Croatia’s partnership with Montran marks a crucial step in transforming its Capital Markets Infrastructure.

Croatia has formally launched its new Central Securities Depository (CSD) platform in collaboration with Montran, a provider of payments, cash, and liquidity management solutions for banks. This has made it possible to launch operations on the European securities settlement platform, TARGET2-Securities (T2S).


Središnje Klirinško Depozitarno Društvo (SKDD), the Central Depository and Clearing Company of Croatia, declared on September 11, 2023, that the successful launch of their new CSD platform had taken place.

Croatia has reached “a pivotal moment in the evolution of Croatia’s Capital Markets Infrastructure” in collaboration with Montran. This change makes it possible to find creative ways to handle the securities market sustainably.

Efficiently handle dematerialized securities’ lifetime

“Montran’s cutting-edge CSD solution and our experience with T2S provide the Croatian market with a proven platform where all stakeholders benefit from full T2S integration, best market practises, harmonised corporate action processing and notifications, as well as the latest ISO 20022 messages,” said Raegan Esca, general manager for Montran in Europe. We have no doubt that the Croatian capital market will flourish and innovate thanks to this platform.

With the help of the new CSD platform, SKDD can effectively manage the whole lifecycle of dematerialized securities and integrate with the Euro Area through T2S.

This covers corporate action processing, clearing for the primary and secondary markets, settlement, and registration. It is constructed utilising best practises and fully supports ISO 20022 messages for straight-through-processing (STP).

The president of the management board at SKDD, Dora Matošić, added: “By connecting the new platforms to T2S, this further develops the stability and efficiency of the Croatian capital market by offering a more sophisticated and integrated infrastructure for securities settlement. The successful implementation of these new platforms is a major milestone in upgrading the Croatian securities market infrastructure.”

In order to establish the groundwork for the future growth of the Croatian capital market, SKDD has actively engaged on projects over the last five and a half years that aim to further integrate the Croatian capital market with European business practises.

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