Croatian CSD to join T2S in 2023
The Croatian central securities depository (CSD), Središnje klirinško depozitarno društvo d.d. (SKDD), plans to migrate to TARGET2-Securities (T2S) in 2023.
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The ECB and SKDD have signed the T2S Framework Agreement, a first step to prepare the Croatian CSD’s move to T2S.
SKDD offers depository, clearing and settlement services to its participants in the Croatian market. The decision to join T2S will allow SKDD participants to settle securities transactions with users from 20 other European countries seamlessly in central bank money.
T2S is one of the TARGET Services provided by the Eurosystem to help ensure better integration of financial markets in Europe by harmonising securities settlements in central bank money at the pan-European level. In 2021 the platform processed an average of 700,000 securities transactions each day, primarily against euro but also against Danish kroner.