Clearstream To Cut Custody Fees For Croatia

As Croatia gears up to join the European Union (EU) next month, Clearstream announced that it has cut custody fees up to 45% for the Croatian market, effective July 1. Eligible security types for the Croatian market via Clearstream include equities, government, municipal and corporate bonds and commercial papers.

Clearstream has serviced the Croatian market since 2005. It offers custody fee reductions for its Free of Payment (FOP) custody service by partnering with Erste Group Bank AG as custodian and local bank agent Erste and Steiermärkische Bank D.D., who helps manage and operate its overall setup and indirect link to the Croatian central securities depository.

“Croatia’s accession to the EU will be a positive step in further political, economic and social integration in the EU—and is also a great sign of the Western Balkan region opening up its capital markets. By cutting our custody fees for the Croatian market, we aim to help attract global investors to Croatia and the Western Balkan region more widely,” said Philip Brown, head of client relations Europe & Americas and member of the executive board, Clearstream.