Depository service- this is a kind of commercial services that are associated with storage as well as with operations to change their owner. An organization that has a license to carry out depository activities enters into an agreement with a shareholder who transfers his assets to it for storage. as well as investments Money, have nothing to do with depository services, despite the fact that these concepts are consonant.
What do depository services mean?
According to the depositary, who wishes to transfer their securities for storage to the depositary organization, they assign an individual account in the same way as is done with ordinary settlement and savings accounts. Only securities are credited to the account in this case, and not cash. And the unit of measurement here is precisely certain assets, and not a specific amount of currency. Banking services for legal entities are now very diverse.
The shareholder has the right to manage his account, as well as the assets stored on it, as he sees fit. This can be done using a special interface, as well as software provided by the depository organization. These transactions are also very similar to those performed in relation to conventional accounts. What are the service rates?
Payment to the organization providing custody services shall be made in proportion to the number of days during which the depo account was opened. This is about 0.12% per annum, at least 10 rubles a day. No fee is charged for holding assets that have expired. For example, opening a new holder will cost approximately 10,000 rubles. For each transaction on behalf of the depositor (the person who made the deposit), a fee is charged from 150 to 800 rubles, depending on its type.
Custody services for individuals and legal entities include:
These benefits include:
Depository service individuals assumes that clients have the right to issue securities as collateral for obtaining bank guarantees or loans.
To secure the fulfillment of any obligations related to loans and bank guarantees, the following securities are accepted - bills, savings, as well as certificates, shares, assets of the constituent entities of the Russian Federation and municipalities, corporate issuers and credit institutions, as well as ordinary shares of OAO NK Lukoil, OAO NK Rosneft, OAO Rostelecom, OAO Gazprom, RAO UES of Russia, OAO Surgutneftegaz, OAO GMK Norilsk Nickel and others.
Banking services for legal entities differ significantly from those that can be provided to individuals. The difference lies in their very nature. economic relations and participants in financial transactions. On the one hand, the range of services for organizations and companies is much wider than for citizens, and on the other hand, the responsibility here is much higher. These services include:
The Russian stock market is gaining momentum every year, and there are many who want to buy various securities. Today, most papers exist in in electronic format and placed in specific accounts. In addition to electronic records, their counterparts in the form of familiar documents (certificates and bills) are still common. For accounting and storage, many banks offer to act as a depository. Owners can re-register, keep records and store their exchange-traded assets. Since banks work with a license, they can carry out the procedure for paying dividends and make settlements on completed transactions. Similar custody services are provided to customers by Sberbank, which has the confidence of many investors.
The institution has a perpetual license for the depository, which gives it the right to serve investment funds. Depositors apply electronic signature. With its help, they can remotely conduct everything financial actions with exchange-traded assets by sending the orders necessary for this. EDS guarantees the confidentiality of transmitted orders.
Custody services at Sberbank include the following operations:
Depositary services The Sberbank Online platform gives customers additional features:
To carry out such actions, just go to Personal Area on the site.
One of the significant positive aspects for clients who have concluded an agreement for custody services with Sberbank is that it is the largest depository in the Russian Federation. Due to the huge number of divisions, its functions include the maintenance more than 390 thousand depo accounts. The Bank offers its depositors (both residents of the Russian Federation and non-residents) a variety of services and transactions with exchange-traded assets of issuers from the Russian Federation and other countries. Clients receive these services in 70 divisions located throughout the territory of the Russian Federation. To exchange information with depositors, remote service systems (“Bank-Client”, EDI, SWIFT) are used. The bank's specialists developed a unique "Depository" system, which makes it possible to carry out accounting in conditions of strict observance of the safety of information.
Benefits of a depository The depository service offered by Sberbank includes low fees. Some services for depositors are free. Thanks to this, small businesses can use the service to work with exchange assets. The Bank has set different fees for custody services for individuals and legal entities. Tariffs for individual entrepreneurs are the same as for legal entities. You can get acquainted with the list and tariffs on the website by going to the "Depositary Services" section.
The depositary of Sberbank PJSC rightfully occupies a leading position in its market segment. However, despite the growing activity of the population in matters of exchange activity in 2019, many still do not know what it is.
Subdivision is perceived as a depository financial institution acting as a professional participant in exchange activities. This division, unlike brokers, assumes responsibility not for the implementation of the purchase and sale processes, but for the accounting and storage of securities, as well as records of actions with them.
A client wishing to purchase securities must open a depo account for their crediting. On this account they will be listed and with its help they will be managed.
Maintenance of such accounts is carried out by the depository.
Services are provided for both businesses and individuals. persons.
What is the Sberbank depository used for:
Depository activity - Financial services related to the storage of securities certificates and accounting for the transfer of rights to securities. A professional participant in the securities market, carrying out depository activities, is called a depositary. A person who uses the services of a depository for safekeeping of securities and recording rights to securities is referred to as a depositor. The agreement governing their relationship is called a depository or depo account agreement.
