Author: Daniel Silva

The present amendment adapts the functionality of the automatic processing of subscription and redemption operations of units of open end investment funds to the changes occurred with the migration to the TARGET2-Securities (T2S).

This functionality uses a mechanism of order routing of subscription and redemption which allows the financial intermediaries to send orders to the entity responsible for their acceptance and execution, usually the custodian entity.

To duly accommodate the changes resulting from the adaptation process to the T2S platform, INTERBOLSA issued INTERBOLSA Circular 1/2017, which revokes INTERBOLSA Circulars 1/2010 and 1/2011, as well as the amendment to INTERBOLSA’s notice related to the timetables.

This new image is a reflection of INTERBOLSA’s history, which goes back a quarter of century. For the past 25 years, we have been working every day to meet our customers’ needs, offering the highest quality services.

Following the migration of INTERBOLSA’s settlement systems to T2S, we inform that, after the assessment made by the ECB/Eurosystem, INTERBOLSA continues to be eligible for use in Eurosystem monetary policy and intraday credit operations, in accordance with the “Framework for the assessment of securities settlement systems and links to determine their eligibility for use in Eurosystem credit operations”.

Euronext announces that the Portuguese Central Securities Depository INTERBOLSA, a subsidiary of Euronext Lisbon, has successfully completed the migration to TARGET2-Securities (T2S), one of the largest infrastructure projects launched by the European Central Bank – Eurosystem…

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The roll-out of T2S has moved forwards as the Portuguese and Belgian central securities depositories (CSDs) – INTERBOLSA and National Bank of Belgium Securities Settlement System (NBB-SSS) – successfully completed their migration activities, as scheduled, over the Easter weekend and started operating on the platform as of 29 March 2016.

The two CSDs made up the second wave of the T2S migration plan approved by the Governing Council of the ECB. The Belgian and Portuguese markets’ compliance with the T2S harmonisation standards was assessed prior to their migration and is presented in the Sixth T2S Harmonisation Progress Report.

Due to the migration to T2S some of the services currently provided by INTERBOLSA to its customers, was changed, and, therefore, the currently charged fees will be adjusted.

INTERBOLSA analysed all the possible solutions regarding its price list, in this new regulatory framework, and decided to maintain in force the current structure of the price list. Therefore the price list has suffered small changes in order to allow for the migration to T2S.

The amendments relate mainly to the settlement services provided by INTERBOLSA to its participants through the T2S platform, taking into account the type of instructions that can be settled through that platform, in particular, OTC instructions, market instructions, maintenance instructions, settlement restrictions, …).

These amendments to INTERBOLSA’s Price List (INTERBOLSA’s Regulation no. 3/2016), come into force in March 25th, 2016 and can be consulted in the “Legislation and Regulation” area of this Portal.

INTERBOLSA has decided to proceed with a new reduction of its Price List (maintenance fees for Issuer Entities).

This amendment represents a new effort in what concerns the development and expansion of the Portuguese capital markets, regarding the direct integration of securities, namely of debt instruments, in the centralised securities system managed by INTERBOLSA.

This amendment to INTERBOLSA’s Price List (to table XIII (A) of the annex of the INTERBOLSA Regulation no. 6/2005), came into force on 1 January 2016 and is available in the “Information and Documentation” area of this Portal.

With the purpose of to harmonize the billing periods within the Euronext Group, INTERBOLSA hereby announces that has amended INTERBOLSA Regulation No. 6/2005, related to its Price List.

Therefore, the current daily billing established by INTERBOLSA for the collection of some of its commissions, namely the ones related to the exercise of rights, will be amended and from 1^st of July the commissions will start to be invoiced on a monthly basis.