INTERBOLSA has implemented a VPN IPSEC Tunnel solution which allows its participants to connect to the INTERBOLSA Wide Area Network (WAN) via Internet.

This solution aims to decrease connection costs, namely for remote customers, as well as to reduce the installation time of the communication lines used in current solutions (ADSL or optic fiber).

The amounts to be charged by INTERBOLSA are defined in point 7.1 of the price list of the Financial Intermediaries.

In INTERBOLSA’s price list was also included a new fee for the backup connection, through optic fiber, to INTERBOLSA’s communication network.

Following the implementation of the CR 694 by T2S, the partial settlement window of 07:00 and 14:45, now have the following schedule: from 07:00-07:30 and 14:30-15:00 (WET).

The aim of this change is to increase the settlement efficiency to allow further processing and settlement of more instructions.

In order to properly accommodate this amendment, INTERBOLSA has changed the notice of the timetables (amendment of paragraph 5).

Today, September 3, 2020, INTERBOLSA implemented in its systems the necessary changes in order to comply with the Shareholders Rights Directive II (Directive 2017/828, of May 17, 2017), namely the requirements needed and defined in the Regulation 2018/1212, of September 3, 2018.

Therefore, the amendments to the INTERBOLSA’s Regulation 2/2016, as introduced by INTERBOLSA Regulation 1/2020, can be accessed through the following LINK

Promoted by Euronext Lisbon and INTERBOLSA, this session took place via Teams, on October 29, in which the main developments in demand and supply of funds in Portugal and trends in the evolution of the market structure were discussed.

The new features of INTERBOLSA’s Fund Order Routing platform (SFI) were also presented.

The speakers at this webinar were the following ones:

• Isabel Ucha (Euronext Lisbon)
• Rui de Matos (INTERBOLSA)
• João Pratas (APFIPP President)
• Emanuel Silva (IM Gestão de Ativos CEO)
• Corina Oliveira (INTERBOLSA)

A large number of participants joined this successful initiative, which proved to be relevant that INTERBOLSA and Euronext Lisbon continue to organize this kind of initiatives, with meaningful content for their Clients and for the Market.

If you have not had the opportunity to follow or want to review the webinar, you can access the recording at the link, only available in Portuguese.

You can also have access to the presentation of the session, only available in Portuguese.

Publication date: 10th April 2024     

Report date: 5th April 2024

Market participants' market share : 

Financial participants' market share : flat VS last week and down by -6% year on year

Market participants' net positions :

Financial participants' net position :

Part of hedging in the commercials' positions :

Data explanations :

* Financials = Investment firms (as defined in MIFID II), Credit institutions, Investment funds (either undertaking for collective investments in transferable securities or alternative investment fund manager) and other financial institutions including insurance and reinsurance undertakings and institutions for occupational retirement provision

* Commercials = Commercial activities (defined in ESMA guidelines ref.2013/611) and operators with compliance obligations under Directive 20003/87/EC

Data source :

https://live.euronext.com/products/commodities/commitments_of_traders

Publication date: 10th April 2024     

Report date: 5th April 2024

Market participants' market share :

Financial participants' market share : down by -2% VS last week and down by -4% year on year

Market participants' net positions :

Financials' net position :

Part of hedging in the commercials' positions :

Data explanations :

* Financials = Investment firms (as defined in MIFID II), Credit institutions, Investment funds (either undertaking for collective investments in transferable securities or alternative investment fund manager) and other financial institutions including insurance and reinsurance undertakings and institutions for occupational retirement provision

* Commercials = Commercial activities (defined in ESMA guidelines ref.2013/611) and operators with compliance obligations under Directive 20003/87/EC

Data source :

https://live.euronext.com/products/commodities/commitments_of_traders

Publication date: 10th April 2024     

Report date: 5th April 2024

Market participants' market share :

Financial participants' market share :  down by -2% VS last week and down by -3% year on year

Market participants' net positions :

Financial participants' net position :

Part of hedging in the commercials' positions :

*Data explanations :

* Financials = Investment firms (as defined in MIFID II), Credit institutions, Investment funds (either undertaking for collective investments in transferable securities or alternative investment fund manager) and other financial institutions including insurance and reinsurance undertakings and institutions for occupational retirement provision

* Commercials = Commercial activities (defined in ESMA guidelines ref.2013/611) and operators with compliance obligations under Directive 20003/87/EC

Data source :

https://live.euronext.com/products/commodities/commitments_of_traders

Updating of the fees charged by Euronext Securities Porto, to Financial Intermediaries and Issuers, as from 1 January 2023.

The consequences of the pandemic and the Russian invasion of Ukraine have prompted an inflationary spiral that has been taking place in Western countries, including Portugal. In the course of 2022, the inflation rate has been growing every month, having accelerated since February 2022. If the pandemic had already brought a major shortage of raw materials, the war in Ukraine caused an energy crisis with the consequent increase in energy prices, as well as substantially reducing the global supply of food, with significant global impacts in several areas of activity. The outlook for inflation in Europe and for global economic developments is uncertain, but inflation rates are expected to reach two digits in Europe.

In this geopolitical and economic context of inflationary pressure, Euronext Securities Porto has decided to change the price list to be applied to the services provided to Financial Intermediaries and the price list to be applied to the services provided to Issuers. It should be noted that, since 2005, Euronext Securities Porto has made significant price reductions for both Financial Intermediaries and Issuers. The occasional price increases made since 2005 have essentially affected securities that were exempt from maintenance fees. In 2017, following the price increase communicated by the ECB – European Central Bank, resulting from the use of the T2S platform, Euronext Securities Porto revised and consequently increased the prices related to settlement services.

Euronext Securities Porto continues to invest in updating its technology and in the talent of its human resources to support the needs of its clients, in addition to maintaining high levels of investment to face operational changes resulting from new regulations with an impact on Euronext Securities Porto’s activity and from European projects, namely those led by the ECB. In this context, it should be noted that, in the recent past, Euronext Securities Porto decided not to burden the Portuguese market by adapting its systems (which was substantial) to implement Settlement Discipline in the Portuguese market, as it was done by other European CSDs.

Throughout 2022, Euronext Securities Porto absorbed the increased costs (of suppliers, energy, and equipment), but due to the current economic and inflationary environment, it became necessary to share a portion of these cost increases with our clients.

Therefore, from 1 January 2023, the commissions charged by Euronext Securities Porto will be updated by 5.9%, which is well below the inflation rate forecast by the Portuguese government and international entities.

It was also decided not to increase the commissions on some products or services, such as:

• settlement of OTC instructions;
• maintenance and subscription / redemption of funds
• identification of holders and,
• T2S information.