Centralni registar, depo i kliring hartija od vrednosti Srbije - ProMoney
Centralni registar, depo i kliring hartija od vrednosti Srbije - ProMoney
Centralni registar, depo i kliring hartija od vrednosti Srbije - ProMoney
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CSD AND CLEARING HOUSE OF SERBIA<br />
tije <strong>od</strong> <strong>vrednosti</strong> koje su emitovane na teriroriji <strong>Srbije</strong>.<br />
Hartijama <strong>od</strong> <strong>vrednosti</strong> se mo`e trgovati na<br />
Beogradskoj berzi (BSE) kao i vanberzanski. <strong>Centralni</strong><br />
<strong>registar</strong> <strong>hartija</strong> <strong>od</strong> <strong>vrednosti</strong> obavlja saldiranje transakcija<br />
po osnovu prometa <strong>hartija</strong>ma <strong>od</strong> <strong>vrednosti</strong>, i to kako<br />
saldiranje <strong>hartija</strong> <strong>od</strong> <strong>vrednosti</strong> tako i nov~ano saldiranje.<br />
<strong>Centralni</strong> <strong>registar</strong> <strong>hartija</strong> <strong>od</strong> <strong>vrednosti</strong> obavlja nov~ano<br />
saldiranje preko RTGS sistema k<strong>od</strong> poslova sa <strong>hartija</strong>ma<br />
<strong>od</strong> <strong>vrednosti</strong> koje su denominirane u doma}oj valuti,<br />
kao {to su akcije i druge hartije. Za potrebe saldiranja<br />
deviznih transakcija, <strong>Centralni</strong> <strong>registar</strong> <strong>hartija</strong> <strong>od</strong><br />
<strong>vrednosti</strong> ima devizni ra~un k<strong>od</strong> Nar<strong>od</strong>ne banke <strong>Srbije</strong>.<br />
U ~ijem je vlasni{tvu <strong>Centralni</strong> <strong>registar</strong> HoV?<br />
Zakon o tr`i{tu <strong>hartija</strong> <strong>od</strong> <strong>vrednosti</strong> (~ija primena je<br />
po~ela oktobra 2003.) defini{e CR HoV kao nezavisnu<br />
instituciju i akcionarsko dru{tvo, u kojem treba najmanje<br />
51% akcija da bude u vlasni{tvu dr`ave.<br />
<strong>Centralni</strong> <strong>registar</strong> HoV je usvojio novi Statut i danas<br />
predstavlja samostalnu instituciju i akcionarsko dru{tvo<br />
koje je u potpunoj svojini dr`ave.<br />
Koje su perspektive daljeg razvoja Centralnog registra<br />
HoV?<br />
Najva`nije je posti}i harmonizaciju zakonske regulative<br />
koja bi na uskla|en na~in obavezivala sve u~esnike<br />
na finansijskom tr`i{tu. Tako|e je veoma bitno posti}i<br />
kompatibilnost informacionih sistema svih u~esnika<br />
kako bi se proces vezan za transakcije <strong>hartija</strong>ma <strong>od</strong><br />
<strong>vrednosti</strong> <strong>od</strong>vijao nesmetano i uz {to efektniji u~inak <strong>od</strong><br />
strane svih u~esnika na finansijskom tr`i{tu. Sa<br />
stanovi{ta Centralnog registra HoV <strong>od</strong> velikog zna~aja bi<br />
bilo i povezivanje sa inostranim tr`i{tima. U ovom<br />
poslednjem smislu, <strong>Centralni</strong> <strong>registar</strong> HoV bi trebao<br />
po~etkom januara 2006. g<strong>od</strong>ine da postane ~lanica<br />
me|unar<strong>od</strong>ne organizacije ECSDA (European CSD<br />
Association) koja okuplja centralne registre zemalja<br />
~lanica Evropske Unije.<br />
capital market in the past several years. According to legislation<br />
in effect, foreign investors are allowed to invest in securities<br />
issued in the territory of the Republic of Serbia.<br />
Securities can be traded on the Belgrade Stock Exchange<br />
as well as over-the-counter. The Central Securities Registry<br />
settles accounts based on securities trade: securities as well as<br />
cash settlement.<br />
The Central Securities Registry conducts cash settlements<br />
through the RTGS system, for securities that are denominated<br />
in local currency, such as shares and other securities. For<br />
settling foreign currency transactions, the Central Securities<br />
Registry has a foreign currency account with the National<br />
Bank of Serbia.<br />
Who owns the Central Securities Registry?<br />
The Law on the Securities Market (which came into effect<br />
in October 2003) defines the Central Securities Registry as an<br />
independent institution and share company, where the state<br />
has at least a 51% stake.<br />
The Central Securities Registry has adopted a Statute and<br />
t<strong>od</strong>ay is an independent institution and share company<br />
entirely owned by the state.<br />
What are the prospects for further developing the Central<br />
Securities Registry?<br />
It is of the utmost importance to achieve harmonization of<br />
the legislation, which would be obligatory for all parties<br />
involved in the financial market. It is also very important to<br />
achieve compatibility of the information systems of all the<br />
participants, so that the process of securities transactions<br />
would proceed unobstructed and with the greatest effect for<br />
all the participants in the financial market. From the aspect<br />
of the Central Securities Registry it would be of great significance<br />
to establish links with foreign markets. In this respect<br />
in early January 2006 the Central Securities Registry is<br />
expected to become a member of the European CSD<br />
Association, which brings together the central registries of the<br />
European Union member states.<br />
Intervju / Interview<br />
<strong>Centralni</strong> <strong>registar</strong> hartije <strong>od</strong> <strong>vrednosti</strong><br />
De~anske 14/IV,<br />
11000 Beograd, SCG<br />
tel: +381 11 3331-380,<br />
fax: +381 11 3331-329<br />
www.crhov.co.yu<br />
CSD and Clearing House og Serbia<br />
Decanske 14/IV,<br />
11000 Belgrade, SCG<br />
tel: +381 11 3331-380,<br />
fax: +381 11 3331-329<br />
41
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