Centrálny depozitár cenných papierov SR, a.s. is performing activities of a central depository under the authorisation issued on 11 January 2019 by relevant authority (the authorisation was issued by the National Bank of Slovakia). Centrálny depozitár cenných papierov SR, a.s. is the central depository according to the Regulation (EU) No 909/2014 of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (hereinafter only “CSDR Regulation”). In compliance with the authorisation to operate as a central securities depository granted pursuant to the CSDR Regulation, CDCP is authorised to provide:
I. SECTION A
Core services of central securities depositories
- Initial recording of securities in book-entry system („notary service“).
- Providing and maintain securities accounts at the top tier level („central maintenance service“).
- Operating a securities settlement system („settlement service“).
II. 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:
- Services related to the settlement service, such as:
settlement matching, instruction routing, trade confirmation, trade verification.
- Services related to the notary and central accounts maintenance services, such as:
- services related to shareholders’ registers;
- supporting the processing of corporate actions, including tax, general meetings and information services;
- new issue services, including allocation and management of ISIN codes and similar codes;
- instruction routing and processing, fee collection and processing and related reporting.
- Establishing CSD links, providing, maintaining or operating securities accounts in relation to the settlement service, collateral management, other ancillary services.
- Other services:
- providing information required by legal regulation;
- providing information, data and statistics to market/census bureaus or other governmental or inter-governmental entities;
- keeping of pledge registry;
- keeping of special registry of collateral transfers;
- keeping of list of shareholders of registered paper-form shares;
- services relating to allocation and management of LEI codes.
Securities accounts administration
Pursuant to the Act No.566/2001 Coll. on Securities and Investment Services as amended the central depository can open three types of securities accounts:
- owner’s account
- client’s account of member
- holder’s account
The owner’s account can be open in the central depository to its participants, central depositories, governmental body acting on behalf of the Slovak Republic, company MH Manažment, a.s. and other legal persons.
The central depository is registering on the owner’s account primarily information on type and quantity or volume of securities that belong to owner of this account. Securities registered on the owner’s account are segregated through this account from securities registered on other accounts kept in CDCP registry (owner’s accounts, client’s accounts, holder’s accounts). The owner’s account includes securities of only one owner.
From 1 January 2016 natural persons may apply for opening of new owner’s account only with a participant of the central depository.
The owner’s accounts opened by CDCP for natural and legal person before 30 September 2015 are regarded as non-allocated accounts. As of 6 February 2017 CDCP strengthened the membership principle what means an owner of non-allocated account – natural or legal person can apply for selected services only with the authorised member.
Authorised member can become any CDCP member on basis of a framework agreement concluded with CDCP. CDCP makes public list of authorised members on its web page.
The central depository shall open a client’s account only for its participant-member. The central depository shall register on the client’s account mainly information on the member, type, quantity or value of securities, and other details on securities registered on accounts of securities owners by a member of the central depository. The member for whom the accounts are administered is not owner/holder of securities registered on this account or securities registered in related registry of the member (on accounts of owners – clients of the member registered under the client’s account). The client’s account enables to the member segregate securities of each client through owner’s accounts opened under this account (owner’s accounts in member’s registry). Particular owner’s account administered under the client’s account includes securities of only one owner.
Holder’s account can be open by the central depository only for the National Bank of Slovakia, a central depository, foreign legal person with similar scope of activities, securities broker or foreign securities broker with authorisation to perform the ancillary service of custodianship, bank or foreign bank with authorisation to perform the ancillary service of custodianship. The central depository registers on the holder’s account information on securities, owners of which are registered by subject, for which the holder’s account has been open. The securities broker for who the holder’s account has been open, keeps records with details on security owners in the registry of the securities broker in compliance with article 71h, section 2 of the Act No. 566/2001 Coll. in valid wording, or in similar registry in compliance with the legal regulations based on which the foreign securities broker has been established, or in a registry kept pursuant to legal regulations based on which a foreign legal person, for who the holder’s account has been open, is established.
Holder for which the account is administered is not owner/holder of securities registered on this account or of securities registered in related holder’s registry. Owners of the securities are persons registered as owner’s in the holder’s registry pursuant to article 71h section 2 of the Act, or in similar registry in compliance with the legal regulations based on which the foreign holder has been established.
The holder’s account enables to the holder to hold on this account securities belonging to different clients.
Participants of the central depository can be:
- bank or foreign bank,
- securities broker or foreign securities broker,
- central counterparty,
- clearing agent, clearing house or settlement system operator or payment system operator
- state administration body,
- company with guarantee provided by the state in connection with participation in the settlement system or in the payment system,
- a central depository that became participant in the settlement system operated by the central depository on basis of special regulation, which are in compliance with requirements for granting access pursuant to the Rules of Operation of the central depository.
Member of the central depository can be:
- participant in the settlement system operated by the central depository
- a central depository that became participant in the settlement system operated by the central depository on basis of special regulation and which is in compliance with requirements for granting membership pursuant to the Rules of Operation of the central depository.
Participants of CDCP
List of authorised members to non-allocated accounts
RM – S Market o.c.p., a. s. provides services of the authorised member with respect to non-allocated accounts:
- in person in the seat of the company at Námestie SNP 14, 811 06 Bratislava, on business days from 9.00 until 17.00
- via phone: +421 2 593 29 211; +421 2 593 29 218
- via e-mail: rmsmarket@rmsmarket.sk
365.bank a.s. provides services of the authorised member with respect to non-allocated accounts in following branch offices:
- branch office Bratislava – River Park, Dvořákovo nábrežie 4, 811 02 Bratislava I
- branch office Nitra, Štefánikova trieda 65, 949 01 Nitra
- branch office Žilina, Na priekope 19, 120 03 Žilina
- branch office Košice Dargov, Štúrova 1, 040 01 Košice
Settlement system
In compliance with the act on securities and investment services the central depository is operating the settlement system by which it provides for settlement of stock-exchange and over-the-counter trades and transactions with the financial instruments. The central depository is providing the settlement services through technical platform Target 2-Securities (“T2s”). Further details on:
Connection with the payment system
The central depository is ancillary system to the payment system:
No.
Name
Operator
Date of connection
1.
TARGET2-SK
Národná banka Slovenska Imricha Karvaša 1, 813 25 Bratislava
1.1.2009
Further details: https://nbs.sk/en/payments/payment-systems/target-services/
Link with other issuer depositories
No.
Issuer depository
Type of link
Status
1.
Centrální depozitář cenných papírů, a.s.
FOP ("Free of payment")
Terminated on 31.10.2017
Assignment of ISIN codes
Centrálny depozitár cenných papierov SR, a. s. is the National Numbering Agency for Slovakia and member of the Association of National Numbering Agencies (ANNA). It is assigning the ISIN codes to securities in the Slovak Republic in compliance with the standard ISO 6166. Equally it performs activities in connection with change and cancelling of these codes.
Assignment of LEI codes
Centrálny depozitár cenných papierov SR, a.s. acts also as the Local Operating Unit (LOU) in the Slovak Republic: CDCP is assigning LEI codes to subjects registered in the Slovak and Czech Republic according to the GLEIF rules and in compliance with the ISO 17442 standard. The assigned LEI codes function as an identifier of participants in the financial markets.
