In 2013, European CSDs collectively processed around 410 million delivery instructions, 30 million more than in 2012. This translates into an average yearly settlement volume per CSD of over 10 million instructions or around 40,000 instructions per day of operation4, up by 8%
compared to 2012.
This excludes however MKK, which is a particular case. Turkey is by far the largest European market operating based on a direct holding model, with more than 43 million securities accounts maintained at the CSD level. As a result, MKK alone processed more than 216 million delivery instructions in 2013.5
In terms of value, the delivery instructions processed by ECSDA members in 2013 represented over EUR 1.1 quadrillion (see Chart 8), a plus of nearly 10% or EUR 100 trillion as compared to 2012. This translates into an average of EUR 27.2 trillion of deliveries per CSD, although this figure may be slightly misleading given the substantial differences across ECSDA members. Each of the six smallest CSDs in terms of settlement volumes settled instructions worth less than EUR
4 Based on the assumption of an average of 256 days of operation.
5 In addition to the high number of beneficial owner accounts, MKK also maintains many operational sub accounts for operations such as mutual funds transactions, collateral operations, legal transactions (i.e. attachments), operations related to securities lending and borrowing, corporate actions, etc. The number of delivery instructions processed by MKK is very large since it includes movements between those operational sub accounts, in addition to movements between participant and investor accounts, which itself is large due to the direct holding structure.
41,069 40,716 42,040 43,902
3,282 3,052 3,519 3,920
2010 2011 2012 2013
Other ECSDA members EU CSDs
17
1 billion in 2013, whereas the largest ICSD in this respect, Euroclear Bank, settled instructions worth more than EUR 340 trillion, followed by Euroclear UK & Ireland with an annual settlement value also well above EUR 300 trillion6. In other words, in 2013, these two CSDs alone settled each on average instructions worth more than EUR 1,200 billion every day.
Finally, based on these figures, it is possible to calculate the average size of a single delivery instruction for all CSDs. In 2013, the average settlement instruction processed by ECSDA members was around EUR 2.7 million (excluding MKK), slightly more than in 2012, but below the two preceding years where the average settlement instruction had a value of around 2.9 million. The average value per delivery instruction for MKK was only around EUR 13,000, reflecting the specificities of the Turkish account holding structure (see footnote 5).
Chart 8: Delivery instructions processed by ECSDA members
6 The settlement figures for Euroclear UK & Ireland for the years 2010-2013 were substantially revised upward to include instructions linked to auto-collateralisation. Given the size of the UK market, this also had a significant impact on aggregate figures.
1167.39 1228.54
1015.87
1115.34
397.87 423.85 380.63
411.36
0 100 200 300 400 500
0 200 400 600 800 1,000 1,200
2010 2011 2012 2013
Value of deliveries (EUR trillion) Number of deliveries (million)
18
Section B: Individual factsheets
This section of the report contains a 1-page factsheet on each ECSDA member organisation.
Unless otherwise specified, all information provided is valid as at 31 December 2013.
