Annexes to COM(2012)73 - Improving securities settlement in the EU and central securities depositories (CSDs) - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
dossier | COM(2012)73 - Improving securities settlement in the EU and central securities depositories (CSDs). |
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document | COM(2012)73 ![]() |
date | July 23, 2014 |
LIST OF SERVICES
SECTION A
Core services of central securities depositories
1. | Initial recording of securities in a book-entry system (‘notary service’); |
2. | Providing and maintaining securities accounts at the top tier level (‘central maintenance service’); |
3. | Operating a securities settlement system (‘settlement service’). |
SECTION B
Non-banking-type ancillary services of CSDs that do not entail credit or liquidity risks
Services provided by CSDs that contribute to enhancing the safety, efficiency and transparency of the securities markets, which may include but are not restricted to:
1. | Services related to the settlement service, such as:
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2. | Services related to the notary and central maintenance services, such as:
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3. | Establishing CSD links, providing, maintaining or operating securities accounts in relation to the settlement service, collateral management, other ancillary services. |
4. | Any other services, such as:
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SECTION C
Banking-type ancillary services
Banking-type services directly related to core or ancillary services listed in Sections A and B, such as:
(a) | Providing cash accounts to, and accepting deposits from, participants in a securities settlement system and holders of securities accounts, within the meaning of point 1 of Annex I to Directive 2013/36/EU; |
(b) | Providing cash credit for reimbursement no later than the following business day, cash lending to pre-finance corporate actions and lending securities to holders of securities accounts, within the meaning of point 2 of Annex I to Directive 2013/36/EU; |
(c) | Payment services involving processing of cash and foreign exchange transactions, within the meaning of point 4 of Annex I to Directive 2013/36/EU; |
(d) | Guarantees and commitments related to securities lending and borrowing, within the meaning of point 6 of Annex I to Directive 2013/36/EU; |
(e) | Treasury activities involving foreign exchange and transferable securities related to managing participants’ long balances, within the meaning of points 7(b) and (e) of Annex I to Directive 2013/36/EU. |