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21-06-2018 - Information by BSE-Sofia (Press release by BSE-Sofia)

SEE Link, the joint trading platform of currently seven stock exchanges in Southeastern Europe (SEE), intends to deploy an innovative solution for settling cross-border trades developed by Raiffeisen Bank International (RBI). Representatives of the platforms founding members, the Zagreb Stock Exchange, the Bulgarian Stock Exchange and the Macedonian Stock Exchange, and Skopje-based SEE Link itself signed a Memorandum of Understanding to that end with RBI in Vienna today.
RBIs GSS Operations Center, based in Vienna, will act as settlement engine for trades executed on SEE Link. Its unique solution enables SEE Link to overcome settlement and asset servicing challenges caused by different currencies and legislations across participating countries. This will accomplish the platform's initial idea of integrating regional stock markets without mergers or corporate integration, using only technologies that will allow participating stock exchanges to remain independent but to complement one another as well as the investors easier and more effective access to them via a local broker.
RBI and the central depositories in the region will set up a working council that will meet periodically to address the challenges of cross-border clearing and settlement. RBI, as one of the leading custodian banks in Central and Eastern Europe (CEE), has already linked up with ten central depositaries in the region to provide its clients with easy access to those markets.