On September 18, Nasdaq CSD SE will join TARGET2-Securities (T2S)
AS Eesti Väärtpaberikeskus, the central securities depository in Estonia, has announced, that on September 15, 2017 AS Eesti Väärtpaberikeskus will merge with central securities depositories of Latvia and Lithuania.As a result of this merger, the three Baltic securities depositories will consolidate into one licensed entity Nasdaq CSD Societas Europaea (Nasdaq CSD SE) with the head-office in Riga and branches in Tallinn and Vilnius.
On September 18, Nasdaq CSD SE will join TARGET2-Securities (T2S). T2S is Eurosystems single platform for the settlement of securities transactions. The objective of T2S is to harmonise securities settlement in the euro area and to make the cross-border settlement simpler and more secure to investors. AS SEB Pank (SEB) will become a participant in Nasdaq CSD SE’s Baltic securities settlement systems and thereby connect to T2S through Nasdaq CSD SE.
The changes introduced with joining T2S are mainly of technical nature and relate to the settlement of securities transactions. All client agreements concluded with SEB shall remain in force. A separate announcement shall be made should there be any changes to the client agreements or services’ terms and conditions.
Please also note that due to the above September 15 is a non-settlement day and AS Eesti Väärtpaberikeskus is closed – this means that securities settlement does not take place on this day. In addition, there is no settlement of Baltic Stock Exchange transactions on September 15 and 18, i.e. the value date of the stock exchange transactions concluded on Baltic exchanges on September 13 shall be September 19; value date of transactions concluded on September 14 and 15 shall be September 20.
Please also note that settlement of voluntary pension fund units (third pillar) transactions are suspended on September 15 2017. The applications regarding third pillar pension funds can nevertheless be submitted at all times.
Further information is available from Customer Support 665 5100 or via Skype (username: seb.eesti).
