INTERBOLSA (Euronext Securities Porto) established, in 2004, two specialized and independent user groups: the General Advisory Committee (Comité Consultivo Geral – CCG) and the Operational Advisory Committee (Comité Consultivo Operational – CCO), that act as Euronext Securities Porto’s first source of advice, regarding the matters related to the Settlement and Centralised Registration of Securities.
The aim of the referred committees is the promotion of a more effective interaction and interconnection between Euronext Securities Porto and its Participants in the Centralised Securities Systems and the Securities Settlement Systems managed by Euronext Securities Porto.
According to article 28 of Regulation (EU) No. 909/2014 of the European Parliament and of the Council of 23 July 2014 (hereinafter, CSD Regulation or CSDR), the Central Securities Depositories (CSDs) establish user committees composed of representatives of Issuers and Participants in the systems they manage.
- The General Advisory Committee (CCG) shall support and assist Euronext Securities Porto with the issues related to the managing of Centralised Securities Systems and Securities Settlement Systems;
- The Advisory Committee shall provide advice on strategic and business matters;
- The Advisory Committee shall be composed of Euronext Securities Porto Participants (Issuers and Financial Intermediaries) and the most representative Market Associations and Market Infrastructures;
- The chairperson of the Advisory Committee shall be a highly experienced Euronext Securities Porto staff member;
- The Advisory Committee is invited to organise its work in such way that it follows the meeting schedule as agreed;
- The chairperson shall, in consultation with its members, invite external experts to the meetings on specific topics;
- The rapporteur shall be a member of Euronext Securities Porto’s staff.
- The meetings are scheduled by Euronext Securities Porto, and the respective invitation can be requested by the majority of the members of the Committee;
- The General Advisory Committee shall meet twice a year, in June/July and November/December;
- Euronext Securities Porto sends the agenda of the meetings at least 10 working days in advance of their date; the members of the General Advisory Committee may request the addition of items on the agenda whenever they fall within the scope of the Committee’s object;
- The deliberations of the Committee are merely advisory;
- Consultation processes are always conducted by Euronext Securities Porto;
- At the end of each meeting, minutes of the meeting are drawn up;
- In cases of reasoned urgency, or in the light of special circumstances, the Committee may be consulted by electronic mail. In this situation, Euronext Securities Porto will do its best efforts to give members a reasonable time to respond, taking into account the urgency of the issue.
The composition of General Advisory Committee is reviewed every two years.