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EBRD bonds traded simultaneously at BVB and London Stock Exchange

Investors might simultaneously trade the bonds of the European Bank for Reconstruction and Development (EBRD) on the Bucharest Stock Exchange (BVB) and on the London Stock Exchange, by the establishment of direct connections between the Central Depositary and the International Depositary and the international depositary Clearstream Banking Luxembourg.

The connection will become operational starting Thursday and will allow the transfer of bonds issued by the EBRD between Clearstream Banking Luxembourg and the Central Depositary.

The Central Depositary had announced in January 2009, the establishment of direct connection with Clearstream Banking Luxembourg, one of the biggest relevant institutions in Europe, bound to facilitate direct access of participants to the system of compensation-discount and register (RoClear) at the eurobonds traded on international markets. The advantages of this crossbroder connection consists, in the case of participants, in the utilization of the same link with the Central Depositary, used at present for the discount of transactions concluded on BVB.

As regards the advantages for the Romanian market of capital the direct connection with Clearstreaming Banking Luxembourg gives the prerequisites of a major rise in crossborder activity and therefore, of liquidity on the BVB, Central Depositary having as strategic objective the establishment of a modern and flexible infrastructure that will contribute to the development capital market.

 

Sursa: http://www.actmedia.eu

Tags: central depositary exchange stock bvb bonds

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