Own depository in investment company is the simplicity and reliability of the conclusion of transactions. The combination of brokerage and depository services allows to reduce the time of execution of Clients' orders, reduce the costs associated with registering the transfer of ownership of securities. Provides timely transfer of dividends, a guarantee of the timing of re-registration of securities.
Many years of experience in stock market convincingly demonstrated that only companies that pay serious attention to the development of customer services and the expansion of the number of services remain successful. Provision of high-quality services in the securities market is not possible without well-organized work of the depository.
The depositary of JSC IC OEMK-Invest provides its clients with all basic services for maintaining depositary accounts and accounting for transactions with securities:
Opening and maintenance of depo accounts, storage and accounting of securities, carrying out operations on the account;
Depo account management through the Manager, Operator or Account Trustee;
Re-registration of ownership of securities;
Registration of the fact of encumbrance of securities with obligations;
Servicing of corporate securities and bills;
Registration as a nominal holder of securities with registrars, other depositories;
Provision of information about the issuer, transmission of messages from the issuer and the registrar;
Facilitating the realization of securities holders' rights to their securities;
Other operations on behalf of the Clients.
The depository of JSC IC OEMK-Invest closely cooperates with the Central Depository of JSC NCO NSD. In 2014, trading depo accounts intended for DVP transactions were opened in the Central Depository:
Owner's trading depo account intended for DVP trades;
Trading depo account of the Trustee intended for DVP transactions;
Trading depo account of a nominee intended for DVP transactions.
The term DVP ("Delivery versus payment" is a literal translation of the English term "Delivery versus payment") is commonly used to denote the principle of settlement of transactions with securities, which ensures the simultaneous transfer of money to the seller and securities to the buyer. This principle allows both parties to the transaction to avoid the risk of lending to the counterparty. The use of this settlement mode is possible for all securities accounted for by NCO CJSC NSD.
Advantages of JSC IC OEMK-Invest:
Deep knowledge of the market and extensive experience;
Results-oriented team of professionals;
Individual approach to Clients and their needs;
Low cost of depositary services;
High degree of reliability.
YYYYMMDD Date
ABXXXXXXXXXX ISIN security code
XXXXX Client Depo Account
XXXXXXXXXXXXXXXXXXXX Client's money account
YYYYY Counterparty account
YYYYYYYYYYYYYYYYYYYY Cash account of the Counterparty
ABCDRUMM SWIFT Client code
DCBARUMM SWIFT Counterparty Code
To conduct transactions in the DAY LIGHT mode in the SETDET block, add one more field: 22F :, in which to specify: :22F::RTGS//YRTG
To cancel an order, a message with the CANC function is used. A message with the CANC function is used as a request to cancel previously sent messages. If the message function is CANC, then field:20C: "Reference" shall contain the number of the message to be canceled.
:20C::PREV//Reference of previously sent related message
On February 29, 2012, the French parliament approved and adopted a law introducing from August 1, 2012 a tax on financial transactions with securities.
Financial Transaction Tax (FTT) applies to all purchase transactions that result in a change of ownership, regardless of the place of settlement and the place of the transaction, with French financial instruments and securities (including depositary receipts, the underlying asset of which is taxable shares). Taxation is subject to transactions involving the acquisition of securities of companies registered in France and having a market capitalization of more than 1 billion euros on January 1 of the fiscal year, as well as those admitted to listing on the organized market of France or outside it.
The following types of transactions are not subject to tax under French tax law:
The Participant must independently determine whether his transaction falls under the above exceptions. Any transactions with taxable securities, including those not subject to taxation, must be declared.
Lists of ISIN codes of securities, transactions with which are subject to taxation, are published on the information portal stock exchange NYSE EURONEXT Paris and website news agency Six Financial Information.
From August 1, 2012, the tax rate is 0.2% of the transaction amount. The tax is paid in euros, regardless of the currency of the taxable transaction. Examples of tax calculation can be found on page 8 of Euroclear Bank S.A./N.V.
The taxpayer, according to French law, is the buyer of the securities (the ultimate investor).
The depositor is responsible for independent study of the current requirements of the authorized bodies foreign states, transactions with securities that he carries out, and, in particular, determining whether his transaction is subject to taxation and / or declaration, and for the timely payment of taxes and fees. The Depositor is responsible for the completeness and correctness of the information provided, as well as its timely provision.
The depositor can send a tax return:
In accordance with the law on tax on financial transactions, when filing a declaration directly, buyers of securities are required to independently complete a tax return and submit it no later than the date indicated in the attached documents to the French tax authorities. For more information, please contact:
If the Depositor submits a declaration through the Depository, he is obliged to submit it together with an instruction for the transfer of securities (via SWIFT, the Bank-Client system or in documentary form with the seal of the organization and signatures of authorized persons).
