All securities accounts are deemed to hold both T2S and non-T2S eligible securities and are replicated on T2S. Requests to open and maintain securities accounts are made to the Nasdaq CSD by account operators using either the CSD system’s GUI or ISO 20022 messaging. Requests to open or maintain an account are forwarded to T2S and after successful confirmation are finalized in the CSD system. Account maintenance in the CSD system thus triggers an immediate replication on T2S and is only processed after technical and business validation processes are completed on both the CSD system and T2S.

 

 

T2S SECURITIES ACCOUNTS
Nasdaq CSD account types CSD Participant Account CSD Omnibus Account Issuance Account
Nominee Account
Segregated Nominee Account
Owner Account
Joint Owner Account
Co-Owner Account
Owner pledge Account
Participant own account
Participant pledge account
Omnibus account
Distribution account

If any issues are encountered in T2S, account opening or maintenance will be suspended pending further investigation. The status of the replication is shown to the user on the CSD system’s GUI and via messaging.

After migration to T2S, all new accounts are opened as T2S accounts even if the securities account only has non T2S-eligible securities in the account. In this case, the account will have no balances in T2S.

All actions are logged and traceable in the audit logs of the relevant systems.