Author: Laura Ferreira

Euronext Securities Porto has decided to change its price lists with the main purpose of responding to client requests, encouraging the direct participation of financial intermediaries in more than one CSD of the Euronext Group, encouraging the integration of fund units in a centralised system, as well as contributing to the revival of the warrants and certificates market in Portugal.

Issuer Entities:

• Reduction of registration and cancellation fees for warrants and certificates;
• Reduction of processing fees for corporate events (namely capital reductions, income payments, splits and reverse splits) on fund units;
• Reduction of fees on operations resulting from the transfer of securities between different securities codes belonging to the same bond issue;
• Increase of fees charged for subscriptions/redemptions of open-ended funds that do not use the order routing functionality.

Financial Intermediaries

• Creation of a Family Fee, which grants discounts on settlement operations processed on the T2S platform, for Financial Intermediaries participating in more than one CSD of the Euronext Group (Euronext Securities Milan, Euronext Securities Copenhagen and Euronext Securities Porto);
• Reduction of fees charged for connecting via VPN to its private communications network;
• Reduction of fees for cross-border operations carried out by investor CSDs;
• Removal of the fee charged to Financial Intermediaries for subscribing to the service of notification/confirmation of events and general meetings;
• Increase of fees charged for the settlement of warrants and certificates.

Additional information can be found here.

Starting December 27, a new #Bot software will automate the task of assigning ISIN codes for commercial paper issues not registered in the centralised system managed by Euronext Securities Porto. 

This initiative was developed in close collaboration with Euronext Securities Milan, which has extensive experience in delivering #RPA (Robotics Process Automation) technology to support business processes.

This tool will allow Euronext Securities Porto to optimise the reliability, efficiency and accuracy of key processes, while contributing to the digitalisation of Euronext’s CSDs. 

Updating of the fees charged by Euronext Securities Porto, to Financial Intermediaries and Issuers, as from 1 January 2023.

Additional information about the Fee Books changes.

The Settlement Discipline Regime (SDR), a key requirement of the CSDR, came into force on February 1, 2022.

During the time preceding this date, Euronext Securities Porto provided information to their clients, promoted the dialogue and sharing with the Market and implemented, in its systems, the essential functionalities for the entry into force of this new regime.

The SDR will promote the operational efficiency of CSDs and thereby contribute to a timely and efficient settlement within the EU.

Additional information can be found here .

On 9 November 2021, Euronext announced that the Group’s four CSDs would now operate under the name Euronext Securities, with the ambition of pan-Europeanising and scaling up the business. In this article, Pierre Davoust, Head of CSDs at Euronext, lays out the three-year CSD strategy and explains how it will address the needs of local and international customers.

Read more.

Euronext Securities Porto is pleased to inform its clients of the forthcoming implementation of the Eurosystem Collateral Management System (ECMS) and the associated SCoRE standards, in addition to a new Corporate Actions platform.

This implementation will meet clients’ needs for increased compliance with standards and improved efficiency of Corporate Actions processing, modernisation of systems to provide greater flexibility, streamlined delivery and faster time to market, and harmonisation of services for clients across markets.

Read more.

Within the scope of the Shareholders Rights Directive II – Directive (EC) 2017/828, of May 17, 2017), INTERBOLSA implemented, on September 6, 2021, the ISO 20022 messages for the identification of beneficial holders and for the notification of General Meetings, as well as the identification of beneficial holders with record date in the past (up to 1 year).

Changes to INTERBOLSA Regulation No. 2/2016, introduced by INTERBOLSA Regulation No. 1/2021, can be consulted through the following LINK.

Promoted by Euronext Lisbon and INTERBOLSA, this session took place via Teams, on October 29, in which the main developments in demand and supply of funds in Portugal and trends in the evolution of the market structure were discussed.
The new features of INTERBOLSA’s Fund Order Routing platform (SFI) were also presented.

The speakers at this webinar were the following ones:

• Isabel Ucha (Euronext Lisbon)
• Rui de Matos (INTERBOLSA)
• João Pratas (APFIPP President)
• Emanuel Silva (IM Gestão de Ativos CEO)
• Corina Oliveira (INTERBOLSA)

A large number of participants joined this successful initiative, which proved to be relevant that INTERBOLSA and Euronext Lisbon continue to organize this kind of initiatives, with meaningful content for their Clients and for the Market.

If you have not had the opportunity to follow or want to review the webinar, you can access the recording at the link, only available in Portuguese.

You can also have access to the presentation of the session, only available in Portuguese.

With the announcement of the acquisition of VP Securities, the Danish Central Securities Depository (CSD), Euronext adds a third CSD to the Group, which already includes the CSDs of Norway and Portugal (INTERBOLSA). This is an important step forward in the accomplishment of Euronext’s strategic goals, namely to build the leading market infrastructure in Europe, and reinforce the Group’s pos-trade business.

It represents good news for Portugal and INTERBOLSA, insofar as the acquisition creates the necessary conditions for the development of new post-trade services, as well as the technological evolution of the CSDs’ platforms, while continuing to provide a set of highly reliable and efficient services to the local ecosystems.

More information here.

The Non-euro Currency Settlement System (SLME), managed by INTERBOLSA accepts, since September 30, 2019, the settlement and income payments related to Exchange-Trade Funds (ETFs) denominated in a non-euro currency.

The list of eligible currencies has also been extended to the:

The Non-euro Currency Settlement System processes the settlement of all operations in non-euro eligible currency, namely the settlement of operations carried out over-the-counter, the settlement of “non-clearable” market operations and the income payments and redemptions.

To properly accommodate these amendments, INTERBOLSA amended the INTERBOLSA Regulation No. 2/2016, the INTERBOLSA Circular No. 1/2016 and the INTERBOLSA Circular No. 4/2016.