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 Vienna-based Raiffeisen Bank International (RBI). Its unique solution enables SEE Link to overcome settlement and asset servicing challenges caused by different currencies and legislations across participating countries. Representatives of the platform’s 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.
“RBI is highly interested to see growing activity on the stock exchanges in Southeastern Europe and therefore welcomed the creation of SEE Link in 2014. We are delighted to provide the platform with our settlement and asset servicing solution. Members of participating stock exchanges will in the future be able to trade and settle trades executed on SEE Link. Furthermore, our international clients will gain easy excess to those markets through our GSS Operations Center”, explained Attila Szalay-Berzeviczy, Head of RBI Group Securities Services.
“This Memorandum of Understanding establishes the path for a very important additional piece of the puzzle of our regional order-routing infrastructure. We are very pleased that RBI would offer its services to the regional market participants in the future in addition to the current setup. We believe that this will facilitate the challenging process of cross-border settlement in SEE and further attract new investors from outside the region”, said Ivan Steriev, president of the Supervisory Board of SEE Link and CEO of the Macedonian Stock Exchange.