NBS: Euroclear has joined NBS RTGS system

BELGRADE - Euroclear Bank SA/NV, a leading global provider of financial market infrastructure services specialising in the clearing and settlement of government securities, has become a participant in the National Bank of Serbia (NBS) RTGS payment system, the NBS announced on Monday.

"Euroclear Bank has also become part of the securities settlement system operated under the supervision of the Central Securities Depository and Clearing House," the NBS said in a statement.

"This has effectively enabled the clearing and settlement of cash and securities flows through a reputable international institution, as a result of many years of work and commitment by domestic institutions aimed at developing Serbia’s capital market.

The inclusion of dinar-denominated government bonds in the Euroclear Bank system represents a major step forward in the further development of the domestic financial market. We expect that easier access for a broad range of foreign investors to dinar-denominated government bonds will contribute to greater liquidity and efficiency in the Republic of Serbia’s bond market, thereby broadening the investor base and potentially creating more favourable financing conditions for the country," the central bank also said.

"Euroclear is a reputable international securities settlement system operator headquartered in Belgium, providing clearing and settlement services for transactions in domestic and international securities to investors worldwide.

Euroclear joined the NBS RTGS payment system as part of the project to integrate the Republic of Serbia’s dinar-denominated government securities into the Euroclear International Link (i-Link). This represents an important step in linking the domestic financial infrastructure with the international securities clearing and settlement system.

By participating in the NBS RTGS payment system, Euroclear is connecting to the domestic infrastructure for the execution of payment transactions in dinars, thereby ensuring the efficient and secure execution of transactions related to trading in dinar-denominated government securities.

This project represents another step towards greater openness and international accessibility of the Republic of Serbia’s financial infrastructure and government securities market," the NBS also said.