Since 1 April 2017 Centrálny depozitár cenných papierov SR, a.s. (CDCP) is applying new procedures for provision of services to issuers with aim to provide services in more effective and simpler way, and to provide information to issuers more transparently.
Helpful changes in method how services are provided to the issuers of book-entry securities and to the issuers of paper-form registered shares, which are valid from 1 April 2017, were enabled by implementation of CDCP Terms of Trade. Except rights and obligations of CDCP and the issuer, new Terms of Trade are governing also procedures for concluding agreements and submitting requests for services. In case of book-entry securities this applies to submission of requests for services related to opening of issuer’s registry, securities issue registration, registration of changes in data on the issuer or securities issue in the issuer’s registry, registration of details on book-entry securities to the accounts and termination of the issue registration.
Specific changes which make provision of CDCP services for the issuers simpler belong mainly:
- simplified form and method how to submit the requests for services,
- conclusion of certain agreements and amendments is replaced by submitting of an instruction,
- possibility to place the request for service via post,
- desist from submitting certain documents.
Placing of request without being present in person
„With exception of registration of new issues, where personal presence of the issuer is still required by CDCP, for all other services related to book-entry or paper-form securities, newly it is possible to place instructions or request provided with verified signatures also via post. This option will be appreciated mainly by the issuers who had to travel to Bratislava from different parts of Slovakia to receive CDCP services.“ states Iveta Macková, Head of Issue Department of CDCP. “It is still possible, of course, to place the requests for services in person. Our clients are always welcomed in CDCP.“ added Ms. Macková.
Electronic forms
Some services for which an agreement or supplement to the agreement had to be concluded will be performed more simply – by placement of the instruction. Compared to previous procedures novelty is that until now all agreements were prepared exclusively by CDCP on basis of client’s request. Currently the clients can prepare the agreements or instructions by themselves only by completing the forms available at web pages of CDCP and sending of two signed copies of the document via post to CDCP address.
More transparent information
Moreover, thanks to implementation of generally binding Terms of Trade it was possible to make these agreements and form much shorter, what made them more lucid and comprehensible. Lesser number of pages for printing will also contribute to markedly lower consumption of paper. „Our plan is to make the whole process fully electronic in the future, including signature and placement of the requests, therefor the documents in paper form shall not be needed at all.“ informs Iveta Macková.
More flexible services for all issuers
CDCP is recommending to the issuers who registered their securities issues and lists of shareholders before 31 March 2017 to accede to the Terms of Trade through concluding separate supplement to already existing agreement. This will allow these issuers to benefit from more simple, flexible and faster submission of requests.
More information is available on CDCP web page in section Issuers at link:
http://www.cdcp.sk/links.php?id=43.