If the declaration involves the payment of the amount of tax, simultaneously with the submission of the declaration, the Depositor must ensure the availability of funds on his bank account with VTB Bank in the amount of the tax indicated in the declaration, and authorize the Depository in writing to write off the corresponding amount. In case of absence bank account in VTB Bank, the Depositor has the opportunity to support the Bank's account with the MRCC directly, or pay the Advance invoice issued by the Depository in the amount of money to pay the tax.
Commissions of the IRCC related to the submission of the declaration to the tax authorities of foreign states shall be reimbursed by the Depositor at the actual cost.
In the event that the Bank's account is debited or claims are made to the Bank for any taxes, fees or penalties for a delay in the submission of declarations / payment of taxes and fees due to the fault of the Depositor, such amounts are subject to immediate reimbursement by the Depositor.
In accordance with paragraphs. 3.3.8, 4.5.2 of the Terms of Depository Activity The Depository has the right not to accept an instruction for execution until the above documents are received.
tax legislation France provides for the collection of fines by the tax authorities for the inaccuracy and inaccuracy of the data specified in the declaration in the amount of 150 euros, as well as for the cancellation of an incorrectly drawn up declaration in the amount of 500 euros. Commission Euroclear Bank S.A./N.V. for late submission of the declaration is 15 euros, more details in the official news release.
More detailed information on the tax collection procedure, rules and deadlines for filling out and submitting a declaration can be found in information messages Euroclear Bank S.A./N.V. Additional advice can be obtained from the Depository Operations Department.
On December 24, 2012, the Italian parliament approved and adopted the 2013 budget law, which provides for the introduction of a tax on financial transactions with securities (Financial transaction tax - FTT) from January 1, 2013. On February 21, 2013, the Ministry of Economy and Finance of Italy issued a special Decree (Treasury Decree), which determines the procedure for taxing these transactions.
Financial Transaction Tax (FTT) applies to all transactions resulting in a change of ownership, regardless of the place of settlement and the place of the transaction, with Italian financial instruments and securities. Taxation is subject to transactions on the acquisition of shares and other equity financial instruments (including depository receipts, the underlying asset of which is taxable shares) of companies registered in Italy and having an average monthly market capitalization of more than 500 million euros as of November of the year preceding the reporting year, admitted to listing on the organized market in Italy or outside it, as well as the conversion of bonds into shares of an existing issue.
Timing
Tax is levied on transactions with an actual settlement date starting from March 1, 2013. The tax must be transferred to the Italian tax authorities no later than the 16th day of the month following the reporting one. For transactions with a settlement date between March 1 and September 31, 2013, the tax payment deadline is October 16, 2013.
Exceptions
According to the Decree, the following types of transactions are not subject to taxation:
The Participant must independently determine whether his transaction falls under the above exceptions. If the amount of tax on a transaction is less than 50 euros, such a transaction is not subject to taxation and must be excluded from tax return. All other transactions with taxable securities, including those not subject to taxation, must be declared.
The list of ISIN codes of securities, transactions with which are subject to taxation, is published on the information portal of the Italian stock exchange Borsa Italiana.
For 2013 the tax rate is:
The taxable base and amount of tax are calculated separately for each payer and for each financial instrument.
The tax is paid in euro regardless of the currency of the taxable transaction. If the amount of the transaction is expressed in another currency, the taxable base is determined based on the exchange rate established by the European Central Bank on the date of settlement.
In accordance with the legislation of the Italian Republic, there is a list of countries (“white list”) with which Italy has bilateral agreements on the exchange of tax information. The application of certain provisions of the Decree will depend on the inclusion of the country in the specified list. Russian Federation included in the "white list".
The taxpayer of the FTT (Tax Payer), according to Italian law, is the actual buyer of securities (final beneficial owner). In general, the taxpayer is responsible for the calculation, collection and transfer of FTT to the Italian tax authorities (Tax Collector). However, if the transaction is concluded through a financial intermediary (Intermediary) or a chain of intermediaries, the responsibility for calculating, collecting and transferring the tax lies with the intermediary who received the purchase order directly from the ultimate beneficiary (the actual buyer of the securities).
The role of custodians in the collection and payment of the Italian tax on financial transactions is currently not defined. Based on information received from Euroclear Bank S.A./N.V. (for details see Newsletter NN 2013-N-050 dd 07/10/2013), the client can:
pay tax through the Italian Central Depository - Monte Titoli;
In the event that tax is remitted through Monte Titoli, the tax payment deadline for the period March 1, 2013 to September 31, 2013 is November 10, 2013. More detailed information you can find the procedure and procedure for paying tax through the Central Depository on the Monte Titoli website.
transfer the tax directly to the Italian tax authorities.
In this case, the taxpayer is obliged to obtain an Italian Tax ID by filling out a special form and providing an official document confirming the registration and existence of a legal entity.
