2010

In 2010, trading volume nearly halved in comparison to the year before. However, due to links between the Slovenian settlement platform and the European one, there was significant growth in offer and demand from abroad, which outbalanced the otherwise decreasing number of domestic transactions.

KDD offered its clients (issuers) a new service: information on security holders and claimants. It added a new web service for its members: daily information on incurred interest and principal of bonds traded on the Ljubljana Stock Exchange. From 2010, members have unlimited access to all registers of registered securities. Members have been enabled to have web access to the central securities registry system from home or abroad independent of a telecommunication provider.

In the same year, KDD consolidated its legal acts with the novel of The Financial Instruments Market Act and acquired the necessary approval of the Securities Market Agency to adopt changes and amendments to its Operations Rules, Regulations on Central Securities Registry Maintenance, Regulations on Members and Technical Regulations. It adopted new Regulations on Settlement of Stock Exchange Transactions.
 

2009

The year was a harsh one; the global financial and economic crisis extended deep into the Slovenian securities market.

At the start of the year, we introduced new tariffs (comparable to tariffs in European markets):  compensations for maintenance of balance of securities accounts, which made our revenues less dependent on short-term movements on capital markets. In May, the board of directors confirmed the operating strategy for the period 2009-2014.

We implemented improvements which provide our clients with easier trading, while we were also certified by Microsoft within the scope of upgrading the information system behind the central registry. The mission of OECD’s Financial Markets Committee assessed our infrastructure as complying with all requirements and recommendations.

Evrosistem  confirmed all the self-assessments as suitable. The first assessment we received to confirm that the direct connection with Clearstream Banking Luxembourg and indirect connection with Clearstream Banking Frankfurt are suitable proved that our guidelines in setting up and developing the entire securities settlement system were correct.

On the project Evrosistem TARGET-2 – Securities (T2S) we signed a memorandum in July which committed us to the extent of negotiating with Evrosistem on integration with T2S. At the end of the year, we prepared a technical plan of potential adaptation of the securities central registry on T2S and a framework analysis of the impact on users of our services.

In line with the set strategy, we successfully prevented our autonomy to be reduced in deciding on the company's tariff system. In the field of risk management, we introduced a policy of managing and monitoring incidents, while also taking part in promoting the Slovenian securities market in Ljubljana, Belgrade, Stockholm and Vienna.

2008

February of last year saw initiation of transactions through connections that KDD established with pan-European securities clearing corporations Euroclear and Clearstream Banking Luxembourg. By establishing the said connections, KDD enabled domestic issue of Slovenian government bonds, including bond trading and settlement in KDD’s central registry as well as in pan-European trading and settlement systems. This coincided with the issue of syndicate bond RS63 in KDD’s central dematerialised securities register and with initiation of trading with the said bond on the European trading platform MTS Slovenia.

Within the process of fulfilling accession criteria for full membership of the Republic of Slovenia in OECD, KDD was one of the first to be invited to cooperation as one of the institutions vital to the system.

Syndicate debt security issue procedures were revamped, the infrastructure for issue of structured and compound financial instruments was duly established; electronic data flow was produced and adopted for the issue of bonds of Slovenska odškodninska družba.

KDD provided the Supreme Court with automated insight into the balance of security account holders, which has since been integrated into its claims recovery application.

2008 saw the existing central securities registry system harmonised with the new CFI standard and upgraded for charging compensation for maintenance of security balances. New connections between the central securities registry  the AJPES business register to the Central Population Register were also established.

In order to provide long-term unhindered infrastructure to operations of the financial market as a systemically significant institution, and integrate itself into the European clearing and settlement infrastructure, KDD adopted a new, European-based tariff structure. 

2007

With regard to adoption of the euro, KDD actively participated in the Coordination Committee for technical preparations for the introduction of the euro and its groups for the capital market, whose members also featured representatives of the Ministry of Finance of the Republic of Slovenia, the Ljubljana Stock Exchange, the Securities Market Agency, Association of Members of the Ljubljana Stock Exchange and Association of Management Companies. In the middle of the year, KDD, together with the Ljubljana Stock Exchange, even assumed coordination for information technology within the scope of this group from the Securities Market Agency and successfully concluded it. The beginning of the year thus marked a successful transaition into trading with the new currency.
KDD met all the deadlines in meeting requirements in accordance with the signed European Code of Conduct with regard to transparency of prices and access and system interoperability.
In September, it adopted new Rules based on the recently passed Market in Financial Instruments Act.
The end of October saw KDD establish a connection with the international clearing and settlement company Clearstream. The new connection which allows Clearstream's clients entry on to the Slovenian securities market, is an important setp towards integration of the Slovenian capital market with the common European capital market. The new partnership sees state securities, issued by the domestic clearing and settlement system in the Republic of Slovenia, marketed on a global scale and makes them more easily accessible and interesting to the global investment environment.

2006

The Slovenian system of securities trade settlement provided by KDD meets all the standards of the European central Bank for operation within the scope of settlement of securities in Eurosystem's trading operations. This was the decision reached on 19 October by the European Central Bank's Committee based on a detailed analysis and review of KDD's existing system. The positive assessment passed by ECB's Committee also awards KDD a status of »a suitable system of securities settlement for the purpose of securing credit operations of the European System of Central Banks«, which is important from the perspective of Slovenia's accession into the European Monetary Union as of 1 January, 2007. The assessment of the ECB's Committee is an important endorsement for KDD in the sense that its guidelines in construction of the entire settlement system were properly set out.