19
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 53,309
Redemptions (EUR million) 37,526
Value of securities held on accounts (EUR million) 509,066 Value of deliveries (EUR million) 218,823 Number of deliveries (thousands) 1,252
221,020
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 923
End investor accounts at CSD: No
Total participants: 152
74% 26%
Domestic Non-domestic
Corporate information
For profit
61 employees (61 FTEs)
62%
CSD participants 38%
Other
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1 (OTC transactions)
Model 2
Model 3 (On-exchange transactions)CSD ownership:
OeKB
Oesterreichische Kontrollbank AG, Strauchgasse 3, 1011 Vienna, Austria www.oekb.at
20
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 169
Redemptions (EUR million) 349
Value of securities held on accounts (EUR million) 7,488
Value of deliveries (EUR million) 88
Number of deliveries (thousands) 40
75 80
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 1,260,000 End investor accounts at CSD: Yes
Total participants: 14
100%
Domestic Non-domestic
Corporate information
For profit
35 employees (35 FTEs)
33%
24%
State authorities 43%
Trading venue CSD participants
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2SBIS settlement model:
Model 1 (Money market transactions)
Model 2 (On-exchange transactions)
Model 3CSD ownership:
Central Registry of Securities JSC Banja Luka (CR HoV RS)
Centralni registar hartija od vrijednosti a.d. Banja Luka, Sime Šolaje 1, 78000 Banjaluka, Republic of Srpska
Bosnia and Herzegovina www.crhovrs.org
21
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 210
Redemptions (EUR million) 207
Value of securities held on accounts (EUR million) 6,223 Value of deliveries (EUR million) 248
Number of deliveries (thousands) 50
120
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 351,062 End investor accounts at CSD: Yes
Total participants: 15
100%
Domestic Non-domestic
Corporate information
Not for profit
27 employees (27 FTEs)
75%
25%
State authorities CSD participants
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2SBIS settlement model:
Model 1 (T-bills)
Model 2 (On-exchange transactions)
Model 3CSD ownership:
Registry of Securities (RVP)
Registar vrijednosnih papira u Federeciji Bosne i Hercegovine, Maršala Tita 62/II, 71000 Sarajevo, Bosnia and Herzegovina
www.rvp.ba
22
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 0
Redemptions (EUR million) 0
Value of securities held on accounts (EUR million) 0
Value of deliveries (EUR million) 0
Number of deliveries (thousands) 0
Users
Securities accounts: 0
End investor accounts at CSD: No
Total participants: 3
100%
Domestic Non-domestic
Corporate information
For profit
15 employees (15 FTEs)
Other 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
BNY Mellon CSD
BNY Mellon CSD SA/NV, 46 rue Montoyer, 1000 Brussels, Belgium
www.bnymellon.com/centralsecuritiesdepository/index.html
23
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Depositary Receipts Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 3,041,423
Redemptions (EUR million) 3,865,455
Value of securities held on accounts (EUR million) 10,614,296 Value of deliveries (EUR million) 342,231,890
Number of deliveries (thousands) 70,095
277,207
2010 2011 2012 2013
Value of deliveries (billion €) Number of deliveries (thousands)
Users
Securities accounts: 21,518 End investor accounts at CSD: No
Total participants: 1,474
2% 98%
Domestic Non-domestic
Corporate information
For profit
2,725 employees (2,512 EFTs)
CSD participants 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S
BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Euroclear Bank
Euroclear Bank, 1 Boulevard du Roi Albert II, 1210 Brussels, Belgium www.euroclear.com
24
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: VVPR strips Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 13,602
Redemptions (EUR million) 3,220
Value of securities held on accounts (EUR million) 202,745 Value of deliveries (EUR million) 783,324 Number of deliveries (thousands) 1,908
463,630
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 638
End investor accounts at CSD: No
Total participants: 76
26% 74%
Domestic Non-domestic
Corporate information
For profit
52 employees (50 FTEs)
CSD participants 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3Euroclear Belgium
Euroclear Belgium, 1 Boulevard du Roi Albert II, 1210 Brussels, Belgium www.euroclear.com
CSD ownership:
25
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Compensatory Instruments Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 339
Redemptions (EUR million) 635
Value of securities held on accounts (EUR million) 32,462 Value of deliveries (EUR million) 626 Number of deliveries (thousands) 503
