Market Link Guide - Lithuania
CSD link as defined under CSDRa
Type of link
a. CSD Regulation (EU) No 909/2014 art. 2 (29)
Nasdaq CSD SE (branch in Lithuania)
AS SEB Pank, Tallinn
Country of incorporation
Nasdaq CSD SE is incorporated in Latvia and operates the Lithuanian Settlement System through the Lithuanian branch, which is governed by Lithuanian Law.
Legal Account name / holder
The account is in the name of Clearstream Banking Luxembourg S.A. Clients under AS SEB Pank as custodian and Nasdaq CSD SE.
Clearstream Banking S.A. Clients
Settlement in T2S
Settlement free of payment
Settlement against payment
Eligible settlement currency: Euro (EUR).
|Settlement against payment in central bank money account of CBL/CBL customers||No||CBL holds a cash account at the custodian. Against payment settlement in EUR takes place on the custodian’s DCA at the local central bank.|
Settlement penalty fees
In cases of delay of settlement date (SD), a service fee is applied at Nasdaq Baltic exchange. The service fee for the postponement of the SD due to the default of the transaction consists of a fixed proceeding fee (EUR 70) and an added percentage (0.1%) of the transaction value for each trading (business) day with a maximum up to EUR 500. The proceeding fee is a one-off fee but the added percentage is applicable for each trading day by which the actual SD of the transaction differs from the initial SD (= Value Date) of the transaction. Any related service fees applied on any customer late transactions will be debited to the impacted customer as out of pocket fees.
Hold and Release
Multi Market Securities
Lending and borrowing
Debt securities only.
CSD-eligible investment funds only.
Liquidity Hub Connect
Sale and purchase of rights
|Link eligible for use in Eurosystem credit operations||No|
|Moment of entry||Validation performed on the T2S platform, according to the T2S rules.|
|Settlement finality||Settlement in T2S is simultaneous, final and irrevocable.|
The below section is based on the legal opinion obtained by CBL that was issued on 22 February 2017. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.
No insolvency proceedings against the custodian
Custodian’s liability for negligence
Book-entry regime with in rem rights
The ownership title and the right in rem to the securities credited with the custodian belong to the underlying customers of the custodian, such as CBL, unless such underlying customers are not disclosed / known to the custodian. The relationship between the custodian and its underlying customers is to be construed as a trust, while the custodian benefits from a right in rem as a trustee.
Recognition of nominee concept
No right of retention to the custodian
Segregation of assets at the custodian
No right of use
No upper-tier attachments
Insolvency of the custodian with no impact on CBL's rights
Shortfall pro-rated among holders
Settlement finality in case of insolvency
|Record keeping period of at least 10 years||Confirmed|