The Board of the Estonian Central Register of Securities (CSD) approved the application of Handelsbanken to obtain the status of account administrator of the CSD.
The Estonian CSD has a total of 10 registered account administrators, including two foreign account administrators.
The status of account administrator of the Estonian CSD allows Handelsbanken to offer its clients custody and trading in securities in the Baltic countries as well as the possibility of expanding its client base and diversifying the services which it offers.
Connections to the Estonian CSD will be handled via Handelsbanken Nordic Custody Services Finland offices with a cash clearing arrangement handled via the Handelsbanken Estonian office.
“Handelsbanken is enlarging its operation in terms of physical presence and business areas in Estonia and also in other Baltic states. Therefore becoming a member of Tallinn Stock Exhange is in this process very important for us and our clients”, says Harri Tuohimaa, head of Handelsbanken in Estonia.
The Estonian CSD is the administrator of a joint electronic central register for securities in Estonia. The register keeps accounts of all public limited companies, securities and funded pension accounts in Estonia. The last company to obtain the status of account administrator of the CSD was Latvias biggest bank Parex Banka, in March 2005.