190
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 3,089,532 End investor accounts at CSD: Yes
Total participants: 102
99% 1%
Domestic Non-domestic
Corporate information
For profit
26 employees (25 FTEs)
44%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2SBIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Central Depository AD (CDAD)
Central Depository AD, 6 Tri Ushi Str., 1000 Sofia, Bulgaria www.csd-bg.bg
26
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: -Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 170,518
Redemptions (EUR million) 49,914
Value of securities held on accounts (EUR million) 2,349,325 Value of deliveries (EUR million) 5,551,881 Number of deliveries (thousands) 49,817
9,275,340 9,406,000
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 22,568 End investor accounts at CSD: No
Total participants: 367
53% 47%
Domestic Non-domestic
Corporate information
For profit
272 employees (256 FTEs)
96%
4%
CSD participants Other
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
SIX SIS
SIX SIS Ltd, Baslerstrasse 100, 4600 Olten, Switzerland www.six-securities-services.com
27
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: GDRs Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 9,957
Redemptions (EUR million) 12,561
Value of securities held on accounts (EUR million) 7,395 Value of deliveries (EUR million) 2,042
Number of deliveries (thousands) 40
1,350
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 246,645 End investor accounts at CSD: Yes
Total participants: 35
49% 51%
Domestic Non-domestic
Corporate information
Not for profit
22 employees (22 FTEs)
State authorities 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S
BIS settlement model:
Model 1 (OTC transactions)
Model 2 (On-exchange transactions)
Model 3CSD ownership:
Cyprus Stock Exchange (CSE)
Cyprus Stock Exchange, 71-73 Lordou Vironos Avenue, 1096 Nicosia, Cyprus
www.cse.com.cy
28
OeKB
Oesterreichische Kontrollbank AG, Strauchgasse 3, 1011 Vienna, Austria www.oekb.at
Central Securities Depository Prague (CSD Prague)
Centrální depozitář cenných papírů, a.s., Rybná 14, 110 05, Prague, Czech Republic
www.centralnidepozitar.cz
Securities transactions 2013
New issues (EUR million) 8,577
Redemptions (EUR million) 1,215
Value of securities held on accounts (EUR million) 111,259 Value of deliveries (EUR million) 136,694 Number of deliveries (thousands) 737
107,870
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 1,639,948 End investor accounts at CSD: Yes
Total participants: 27
85% 15%
Domestic Non-domestic
Corporate information
For profit
40 employees (39 FTEs)
Trading venue 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S
BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: -Other services:
NNA
LEI
29
Clearstream Banking Frankfurt (CBF)
Clearstream Banking AG, Mergenthalerallee 61, 65760 Eschborn, Germany
www.clearstream.com
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 4,455,459
Redemptions (EUR million) 4,160,427
Value of securities held on accounts (EUR million) 6,376,067 Value of deliveries (EUR million) 59,684,747 Number of deliveries (thousands) 61,225
68,193
2010 2011 2012 2013
Value of deliveries (billion €) Number of deliveries (thousands)
Users
Securities accounts: 10,515 End investor accounts at CSD: No
Total participants: 359
51% 49%
Domestic Non-domestic
Corporate information
For profit
318 employees (290 FTEs)
Trading venue 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
30
VP Securities
VP Securities A/S, Weidekampsgade 14, 2300 Copenhagen S, Denmark www.vp.dk
Securities transactions 2013
New issues (EUR million) 248,209
Redemptions (EUR million) 266,785
Value of securities held on accounts (EUR million) 907,575 Value of deliveries (EUR million) 6,257,296 Number of deliveries (thousands) 13,065
5,820,850 6,189,570
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 3,400,000 End investor accounts at CSD: Yes
Total participants: 177
63% 37%
Domestic Non-domestic
Corporate information
For profit
186 employees (180 FTEs)
24%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR from 2016 & DKK from 2018)BIS settlement model:
Model 1
Model 2
Model 3Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other:Non-tradeable certificates issued by special-purpose UCITS Other services:
NNA
LEI
CSD ownership:
31
Estonian CSD
Eesti Väärtpaberikeskus AS, Tartu St. 2, Tallinn 10145, Estonia www.e-register.ee
Securities transactions 2013
New issues (EUR million) 305
Redemptions (EUR million) 233
Value of securities held on accounts (EUR million) 10,331 Value of deliveries (EUR million) 3,082
Number of deliveries (thousands) 87
