Markups and markdowns

Our German CSD offers to hold ‘up to’ global notes in collective safe custody. These notes permit the efficient issuance of securities in tranches (markups), or the reduction of the issued amount (markdowns), as long as the specified maximum nominal amount is not exceeded.

As a result, issuers benefit from greater flexibility, as it is no longer necessary to generate or withdraw global notes each time the issued amount is changed.

Customers can further automate this process with our AutoDispo service. This service not only generates the necessary mark-ups but also automatically removes all unsold securities from the customer’s account at the end of the business day (markdown).

This means that issuers do not need to constantly monitor their issuance account or manually input markup and markdown instructions. The automation of manual interventions and scalable volumes makes processing more efficient and results in shorter delivery times.