The move was initiated by World all trade to ensure security of investment brokerage services provided to clients.
DC – between a state institution that, being a part of the European Depository System, is directly involved in depository activities, keeps records of depositories in the depositary system and exercises control over them.
The main purpose of the Depository Center is to fulfill such obligations as keeping securities in the prescribed manner, ensuring cash and non-cash circulation of securities, maintaining a register of shareholders, registering purchase and sale agreements and owners of securities, as well as other custody services.
Operated by the London Stock Exchange: the only central agency that clears, registers and settles stocks, bonds, derivatives and other securities. The price received as a result of sale and purchase transactions by exchange and OTC members, clearing obligations, as well as obligations to pay securities that are the subject of purchase and sale are in the process of being finalized on the account via DC.
The European Depository Center provides the following services to joint stock companies, as well as private and institutional investors:
- Preservation of securities issued in documentary and non-documentary form;
- Keeping a register of owners of securities;
- Registration of transactions concluded by transfer of ownership of securities;
- Registration of the right of ownership of securities;
- Registration of facts of encumbrance of securities;
- Consolidation, conversion, splitting of securities, as well as other global operations;
- Clearing and settlement of transactions on the exchange.