The European Central Bank and the central banks of the Eurozone launched a common European platform for the settlement of securities transactions called Target2-Securities (T2S). Due to integration of central securities depositories into a common European platform, the Central Securities Clearing Corporation (KDD) in Slovenia is terminating all accounts that do not have a designated KDD financial intermediary (registry accounts) and forcing owners of these accounts to transfer their securities to an account with financial intermediary. This situation is having a negative impact on costs related to the ownership of securities.
