Changes in securities settlement system and securities services fees

From the 18th of September 2017 Central Securities Depositories in Lithuania, Latvia and Estonia merged into one Baltic Central Securities Depository Nasdaq CSD SE successfully join the European Securities Settlement Platform TARGET2-Securities (T2S).

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 are  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 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 and risks applicable for both types of securities accounts are specified here. 

We also inform that from the 18th of September 2017, with regards to new legal acts requirements transaction rules for the securities safekept in issuer account type securities accounts in the central securities depository are changed. In case investor does not have an agreement signed with AB SEB bankas for securities accounting and safekeeping, AB SEB bankas shall continue to provide all current services related with the safekeeping and accounting of securities safekept in issuer account type in central securities depository, however, investor shall not be able to receive or transfer securities to issuer type securities account in any form other than the inheritance when the inhereted securities are safekept in issuer type of account untill agreement for securities accounting and safekeeping with AB SEB bankas is signed.

More infornation about the types of securities accounts offered by AB SEB bankas and the rules for securities transactions could be found at the branch offices of AB SEB bankas, on the website  www.seb.lt or by calling 1528 (for private customers) or 19222 (for business customers).