovina. This confirms that the Central Registry was established and that it operates on the basis of the laws of a country in which the capital markets function, at that it abides by all international standards and principles related to this area.
The membership in ECSDA and the results accomplished during five years of operation of the Central Registry are only one of the arguments for safety of the investments in domestic capital markets that the members of the Central Registry of Securities, participants in capital markets as well as foreign investors can rely on.
ECSDA and CEECSDA have united as partners in a new enlarged organization
As announced at SIBOS conference in September 2005, the General Assembly of ECSDA, held on 20 January 2006, officially approved the membership of 20 CEECSDA members, and thus, implementing a decision made by these two Associations (ECSDA - European Central Securities Depositories Association and CEECSDA - Central and Eastern European Central Securities Depositories) to join forces toward accomplishing the common goal: provide counsel at the international level on technical, economic, financial, legal and regulatory matters and reduce the risk and arrangements related to settlement processes and other related payments in the area of Europe, all for the benefit of issuers, investors and market participants.
In this way, with its 39 members, the new ECSDA will from now on be able to have broader scope of discussion thus providing much bigger support to European bodies. ECSDA will provide information about its members and especially help its participants in consultations and in terms of defining common positions if necessary.
Clarification
ECSDA was founded in November 1997 as Association of European Central Securities Depositories (CSD). The main goal of ECSDA is to promote harmonization of market practice in Europe in order to support creation of a single European capital market. ECSDA provides solutions and advice on economic, financial, legal and regulatory issues in order to reduce risk and increase efficiency in custody, pre-settlement and settlement operations for securities and related payments across Europe. ECSDA especially promotes process flow that ensures the highest efficiency with low risk, equalized market for all providers of services, common standards to remove barriers to cross border settlement as well as sharing of information on legal, tax-related, regulatory frameworks and market practices with a view to improve harmonization and international cooperation.
03 June 2002 - Central Registry admitted to membership of CEECSDA
The Central Registry of Securities JSC, Banja Luka - Republika Srpska, was admitted to membership of Central and Eastern European Central Securities Depositories and Clearing Houses Association /CEECSDA/.
CEECSDA is an association of registries, depositories and clearing houses of the Central and Western Europe, and its members include the registries and depositories from Bulgaria, Croatia, the Czech Republic, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.
At the General Meeting of CEECSDA held in Prague on 03 June 2002, a decision was made that the Central Registry of Securities JSC Banja Luka - Republika Srpska be admitted to the membership as an associate member.
The registries from the surrounding countries are also the members of the association, i.e. Central Securities Clearing Corporation Ljubljana and Central Depository Agency Zagreb, and since 03 June 2002, Central Registry of Securities JSC Banja Luka - Republika Srpska, Central Depository Agency of Montenegro and The Registry of Securities of the Federation of Bosnia and Herzegovina.
