The Central Depositary AD or CDAD, is one of two

central securities depositories A central securities depository (CSD) is a specialized financial organization holding securities like shares, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily transferred through a book entry rather th ...

Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Mac ...

, the other being the Bulgarian National Bank Government Securities Settlement System.

Overview

CDAD was established as a

joint-stock company A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders a ...

on . It committed to connecting to the

TARGET2-Securities TARGET2-Securities, in shorthand T2S, is the Eurosystem's platform for securities settlement in central bank money. T2S offers centralised delivery-versus-payment (DvP) settlement across several European securities markets, without being itself a ...

(T2S) securities settlement platform of the

Eurosystem The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The European Central Bank (ECB) has, under Article 16 of its Statute,

in October 2022. CDAD's shareholders include the Bulgarian Ministry of Finance, the country's main banks and investment firms, and the

Bulgarian Stock Exchange The Bulgarian Stock Exchange ( bg, Българска фондова борса, ''Balgarska fondova borsa'', abbreviated BSE) is a stock exchange operating in Sofia, the capital of Bulgaria. It was founded as First Bulgarian Stock Exchange on 10 ...

. The Ministry of Finance has the largest single stake at 43.7 percent. The

Bulgarian National Bank The Bulgarian National Bank ( bg, Българска народна банка, Bohlgarska narodna banka, ), or BNB, is the central bank of the Republic of Bulgaria. Headquartered in Sofia, the bank was established in 1879. It is the 13th oldest ...

was a shareholder until 2011, when it sold its 20 percent stake to the Ministry of Finance. Other shareholders may not hold more than 5 percent each.

References

Central securities depositories of Europe Bulgarian companies established in 1997 {{finance-stub

Overview

See also

References