Public announcement by the European Central Bank on its assessment of the Slovenian securities settlement system

Together with other European securities clearing companies and stock exchanges, KDD delivered a signed European Code of Conduct to the European Commissioner for the internal market in relation to clearing and settlement of equity securities on 7 November, 2006.
By signing the said Code, KDD joined its counterparts (within the framework of the European Central Securities Depositories Association, ECSDA) in its endeavours for greater efficiency and integration of the European capital market. The objective of the Code, which follows European Commission guidelines, is to enable investors trading with European securities within a firm, conformable, united and cost-efficient European market and provide freedom of choice amongst providers of trading and post-trading services throughout Europe.. More…

2005

On June 6, 2005, KDD successfully launched its completely new, complex central registry system with new information infrastructure. Advantages of the new solution, based on modern technological foundations and service approach, are: improved functionalities, faster and safer operations, manageability of the system and possible system extentions. The application was developed entirely by KDD's own experts.

2004

According to the assessment of securities settlement systems of accession countries against the standards for their use in Eurosystem credit operations, carried out by the European Central Bank, KDD is assessed as eligible for use in Eurosystem credit operations. In March KDD launches a newly designed and updated home page. In November, it hosts the International ECB – ECSDA - CEECSDA Conference in Ljubljana. In December, a direct link is established between KDD and the data base of the Slovenian Central Register of Population (CRP) what enables automated harmonisation of data in the CRP with personal data on securities holders in the central securities registry of KDD.

2003

Pursuant to the Investment Funds and Management Companies Act KDD prepares basis to support legal relations between management companies and custodian banks and offers additional services within the existing infrastructure. As required by the Central Bank of Slovenia, KDD prepares a DVP system for repurchase agreements as a part of the general OTC – DVP system.
According to Core Principles for Systematically Important Payment Systems of the Bank for International Settlement (Core Principle No 5), risk management methodology, used by KDD, indicates that settlement risk control complies with required standards set by BIS.

2002

KDD's operation was marked by its moving to new business premises.
Cash settlements began to be executed through payment operations within the Bank of Slovenia.The European Central Bank gave a good rating to the payment systems and the securities clearing and settlement systems in place in Slovenia with regard to its forthcoming full membership of the EU.

2001

To enable efficient, secure and prompt settlement of trades on the money market KDD joined the SWIFT system and started the system of simultaneous fulfilment of obligations from off-the-organised market (OTC-DVP trades).
KDD organised the general meeting of CEECSDA in Slovenia.

2000

Within the Stability Treaty in the South-east Europe KDD signed an agreement with the Slovene Ministry of Economic Relations and Development and the Federation of BIH and the Republic of Srbska on the transfer of technology and knowledge related to the system of the central registry of securities.

1999

The Dematerialised Securities Act, the new Securities Market Act and the Foreign Exchange Transactions Act were adopted. KDD enhanced its information system with new functions such as exercising of the right to select and transfer securities of the same or a new holder to the account, opened with another KDD member, access to the registers of holders of registered shares, transfer of data on balances in the share registers to issuers through the internet.
At the year end KDD obtained the register of tax numbers from the Tax Administration of the Republic of Slovenia, which ensured a more accurate and efficient running of the holders’ register and simplified the issuers’ payment of dividends and interest to holders of their securities.
KDD started implementing the provisions of the Takeovers Act in carrying out entries of limitation on disposal of securities, book-entry transfers and payments made with respect to public offer to buy securities, carrying over 25% of voting rights.
KDD’s operation was affected by the pension reform, and in relation to the issued pension coupons, trading in coupons and exercising the right to exchange them, KDD carried out over 200,000 entries.
KDD became a member of ANNA - Association of National Numbering Agencies, Brussels. Thus it obtained the status of a national agency for granting internationally valid ISIN codes to securities and other financial instruments.
KDD joined the association of international capital market institutions ISSA – the International Securities Services Association, Zürich.
KDD set up a back-up location in Koper and doubled the capacity of its computer hardware and expanded its information system in accordance with international standards of security of operation. Thus in the event of a natural catastrophe or sabotage KDD's information system would be able to resume its operation on the same day at the back-up location.

1998

KDD provided for payment of interest on dematerialised bonds RS04, RS09, RS15, rehabilitation bonds of the Republic of Slovenia and bonds of the Restitution Fund.
KDD, together with eleven other members, founded and signed the Memorandum of Association of the Central and Eastern EuropeanCentral Securities Depositories and Clearing Houses Association (CEECSDA) headquartered in Budapest and became more active internationally.
KDD began developing a system of on-line data transfer from the share register through the internet.

1997

The Takeovers Act and the Amendments and Supplements to the Investment Funds and Management Companies Act were passed.
The U.S. Securities and Exchange Commission recognised KDD as an eligible foreign custodian. The recognition meant that institutional investors from the U.S. could invest in the securities entered in KDD's central registry without prior approval from the Commission.
KDD enhanced the registry codes system, which enabled automatic, on-line and timely fulfilment of all or individual settlement obligations from concluded trades in connection with custody services.

1996

KDD began to carry on most of its activities (issue of dematerialised securities, book-entry transfers related to concluded trades… ) in this year and started managing the assets of the Guarantee Fund.
Authorised participants in the securities market were admitted to KDD transfer and settlement system membership.

1995

In January KDD was founded as the first and only institution in Slovenia to provide central securities custody services, clearance and settlement of securities transactions and maintenance of the central registry of holders of dematerialised securities.
The Government of the Republic of Slovenia adopted a decree on dematerialised securities.The most important bylaw of KDD was drawn up – the KDD Rules.