The Custody Department of HVB Bank Ukraine has successfully implemented the Bank Austria Custody System (BA-CS). This system implementation represents another step in the Custody strategy of BA-CA Group to roll out the BA-CS system throughout the entire region.
Currently, the following markets use the BA-CS system: Austria, Czech Republic, Hungary, Romania, Slovakia, Slovenia and Ukraine. In 2007, the BA-CS system will be implemented in Bosnia, Bulgaria and Serbia.
BA-CS is a fully automated, STP-driven, high-volume Custody system, focusing on the needs of foreign financial institutions (Global Custodians and Broker/Dealers).
The successful implementation of BA-CS in the Ukraine will increase the overall quality of our Custody services, will increase the efficiency and the reporting provided.
There was no change of account numbers, nor is any action from clients of HVB Ukraine required. All positions and records were transferred automatically during the implementation.