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Raiffeisen Centrobank to Join Prague Stock Exchange

Published: May 22, 2013; 19:04 · (Vindobona)

Raiffeisen Centrobank joins the Prague Stock Exchange as trading member.

Raiffeisen Centrobank to Join Prague Stock Exchange / Picture: © Raiffeisen Bank International

On Friday, the Prague Stock Exchange welcomes Raiffeisen Centrobank AG, headquartered in Vienna, as a new member. The bank is the sixteenth member of the Prague Stock Exchange and the third overall to make trades from headquarters located outside the Czech Republic. Raiffeisen Centrobank AG is one of the largest security brokers and leading market makers in Austria.

Raiffeisenbank, a.s., participant of the Central Securities Depository (CSD) in Prague, acts as a Clearing Agent for Raiffeisen Centrobank AG. The new roles of the CSD participants (Clearing Agent or General Clearing Member) enable foreign exchange members to fully rely on the CSD participants for the purpose of clearing and settlement. Raiffeisenbank is the first bank that renders this kind of services to a foreign exchange member. Raiffeisen Centrobank will cover the risks from exchange trades on its own through participation in the CSD Clearing Fund.