770
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 107,377 End investor accounts at CSD: Yes
Total participants: 12
75% 25%
Domestic Non-domestic
Corporate information
For profit
23 employees (23 FTEs)
Trading venue 100%
CSD ownership:
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: -Other services:
NNA
LEI
32
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 533,238
Redemptions (EUR million) 516,588
Value of securities held on accounts (EUR million) 2,197,626 Value of deliveries (EUR million) 66,579,693 Number of deliveries (thousands) 28,297
88,259 88,199
2010 2011 2012 2013
Value of deliveries (billion €) Number of deliveries (thousands)
Users
Securities accounts: 381
End investor accounts at CSD: No
Total participants: 150
78% 22%
Domestic Non-domestic
Corporate information
For profit
109 employees (109 FTEs)
Trading venue 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1 (CADE Platform)
Model 2 (SCLV Platform)
Model 3CSD ownership:
Iberclear
Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A. Unipersonal, Plaza de la Lealtad, 1 28014 Madrid, Spain
www.iberclear.com
33
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Finnish Depositary Receipts (FDR)Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 43,115
Redemptions (EUR million) 38,357
Value of securities held on accounts (EUR million) 274,118 Value of deliveries (EUR million) 487,223 Number of deliveries (thousands) 6,188
479,060
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 1,351,852 End investor accounts at CSD: Yes
Total participants: 26
58% 42%
Domestic Non-domestic
Corporate information
For profit
77 employees (74 FTEs)
CSD participants 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Euroclear Finland
Euroclear Finland Ltd, Urho Kekkosen katu 5 C, FI-00100 Helsinki, Finland
www.euroclear.com
34
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: -Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 5,046,742
Redemptions (EUR million) 5,092,646
Value of securities held on accounts (EUR million) 5,630,117 Value of deliveries (EUR million) 131,223,615
Number of deliveries (thousands) 24,382
136,974 146,537
2010 2011 2012 2013
Value of deliveries (billion €) Number of deliveries (thousands)
Users
Securities accounts: 1,157
End investor accounts at CSD: No
Total participants: 157
75% 25%
Domestic Non-domestic
Corporate information
For profit
313 employees (299 FTEs)
CSD participants 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Euroclear France
Euroclear France, 66 rue de la Victoire 75009 Paris, France www.euroclear.com
35
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Hellenic Depository Receipts, Structured Products Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 6,748
Redemptions (EUR million) 0
Value of securities held on accounts (EUR million) 68,050 Value of deliveries (EUR million) 50,183 Number of deliveries (thousands) 7,346
45,010
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 1,820,526 End investor accounts at CSD: Yes
Total participants: 70
73% 27%
Domestic Non-domestic
Corporate information
For profit
107 employees (107 FTEs)
Trading venue 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S
BIS settlement model:
Model 1 (beneficiary account level)
Model 2 (net on cash at participant cash account level)
Model 3CSD ownership:
ATHEXCSD
Hellenic Central Securities Depository SA, 110 Athinon Avenue, 104 42 Athens, Greece
www.helex.gr
36
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Croatian government rights, CertificatesOther services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 6,072
Redemptions (EUR million) 5,495
Value of securities held on accounts (EUR million) 42,904 Value of deliveries (EUR million) 29,687 Number of deliveries (thousands) 607
42,300
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 889,943 End investor accounts at CSD: Yes
Total participants: 65
97% 3%
Domestic Non-domestic
Corporate information
For profit
43 employees (43 FTEs)
21% 62%
17%
State authorities CSD participants Other
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2SBIS settlement model:
Model 1 (“trade-for-trade” service)
Model 2
Model 3 (contractual service)CSD ownership:
Central Depository & Clearing Company Inc. (SKDD)
Središnje klirinško depozitarno društvo d.d., Heinzelova 62a, 10000 Zagreb, Croatia
www.skdd.hr
37
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Futures, Options, Mortgage Bonds, Capital BillOther services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 449,392
Redemptions (EUR million) 436,404
Value of securities held on accounts (EUR million) 132,765 Value of deliveries (EUR million) 1,689,323 Number of deliveries (thousands) 541
