With respect for the tradition, Euronext Securities Oslo, together with its partners, hosted the annual Post Trade Norway conference on 4^th March this year.

This was the fifth conference in a row, and this year the interest was greater than ever with almost 200 entries and 150 participants. Unlike previous years, this year’s conference was conducted corona friendly on Teams.

Participants were given the pleasure of listening to exciting and focused lectures, from key persons in the Norwegian, Nordic and international securities markets. There were a number of relevant topics. We started with a review of the 2020 stock exchange year seen from Oslo Børs, and then transitioned to European regulations and harmonisation initiatives, not to mention what these mean for the Norwegian post trade market. Secondly, we learned about two exciting development projects from SWIFT and SIX respectively. Finally, Euronext Securities Oslo shared its thoughts and reflections on trends and developments in the market.

Euronext Securities Oslo notifies proposed changes to the VPS Rules on Anti-Money Laundering and Sanctions. We ask that any comments on the proposals are received by Euronext Securities Oslo by 19 May 2021

Under the current VPS Rules and General Terms and Conditions, account operators must comply with the obligations to which a securities register is subject pursuant to the Norwegian Anti-Money Laundering Act or equivalent foreign regulations. This arrangement is not in accordance with the new Anti-Money Laundering Act, pursuant to which it is the account operators of a securities register that uses external account operators that are subject to the obligations specified in the Act, not the securities register itself. Euronext Securities Oslo is thus proposing that its rules should be changed such that it is account operators that are obliged entities that have to comply with the obligations contained in the Norwegian Anti-Money Laundering Act or equivalent foreign regulations, in accordance with the new Act.

Securities fund management companies are, together with account operators investor, obliged entities for shareholders of the securities funds they manage. Normally, a securities fund management company applies customer due diligence measures for shareholders when they subscribe for units and before a customer relationship is established. This, however, is not possible where an account operator investor transfers fund units from one account to another account. Where a recipient of such a transfer is not yet a customer of the securities fund management company concerned, such a transfer means that the securities fund management company is not in compliance with the requirements of the new Anti-Money Laundering Act. Euronext Securities Oslo therefore proposes changing the VPS Rules for Registration of Financial Instruments and the General Terms and Conditions such that it is the party carrying out such a transfer that, once it has obtained consent from the recipient of the transfer, provides the securities fund management company with the requisite information, and that it should not be permitted to transfer the fund units without first securing the approval of the securities fund management company. Euronext Securities Oslo also proposes that the party transferring the fund units should also provide the information and documentation that has to be obtained pursuant to the Norwegian Tax Administration Act regarding where account holders and beneficial owners are resident/domiciled for tax purposes and whether they are American citizens (CRS/FATCA). 

The relationship between Euronext Securities Oslo and its account operators with regard to the implementation of international sanctions is not currently regulated in either the VPS Rules or the General Terms and Conditions. Euronext Securities Oslo proposes inserting into these two documents a stipulation that Euronext Securities Oslo shall conduct searches in the international sanctions lists published by the EU, the UN and the USA, and a stipulation that if Euronext Securities Oslo or an account operator becomes aware that an issuer or account holder may be subject to international sanctions, they shall inform each other of this. Euronext Securities Oslo also proposes that account operators should be required to ensure that they take the measures needed to uncover whether issuers and account holders are subject to such sanctions, and to implement the sanctions required.

Consultation on AML and Sanctions (pdf)

Euronext is pleased to announce that clearing arrangements are being put in place for the Euronext Growth Oslo Market (EGO), with the same interoperability as the other Oslo Børs Markets

The External User Acceptance platform (EUA) will be open for testing on 2 June 2021, and the target production date is 28 June 2021.

Clearing-enabled-for-Euronext-Oslo-Growth-Market

Euronext Securities Oslo has begun a partnership with OwnersRoom, a provider of platforms for investor-related processes. Through this collaboration, customers of OwnersRoom can access shareholder information registered in Euronext VPS directly from the OwnersRoom platform. The collaboration is part of an ongoing focus at Euronext Securities Oslo to work with Fintechs to bring greater value to investors and private companies.

Founded in 2017, OwnersRoom is an investor and deals platform that provides companies with tools to manage investor and funding processes professionally and efficiently. OwnersRoom customers with shares issued in Euronext Securities Oslo can now keep track of their shareholders and shareholder movements via the OwnersRoom platform. Read more about Ownersroom here.

The collaboration offers a number of benefits for both companies, shareholders, and other stakeholders, e.g.:

• The shareholder register managed in Euronext Securities Oslo is directly available for OwnersRoom customers, ensuring investors and other stakeholders are updated on current ownership – increasing shareholder interest and activating investor engagement
• Customers of OwnersRoom are provided a seamless feed of the cap-table into their room from Euronext Securities Oslo, the golden standard for a shareholder register, removing the need for manually maintaining the shareholder register in OwnersRoom
• OwnersRoom offers a scalable solution for growth companies, now also enabling an easier transition for companies that want to use Euronext Securities Oslo to manage their shareholder register

Announcing a new brand name, Euronext Securities, for Euronext’s CSD activity.

Euronext Securities unites the four CSDs that now make up the Euronext CSD network: Euronext VPS (Norway), INTERBOLSA (Portugal), Monte Titoli (Italy), VP Securities (Denmark).

As a result, Euronext VPS is now called Euronext Securities Oslo.

The new name demonstrates our commitment to harmonise systems and processes across our CSDs, while keeping local expertise and presence at the core of our businesses.

Euronext press release 8 November 2021