Danske Bank provides settlement services to remote members of the
Stockholm Stock Exchange on the following conditions:
A Clearing Member (“CM”) is a direct clearing member of VPC and thus participates in VPC’s clearing and settlement. A Clearing Member does not need a connection to VPC; instead it may designate an account operator to register and administer the transactions on its behalf. To become a Clearing Member, you will need to apply to, and sign agreements directly with, VPC. You shall identify Danske Bank as your “Payment Bank” and “Account Operator".
A Clearing Member Identity (“CID”) is a sub-clearing member under a Clearing Membership. To obtain a Clearing Member Identity you must ask Danske Bank to complete the relevant forms and apply to VPC for the setting up of the CID. Danske Bank will automatically be identified as the Account Operator and Payment Bank.
A remote member of the clearing system will also need a local agent bank to issue a settlement guarantee in favour of VPC and to undertake the settlement of the securities trades.
We assist prospective remote members in the entire registration process to ensure a smooth migration to active membership of the Stockholm Stock Exchange.