1,642,140
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 4,530
End investor accounts at CSD: No
Total participants: 169
90% 10%
Domestic Non-domestic
Corporate information
For profit
133 employees (130 FTEs)
47% 53%
Central bank Trading venue
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1 (OTC transactions)
Model 2
Model 3 (On-exchange transactions)CSD ownership:
KELER
KELER Ltd, 70-72 Rákóczi Street, 1074 Budapest, Hungary www.keler.eu
38
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: - Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 1,487
Redemptions (EUR million) 1,725
Value of securities held on accounts (EUR million) 21,726
Value of deliveries (EUR million) 0
Number of deliveries (thousands) 0
16,210 16,210
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 78,000
End investor accounts at CSD: Yes
Total participants: 27
74% 26%
Domestic Non-domestic
Corporate information
For profit
6 employees (6 FTEs)
Trading venue 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2SBIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Icelandic Securities Depository (ISD)
Verðbréfaskráning íslands, Laugavegur 182, 105 Reykjavik, Iceland www.vbsi.is
39
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Cooperative shares (issued by Italian cooperative banks) Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 650,294
Redemptions (EUR million) 690,092
Value of securities held on accounts (EUR million) 3,298,995 Value of deliveries (EUR million) 62,349,196
Number of deliveries (thousands) 20,997
77,357
2010 2011 2012 2013
Value of deliveries (billion €) Number of deliveries (thousands)
Users
Securities accounts: 976
End investor accounts at CSD: No
Total participants: 233
95% 5%
Domestic Non-domestic
Corporate information
For profit
100 employees (100 FTEs)
99%
1%
Trading venue Other
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1 (Most of the daytime cycle)
Model 2
Model 3 (Overnight batch)CSD ownership:
Monte Titoli
Monte Titoli S.p.A, Piazza degli Affari , 6, 20123 Milan, Italy www.montetitoli.it
40
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: -Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 1,805
Redemptions (EUR million) 1,485
Value of securities held on accounts (EUR million) 10,847 Value of deliveries (EUR million) 3,198
Number of deliveries (thousands) 99
4,100
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 3,280
End investor accounts at CSD: Yes
Total participants: 22
86% 14%
Domestic Non-domestic
Corporate information
For profit
18 employees (18 FTEs)
Trading venue 100%
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Central Securities Depository of Lithuania (CSDL)
Lietuvos centrinis vertybinių popierių depozitoriumas, Lvovo g. 25, 9320 Vilnius, Lithuania
www.csdl.lt
41
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other: Eurobonds, foreign bonds, depositary receipts, asset-backed securities and other collateralised debt securitiesOther services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 1,431,471
Redemptions (EUR million) 917,080
Value of securities held on accounts (EUR million) 5,206,336 Value of deliveries (EUR million) 77,295,235
Number of deliveries (thousands) 22,102
62,815
2010 2011 2012 2013
Value of deliveries (billion €) Number of deliveries (thousands)
Users
Securities accounts: -
End investor accounts at CSD: No
Total participants: 1,300
8% 92%
Domestic Non-domestic
Corporate information
For profit
1215 employees (1166 FTEs)
100%
Trading venue
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2SBIS settlement model:
Model 1
Model 2
Model 3CSD ownership:
Clearstream Banking Luxembourg (CBL)
Clearstream International SA, 42 Avenue JF Kennedy, 1855 Luxembourg www.clearstream.com
42
Services
Financial instruments accepted for deposit and/or settlement:
Equities
ETFs
Government bonds
Corporate bonds
Treasury bills
Commercial paper
Investment funds
Warrants and rights
Emission rights
Other -Other services:
NNA
LEI
Securities transactions 2013
New issues (EUR million) 5,962
Redemptions (EUR million) 0
Value of securities held on accounts (EUR million) 5,996
Value of deliveries (EUR million) 13,100
Number of deliveries (thousands) 2
0 0 0
13,100
2
0.0 0.5 1.0 1.5 2.0 2.5
0 2,000 4,000 6,000 8,000 10,000 12,000 14,000
2010 2011 2012 2013
Value of deliveries (million €) Number of deliveries (thousands)
Users
Securities accounts: 20
End investor accounts at CSD: No
Total participants: 12
67% 33%
Domestic Non-domestic
Corporate information
For profit
3 employees (3 FTEs)
50%
Central bank 50%
Trading venue
Basic information
Banking license
Designated SSS
Eurosystem eligible SSS
T2S (EUR)BIS settlement model: