Changes in securities services fees and commission charges

From the 18th of September 2017, with regards to Regulation (EU) No. 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories, AB SEB bankas changes its securities services fees and commission charges. Investors in the securities of Baltic markets will be given an opportunity to choose to keep their securities in an owner account opened in the investor’s name at the central securities depository or in an omnibus account opened in the name of the account operator (AB SEB bankas) at  the central securities depository.

Investors may  open such securities account at AB SEB bankas free of charge when their securities are safekept in an omnibus account opened in the name of the account operator (AB SEB bankas) at the central securities depository, i.e. any fee for the opening and management of such type of the securities account is not applied. Fees will not be applied for the opening and management of such type of securities account in future.

Investors will be able to safekeep their securities in an owner account opened in their own name at the central securities depository from the 18th of September 2017, when Nasdaq CSD SE (now the Central Securities Depository of Lithuania (CSDL)) successfully joins the European Securities Settlement Platform TARGET2-Securities (T2S). AB SEB bankas will apply the new securities fees for the opening and management of this type of securities account that come into effect from the 18th of September 2017.

Fees applicable for both types of securities accounts are specified  in the securities services fees and commission charges list (PDF, 74 KB).

When the securities are safekept in an omnibus account opened in the name of AB SEB bankas in the central securities depository, securities owned by the investor are segregated from the assets owned by the central securities depository and by the bank itself, but are not segregated from the assets owned by other clients of the bank.

When the securities are safekept in an owner account opened in the name of the investor at the central securities depository, the securities are segregated from the assets owned by the central securities depository, by the bank and by other clients of the bank.

The central securities depository shall not use the securities that do not belong to it except in the cases when prior consent of the account operator (AB SEB bankas) and its clients is obtained.