All securities accounts in Estonia, Latvia and Lithuania 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 Nasdaq CSD by Account Operators using either GUI of Nasdaq CSD’s system or ISO 20022 messaging. Requests to open or maintain an account in the Estonian, Latvian or Lithuanian SSS are forwarded to T2S and after successful confirmation are finalized in the system of Nasdaq CSD. Account maintenance in Nasdaq CSD’s system thus triggers an immediate replication on T2S and is only processed after technical and business validation processes are completed on both the system of Nasdaq CSD and T2S.
|T2S SECURITIES ACCOUNTS|
|Nasdaq CSD account types||CSD Participant Account||CSD Omnibus Account||Issuance Account|
|Segregated Nominee Account||✓|
|Joint Owner Account||✓|
|Owner pledge Account||✓|
|Participant own account||✓|
|Participant pledge 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 GUI of Nasdaq CSD’s system and via messaging.
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.
Settlement in the Icelandic SSS does not take place in T2S and for that reason accounts are not replicated to T2S.
All actions are logged and traceable in the audit logs of the relevant systems.