The Securities Lending Management Service (SGE) is an IT platform, managed by Euronext Securities Porto, which allows the Financial Intermediaries and other similar Entities:
- Register and disclose information to the Participants related to the lending and borrowing of securities;
- Confirm the characteristics of the lending operation between the counterparties;
- Carry out the securities and cash settlement for opening and closing operations.
A securities lending operation consist of two linked settlements, the opening and the closing operations, that are processed in the system under the conditions agreed between the counterparties of the operation.
The system allows the registration of a lending request instruction or offer of securities without identifying the counterparty Participant and being disseminated by all the Participants of the system.
It is also possible to identify the counterparty Participant in the registration of a lending request instruction or offer of securities, in which case this information is only disseminated to the counterparty Participant (bilateral registration).
The System also allows the registration of lending operations, in which the Participant in the SGE has both the functions of borrower and lender (in-house lending’s).
As soon as the lending instruction is confirmed, the information is transmitted to the counterparties informing them that the lending operation is confirmed. This operation will be opened immediately if the lending opening date is the date of confirmation of the transaction, otherwise it will be opened at a future date agreed by the parties.
Please Note: Portugal uses WET (Western European Time), which is -1 hour than CET (Central European Time).