Serbia Signs Agreement with World’s Largest Clearing House Euroclear

Source: Tanjug Tuesday, 25.01.2022. 09:18
Illustration (Photo: wrangler/
Yesterday, during a video conference, the minister of finance of Serbia, Sinisa Mali signed an agreement with representatives of Euroclear, one of the world’s biggest financial houses, whereby the conditions of the cooperation to the end of including all of Serbia’s securities in the value system of Euroclear were defined.

Mali expressed his expectation that, during the summer, the Central Securities Depository and Clearing House of Serbia will also formally become part of Euroclear.

– In the summer, the system will be tested and, from January, I expect issues of great volume and a definitive entrance into the Euroclear system, which for us will be a big step forward, on which we have been working for two and a half years – minister Mali pointed out.

On behalf of Serbia, the agreement was also signed by the director of the Central Securities Depository and Clearing House, Ana Jovanovic, and on behalf of Euroclear, the document was signed by the head of Global Capital Markets, Sudip Chatterjee, and the Chief Operating Officer, Stephane Bernard.

– This is a great day for the Government of Serbia, and, I hope, also for our friends from Euroclear. By signing this document, we made the final step toward Serbia’s becoming a part of the Euroclear family, which is the largest clearing house in the world, which gathers an enormous number of the largest and most important investors – minister Mali estimated.

He said that, for Serbia, the step was especially important considering the country’s strategy of issuing government securities and development of capital.

– With this platform, I expect even more competition, because there will be more investors which are interested in investing in our government securities. Greater competition means lower interest rates for our state and, consequently, for the economy and the citizens too – Mali pointed out.

The minister said that this was important for the development of the capital market in the country and for the end-goal of Serbia getting an investment rating in 2022 or in early 2023 at the latest.

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