As Croatia prepares to join the European Union (EU) in July 2013, Clearstream this week announces custody fee cuts of up to 45 per cent for the Croatian market, effective from 1 July 2013. Marking Croatia’s accession to the EU with this fee reduction, Clearstream aims to further help attract global investors to the Croatian capital markets.

Clearstream has serviced the Croatian market already since 2005, across many asset classes as part of its extensive settlement and custody network in Europe. It is able to offer custody fee reductions for its Free of Payment (FOP) custody service by working together with Erste Group Bank AG as custodian and local bank agent Erste and SteiermΓ€rkische Bank D.D. who help manage and operate its overall setup and indirect link to the Croatian central securities depository, SrediΕ‘nje klirinΕ‘ko depozitarno druΕ‘tvo d.d (SKDD). Eligible security types for the Croatian market via Clearstream continue to include equities, government, municipal and corporate bonds and commercial papers.

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