Amsterdam
22 January 2013
Reporter: Mark Dugdale
Securities Lending default image
Dutch CSD goes paperless
Dutch central securities depository (CSD) Euroclear Nederland is doing its bit to achieve a paperless securities market in the Netherlands.

It recently completed the full-scale dematerialisation process of all Dutch securities classes (bonds, equities and depository receipts) for the Dutch capital market.

The process to eradicate physical certificates from being used for investment ownership began in the 1990s following a market-wide call to modernise and make the Dutch capital market safer and more efficient.

At the time, Euroclear Nederland’s vaults in Amsterdam held more than eight million pieces of paper representing client assets worth €800 billion.

Changes to Dutch securities law in 2000 allowed Euroclear Nederland to use a single global certificate to represent an entire issue, instead of printing an individual piece of paper for each certificate.

From 31 December 2012, all securities that were held in custody with the CSD had to be converted into either electronic book-entries or a global note.

Valerie Urbain, CEO of Euroclear Nederland, said: “I would like to thank all those involved in the dematerialisation process—it is testament to the exemplary co-operation and performance of our capital markets that we can successfully transform out-dated industry standards into better and safer processes. The legacy we are creating is one of security and ease—greatly benefitting all financial entities and their underlying clients by holding assets electronically.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
MiFID II unbundling compliance will be last-minute scramble for 85 percent
23 June 2017 | London | Reporter: Stephanie Palmer
Asset managers are cutting it fine in compliance with research unbundling rules under MiFID II, with 85 percent saying they expect to be compliant in Q4 2017 or later, ahead of the January 2018 deadline
ICMA: NSFR will make EU repo less attractive
23 June 2017 | London | Reporter: Drew Nicol
The association also point to increased automation of highly manual and labour-intensive processes of the market as a way to mitigate rising costs and create efficiencies
Caceis welcomes two new clients to TEEPI
23 June 2017 | Luxembourg | Reporter: Stephanie Palmer
Swiss Life Global Solutions, a Luxembourg-based insurance and wealth management provider, and European asset manager Amundi have joined the Caceis Tailored Electronic Exchange Platform for Investors
ECB to launch new faster payments system
22 June 2017 | Frankfurt | Reporter: Stephanie Palmer
The European Central Bank (ECB) is expanding its TARGET 2 instant payments system to facilitate retail payments throughout Europe
Clients demand innovation in custody
22 June 2017 | New York | Reporter: Stephanie Palmer
Custodians must embrace new technologies if they’re to survive in the digital age, according to a survey of sell-side executives by BNP Paribas Securities Services and TABB Group
Citi recruits Matthew Bax
21 June 2017 | London | Reporter: Barney Dixon
Citi has hired Matthew Bax as its Europe, Middle East and Africa (EMEA) head of sales for custody and fund services
Denise Voss re-elected as ALFI chair
21 June 2017 | Luxembourg | Reporter: Stephanie Palmer
The Association of the Luxembourg Funds Industry has re-elected Denise Voss to serve a further two years as chair of the board of directors
More news