Estonia, Financial Services, Investments, Legislation

International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 09:06

Väärtpaberikeskus will continue as Estonian Central Register of Securities operator

BC, Tallinn, 17.07.2014.Print version
The Estonian government appointed at its Thursday session AS Eesti Väärtpaberikeskus (AS Estonian CSD) as the operator of the Estonian Central Register of Securities; the company is a subsidiary of the Tallinn Stock Exchange and the operator of the Estonian Central Register of Securities today too, Äripäev.ee/LETA reports.

The main task of the registry is to preserve shares, pension funds shares and other securities in electronic form, and organise settlements and other transactions with securities. All limited liability companies are obliged to register their shares in the register.

 

The cooperation with the Estonian CSD has lasted 20 years and the current contract ends with this year. The new contract is concluded by the Minister of Finance and it is valid for five years from the January 1, 2015.

 

The register is not financed from the state budget. Registration services are paid for by its clients – issuers (public limited companies) and banks and fund managers, who broker securities to investors. Registry service fees are approved by the Minister of Finance.

 

A state procurement was held to find a new central registrar. There were no other participants than AS Eesti Väärtpaberikeskus.





← Back↑ Up

Русский
Search site