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14 I Companies & Markets
Clearstream adds Romanian equities to its network
Iulian Ernst in Bucharest
Deutsche Börse's Clearstream international central securities depositary (ICSD) will connect the local Romanian central securities depository (CSD) Depozitarul Central to its network from 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.
bne August 2020
bne:Tech
Contents
Top stories
Russia’s top retail and tech companies join forces to hunt for innovations in the rest of the world 2 Ukraine-born startups raised more
than half a billion dollars in 2019 4 Russian video streaming platforms
gain speed 5 Cloud services take off in Russia 6 SEMrush to SEO success 8
Leaders 9
Russia’s internet giant Yandex
announces growing and more
diversified revenues in 2019 10 Russian telecom major Rostelecom misses on earnings in 4Q19, cash
flow solid 12
Investment 13
World Bank approves $35mn project
to modernise Kyrgyz tax administration and statistical system 13 Romanian online home decoration
retailer raises €3.5mn in bonds 14 Russian billionaires Abramovich, Gutseriev, said to invest in Telegram
crypto project TON 14 Russian fund Da Vinci Capital gets
€30mn from Germany’s DEG to invest
in Ukraine, Belarus and Kazakhstan 15
Fintech & E-commerce 16
Russian e-commerce major
Wildberries to add self-employed
vendor products to offering 16 Russian Dixy retailer to launch online sales with Ozon 17 Valuation of Sistema’s e-commerce
asset Ozon boosted to $1.8bn 17
Telecom 19
Makedonski Telekom’s net profit
up 6% y/y in 2019 19 Romanian telco Digi grows by double
digit rates in 2019 19 Russia could postpone 5G rollout
from 2022 to 2024 20
NIBs 21
“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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Russia’s top retail and tech companies
join forces to hunt for innovations in
the rest of the world
BAs Russia’s retail and tech sectors consolidate, the leading companies are turned their gaze outwards to hunt for
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new technology and innovation.
See page 2
Ukraine-born startups raised more
than half a billion dollars in 2019
In 2019, the venture capital and private equity funding volume for Ukrainian and Ukrainian-founded tech startups reached $544mn (up from $323mn in 2018 and $265mn in 2017), says AVentures Capital’s latest industry report ”DealBook of Ukraine”,
reports Adrien Henni of Ukraine Digital News. See page 4
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