Global Securities Services

UNICREDIT BANK IS A LEADER IN THE PROVISION OF CUSTODY SERVICES TO BOTH DOMESTIC AND FOREIGN FINANCIAL INSTITUTIONS IN THE CZECH REPUBLIC AND THE CEE REGION, AND IT IS ALSO A HOLDER OF PERMIT TO PERFORM DEPOSITARY TASKS. FOR MORE INFORMATION AS TO CUSTODY SERVICES, PLEASE VISIT: HTTPS://WWW.UNICREDITGROUP.EU/EN/BUSINESS/GLOBAL-SECURITIES-SERVICES.HTML

Global Security Services - Inbound

UniCredit Bank Czech Republic and Slovakia, a.s., Slovak branch (UCB CZSK) performs the management and settlement of securities (so-called custody services) through its Global Security Services (GSS) section for GSS clients based on contractual documentation, which entails a “Master Agreement”, “Sub-Custody Agreement”, “Service Level Agreement”, etc.

Clients communicate with UCB CZSK primarily through the Business Net for Securities (BNS) banking communication channel; however, they can also communicate through SWIFT messaging or through another channel based on their contractual agreement.

Custody services entail in particular

the management and settlement of domestic book-entry securities registered with Centrálny depozitár cenných papierov/the Central Securities Depository (CDCP a.s.) for local and foreign institutional investors alike;
the safekeeping of domestic securities in certificated form in own vault and their subsequent management and potential settlement (e.g. shares, government and corporate bonds or bills of exchange).

Management of securities entails:

the provision for mandatory corporate actions related to a client’s holding of book-entry securities, in particular payment of interest, dividends and other yields from securities for the account of the client;
the monitoring and notification of voluntary corporate actions relating to securities held by GSS clients (e.g. so-called squeeze-out of securities and the like);
the representation and voting of clients at general meetings of shareholders as instructed by clients (so-called Proxy Voting);
the management of client asset accounts in depositories and the registration and reconciliation of securities on these accounts.

Settlement of securities entails:

non-commercial (so-called Over-The-Counter or OTC) transfers of the above-mentioned securities from and to a client’s asset account registered with the respective depository (e.g. with the CDCP a.s.), exclusively as instructed by the GSS client;
the provision for financial clearing of these transactions with the NBS’s Clearing and, subsequently, on the client’s cash account held with UCB CZSK.

UCB CZSK is a full member of and participant in the CDCP a.s., the SKD and other local contractual securities depositories and provides servicing of its clients’ securities in strict accordance with regulatory and internally defined rules, always in the best interests of its clients.

Global Security Services - Outbound

UniCredit Bank Czech Republic and Slovakia, a.s. , Slovak branch (UCB CZSK) performs the management and settlement of securities (so-called custody services) through its Global Security Services (GSS) section for GSS clients on the basis of the “Agreement on Custody of Securities, Book-Entry Securities, Foreign Securities and Foreign Book-Entry Securities and Settlement of Transactions in Securities”.

Clients communicate with UCB CZSK primarily through SWIFT messaging; however, they can also communicate through the Business Net for Securities (BNS) banking communication channel or through another channel based on their contractual agreement.

Custody services entail in particular

the management and settlement of foreign book-entry securities registered with foreign securities depositories (e.g. Clearstream Banking Luxembourg - CBL, Euroclear – EOC, Bank of New York Mellon – BoNYM, BNP Paribas S.A. Branch in Poland – BNP PL and the like) for local institutional investors.

Management of securities entails:

the provision for mandatory corporate actions related to a client’s holding of book-entry securities, in particular payment of interest, dividends and other yields from securities for a client’s account through the relevant foreign depository;
the notification of adopted voluntary corporate actions relating to securities held by GSS clients;
the management of client securities accounts in the depositories and books of UCB CZSK and the registration and reconciliation of securities on these accounts.

Depository services

Depository services are provided to:

pension funds for pension management companies since the very beginning of pension savings on the Slovak market in accordance with the Act on Old-Age Pension Savings No. 43/2004 Coll., as amended.
supplementary pension funds of supplementary pension companies in accordance with the Act on Supplementary Pension Savings No. 650/2004 Coll., as amended.
mutual investment funds in accordance with Act No. 203/2011 Coll. on collective investment, as amended.

UniCredit Bank Czech Republic and Slovakia, a.s. , Slovak branch (UCB CZSK) is one of the largest depositories in the Slovakia as regards the controlled assets of pension funds. Our size and standing in this segment allow us to take an active part in the formation of the market environment for depository services.

UCB CZSK provides depository services under the surveillance of the National Bank of Slovakia. It supervises the statutory and regulatory restrictions in the investment of funds in pension management companies and investment funds.

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