Creation Link Guide - Denmark

09.09.2016

Key features

VP systemT2SRemarks
Settlement free of paymentYes No 
Settlement against paymentYes YesVP system - Eligible settlement currency: Danish Krone (DKK)
T2S - Eligible settlement currency: Euro (EUR).
Bridge settlementYes Yes 
Partial settlementNoNoVP Securities will not offer partial settlement and therefore it is not applicable to settlement in T2S with counterparties that access T2S via VP Securities in the interim period.
Settlement penalty feesNoNo 
Hold and releaseYes No

VP System: Pre-matching is available.

T2S: The T2S functionality "Hold and release" will not be available in for VP Securities eligible securities.

Transaction linking

(Back-to-back processing)

Yes NoThe linking of settlement instructions in T2S will not be available for VP Securities eligible securities.
AllegementsYes Yes

VP System: Via the CSD on against payment transactions only.

T2S: Yes

Bilateral cancellationYesYes 
Registered securitiesYes Yes 
Transaction managementYesNoMarket claims and transformations will not be available.
Multi Market SecuritiesYes YesT2S: Limited to settlement with CSDs being in T2S
Lending and borrowingYes Yes 
Proxy votingYes Yes 
Investment FundsYesYes 
Liquidity Hub ConnectNoNo 
Sale and purchase of rightsYes Yes 
Repo servicesYesYes 
Market restrictionsNoNo 
FTTNoNo 
FATCA GIINYesYesMQ79H2.00000.LE.208
MiscellaneousNoNo 
Type of linkCSD or settlement method
Direct link to the CSD, VP Securities for securities in book-entry formVP Securities S/A