Custody-Depository services

/Custody-Depository services
Custody-Depository services 2017-11-03T18:22:18+00:00

Custody, Depository services

Eurivex is licensed to offer safekeeping and custody services for holding financial instruments.

Eurivex is an approved Cyprus Stock Exchange Custodian firm under whose responsibility the listed financial instruments may be maintained and clears stock exchange transactions as a CSE Member firm.

Moreover, Eurivex has custody arrangements for holding assets in CREST, Clearstream and Euroclear.

Total Assets under custody are currently USD 3 billion.

Custodian Firm for Alternative Investment Funds (AIFs)

Alternative Investment Funds (AIFs), subject to some exceptions, require the services of a bank or licensed investment firm to act as the custodian of assets.

Eurivex offers Custody/Depository services to select number of Alternative Investment Funds (AIFs).

AIFs can be setup as single funds or umbrella funds with unlimited number of compartments, with each compartment having its separate shareholders/unit holders, assets and unique Net Asset Value (NAV).

Cyprus CSD Depository

For listings on the Emerging Companies Market of the Cyprus Stock Exchange (ECM/CSE), the registry can be maintained in both the Cyprus CSD Depository and CREST.

A Central Securities Depository is a specialist financial organisation holding securities such as shares in dematerialized form so that ownership can be easily transferred through a book entry rather than the transfer of physical certificates.

Eurivex will setup and facilitate the registry setup on behalf of clients including conversion of the registry from paper to electronic form.

When the registry is maintained in the Cyprus CSD Depository, trading on the financial instruments is only possible in euros, the official currency of Cyprus.

When the registry is maintained in CREST, trading on the financial instruments can be either in euros or sterling pound.

All investor financial assets may be held in the Cyprus CSD Depository or CREST via an account relationship with Eurivex.

CREST registry

CREST is the UK-based central securities depository that holds UK equities, UK gilts, as well as Irish equities and other international securities in dematerialized form.

For listings on the Third Market of the Vienna Stock Exchange, the registry must be setup and maintained in CREST, Clearstream or Euroclear.

Eurivex can setup the registry in CREST on behalf of Issuers through other regulated intermediaries and also act as Custodian for the financial instruments.

Omnibus account

As a regulated and licensed firm, Eurivex offers an Omnibus Account service, whereby in the Registry of Issuers maintained with the relevant Depository, Eurivex appears in the public records as the “owner” of the financial securities, whereas in fact, the securities are held on behalf of Eurivex customers.

When Eurivex is maintaining the Omnibus service for Issuers whose financial instruments are listed on recognized stock exchanges, Eurivex will allow for transfer of the listed financial instruments from one account to the other within Eurivex Omnibus account.

Issuers with large registry of financial instrument holders may choose to use the Eurivex Omnibus account to lower maintenance fees payable to the Depository and at same time lower transaction fees for their clients.