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01.10.2018 | 12:25

Ukraine joins Clearstream

NBU: Ukraine is to get link with international depository Clearstream in 2019

Ukraine will join the system of the international depository Clearstream in 2019. 

It was reported by the National Bank of Ukraine. 

"Clearstream, the international central securities depository of Deutsche Börse Group, is teaming up with the National Bank of Ukraine (NBU) to make Ukrainian government securities eligible in Clearstream’s system. The linkage to the Ukrainian market is scheduled to launch in the first quarter of 2019," the release reads. 

This step will enable settlement of all government bonds denominated in the local currency hryvnia through the international system of Clearstream, improving efficiency at international standards while reducing costs for investors.

It is expected that by making local government securities eligible in Clearstream the demand for Ukrainian government bonds will increase, thereby boosting their liquidity and attractiveness in the international market.

As a result, the Ukrainian government will benefit from a wider range of sources of long-term funding and a lower cost of borrowing.

Moreover, the offering will improve the currency structure of public debt and transmission mechanism of the National Bank monetary policy, while contributing to the further development of the Ukrainian capital markets.

"Enabling settlement of government securities in hryvnia in Clearstream’s system is a significant step towards Ukraine becoming a full-fledged participant of global capital markets. Ukraine’s integration into the world-wide financial system will help to increase the inflow of foreign capital to the Ukrainian economy and will strengthen its financial stability," Yakiv Smolii, Governor of the National Bank of Ukraine, noted. 

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