Danske Bank offers a full range of cash and clearing services to remote members of the Copenhagen Stock Exchange, now part of the
OMX Nordic Exchange.
To be eligible for Exchange membership, an applicant must be authorised by the Danish
Financial Supervisory Authority or the corresponding authority in the applicant’s home country.
Remote members are required to operate as clearing participants in the Danish settlement and clearing system, VP Securities Services. Participation is granted when the following documentation has been submitted to and approved by VP:
- Participation agreement
- Legal declaration
- Cash settlement declaration
A remote member of the clearing system will also need a local agent bank to issue a settlement guarantee in favour of VP and to undertake the settlement of the securities trades. The remote member may continue to send settlement instructions via SWIFT or we can automatically receive the data from the Saxess trading system.
We assist prospective remote members in the entire registration process to ensure a smooth migration to active membership in the CSE. We service a large number of the current remote members of CSE and have extensive experience in remote membership arrangements.