ING Securities Services, Romania, has confirmed that a recent National Securities Commission decision will mean its clients using a local custodian on the Romanian market can appoint only local brokers that have a house account.
Who those local brokers are has not yet been announced. The CSD said it intends to publish a list of them shortly on its Web site.
“In order to be able to trade on the accounts opened on the Romanian market by custody clients, the brokers are ‘linked’ in the BSE and CSD technical systems directly to the respective accounts,” an ING spokesperson said. “If no link exists, the brokers can not perform any trades for the respective client.”