COVID-19 and Trump’s indifference helped human rights abusers in 2020
Durov rejects Western funds’ offer to buy 5%-10% of Telegram with $30bn valuation
Belarusian government sees $2bn of withdrawals, issues $580mn worth of bonds in 2020
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New Ukrainian VC firm QPDigital aims to invest up to $100 million in digital startups
EBRD investments reach record €11bn in pandemic-struck 2020
FPRI BMB Ukraine: Most Ukrainians are optimistic about 2021 – poll
OUTLOOK 2021 Lithuania
EBRD says loan to Estonia’s controversial Porto Franco project was never disbursed
Estonian premier quits after Tallinn development scandal
Top Centre Party official suspected of corruption in Tallinn real estate scandal
Czech Pirates and Mayors approve final coalition agreement for 2021 elections
OUTLOOK 2021 Czechia
BRICKS & MORTAR: Rosier future beckons for CEE retailers after year of change and disruption
Romanian tech entrepreneurs expand into banking sector
OUTLOOK 2021 Hungary
Hungarian government remains silent after Capitol riots
Storming parliaments: New Europe's greatest hits
World Bank expects modest recovery for Europe and Central Asia in 2021
FDI inflows to CEE down 58% in 1H20 but rebound expected
OUTLOOK 2021 Slovakia
Slovakia to invest €1.2bn in digitisation
BALKAN BLOG: The controversial recipe for building up Albania
Heavy flooding causes chaos in parts of Southeast Europe
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OUTLOOK 2021 Albania
Kyiv accuses Bosnian President Dodik of lying about icon gifted to Russian foreign minister
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Sofia-based LAUNCHub Ventures holds first close of new fund on €44mn
ING THINK: Growth in the Balkans: from zero to hero again?
OUTLOOK 2020 Bulgaria
Labour demand down 28% y/y in Croatia in 2020
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OUTLOOK 2021 Kosovo
Arrera Automobili aims to launch Albania’s first supercar
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OUTLOOK 2021 Montenegro
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OUTLOOK 2021 North Macedonia
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OUTLOOK 2021 Serbia
Slovenia’s government to release funds to news agency STA after EU pressure
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Akbank takes over Istanbul's Palladium Atasehir shopping mall
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Armenia prepares to ban Turkish imports
COMMENT: Record high debt levels will slow post-coronavirus recovery, threaten some countries' financial stability, says IIF
Russia, Kazakhstan pushing for oil production increases on the back of coronavirus vaccine-fuelled oil price optimism
OUTLOOK 2021 Georgia
Georgia’s political kingpin Bidzina Ivanishvili quits politics
Modern-day “Robin Hood” inspires Georgians drowning in debt
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TEHRAN BLOG: Who’s more credible? Johnson backing Trump’s Nobel chances or Iran applauding arrest warrant for US president?
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OUTLOOK 2021 Kyrgyzstan
Mongolia's winter dzud set to be one of most extreme on record says Red Cross
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Mongolia fears economic damage as country faces up to its first local transmissions of coronavirus
Mongolia in lockdown after suffering first local coronavirus transmissions
OUTLOOK 2021 Tajikistan
China business briefing: Not happy with Kyrgyzstan
OUTLOOK 2021 Turkmenistan
Turkmenistan: How the Grinch stole New Year
Turkmenistan: The dammed united
COMMENT: Uzbekistan is being transformed, but where are the democratic reforms?
OUTLOOK 2021 Uzbekistan
Uzbekistan’s Makro positions itself for growth in a more competitive market
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Deutsche Börse's Clearstream international central securities depositary (ICSD) will connect the local Romanian central securities depository (CSD) Depozitarul Central to its network at the beginning of July.
The move will provide easier access to the Romanian capital markets for international investors by adding a new domestic link to enable settlement and safekeeping of Romanian equities.
“This has been a requirement that we have heard more and more often in recent years from foreign investors but also from Romanian issuers, especially after the inclusion of Romania on the watch-list for promotion to the secondary emerging market status by one of the leading global index providers, FTSE Russell,” Silvia Buicanescu, CEO at Depozitarul Central, said.
This step will enable settlement and safekeeping of all equities denominated in Romanian leu through Clearstream’s international infrastructure, improving efficiency with international standards while reducing costs for investors.
Clearstream has already been present in the Romanian market since 2010 and was offering government and municipal bonds. The platform added local corporate bonds to its ICSD infrastructure last month.
When Clearstream connects local Romanian equities to its international network, BRD Group Societe Generale will act as local depository partner for Clearstream, connecting in turn to Depozitarul Central.
“Being able to enter emerging markets via an internationally established post-trade environment is very attractive to investors all over the world. Romania has been already a long-time part of our global network. Clearstream now making Romanian local equities available to international investors will add to the market’s attractiveness, increasing demand and thus liquidity of Romanian equities. The local market will benefit from a wider range of sources of funding, contributing to its further development,” commented Jan Willems, head of global markets at Clearstream.
Luxembourg-headquartered Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 58 domestic markets worldwide. With around €14 trillion in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities.
Hooking into the Clearstream international payment and settlement system has been a milestone for countries in emerging Europe that has typically been followed by a sharp upturn in international investment.
Russia put this reform into place in 2012, two years after Romania, and saw the share of foreign investors in its local bonds explode.
Ukraine only linked up to Clearstream in May 2019, which was followed by the return of international investors to the local bond market. In all, bond traders invested more than $4bn into the local market, driving yields down from 19% at the start of the year to around 13% by the end.
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