Securities operations

The Central Depository executes the following operations:

1. Operations related with Stock events. Issue of securities, cancellation of securities registration, as well as other events taking place on the initiative of the issuer or depending on his will, which change the parameters of securities of the issuer and (or) securities issue registration accounts holding these securities, shall be deemed as the stock events. The stock event shall be considered to have taken place when on the basis of the documents submitted by the issuer or the account manager managing personal accounts of securities issued by the issuer, the Central Depository makes corresponding entries in the securities issue registration accounts. More information is available in the Accounting Rules for Financial Instruments and Their Circulation .
2. Operations related with free-of-payment (FOP) securities transfers. The FOP securities transfers according to the place of transfer may be local, executed in the Baltic market and through the Central Depository's account in the settlement system of Clearstream:
1. Local FOP transfer is executed upon placement by an account manager through the Messaging system of the document in the established format - FOP securities transfer instruction - by which the account manager instructs the Central Depository to transfer securities from its general securities account to the general securities account of another account manager (or accept securities from the general securities account of another account manager to its own general securities account. The FOP transfers may be executed from day T to T+30 after placement. More detailed information may be found in the Securities Transfer Rules.
2. By means of a Baltic market's FOP transfer it is possible to transfer Lithuanian securities to the settlement systems of Latvian and Estonian depositories and accept Latvian and Estonian securities to the SSS of the CSDL. In these cases account managers may also place the document of the established format - FOP securities transfer instruction - through the Messaging system.
3. International securities can be brought to own account with the Central Depository by FOP transfer through the Central Depository's account in the settlement system of Clearstream
3. Trading operations related with the DVP (Delivery versus Payment) securities transactions. The DVP securities transactions can be differentiated according to the place of transaction between the stock exchange DVP transactions and over-the-counter (OTC) DVP transactions:
1. The Central Depository processes transactions concluded on the Vilnius Stock Exchange, Riga Stock Exchange and Tallinn Stock Exchange. In all the cases information on stock exchange transactions reaches the Central Depository through common Baltic Database. The title to the securities traded on the Stock Exchange transfers on settlement day:
• The settlement cycle duration of automatically matched trades for shares is T+3, and for Government securities - T+1.
• The settlement cycle duration of manual trades is from T+1 to T+6.
• The settlement cycle duration of transactions concluded during the public sale of shares, execution of the tender offer and public offering of a share issue is T+3.
2. The Central Depository processes both local and cross-border (through the account with Clearstream) OTC DVP transactions. In the case of OTC DVP transactions, the title transfers on an agreed settlement day.

Top