One unified central securities depository shall operate and provide its services in Slovakia. The two securities depositories currently operating in Slovakia, namely Centrálny depozitár cenných papierov SR, a.s. and Národný centrálny depozitár cenných papierov, a.s. declared their intention to take mutual steps towards unification of both depositories by signing a Memorandum of Understanding and Cooperation that was co-signed by their shareholders the Bratislava Stock Exchange and the Slovak Guarantee and Development Bank. The unified depository shall be compliant with all applicable requirements of the European legislation and international standards.
All involved parties guarantee that the entire process, including the technical solution, shall have no impact on the proper and continuous provision of services by both central securities depositories. Equally, all rights of participants, clients including foreign clients, as well as of other stakeholders to the capital market of the Slovak Republic and of the contractual partners shall be safeguarded to full extent during the process. The unification will have no impact on services that will be fully provided by the depositories and in compliance with effective regulation during the entire transaction process.
The entire transaction shall be executed with the professional assistance of advisory firm KPMG, under the supervision of the National Bank of Slovakia and the Ministry of Finance of the Slovak Republic and also with involvement of participants of the Slovak capital market. Despite the complexity of the unification process, the abovementioned supervision shall guarantee that the stability of the Slovak capital market shall not be influenced in any way. Parties to this transaction would like to reassure the participants of the Slovak capital market and all partners that the purpose of this transaction is to create a single, modern central securities depository which shall operate and provide its services in the Slovak Republic on a highly professional level.
