Access for Participants

Article 9 of IBERCLEAR's Rules and Regulations states which legal entities can become a Participant.

How to become an IBERCLEAR Participant

Those legal entities wishing to access IBERCLEAR services must fulfil the requirements established in the following regulation:

• Circular 4/2017 - Procedure for membership of entities of the securities registration and settlement system managed by IBERCLEAR.
• Circular 1/2018 - Procedure for membership of entities of the securities registration and settlement system managed by IBERCLEAR. Modifications of the letter of authorisation for crediting and debiting the payments module account.
• Circular 1/2020 - Procedure for membership of entities of the securities registration and settlement system managed by IBERCLEAR. Modifications of technical and functional requirements.
• Circular 3/2022 - Procedure for membership of entities of the securities registration and settlement system managed by IBERCLEAR
• Instruction 9/2023 - T2–T2S Consolidation. Amendment of Iberclear membership forms.
•                                        Appendix 1
•                                        Appendix 2
•                                        Appendix 2a-2d
•                                        Appendix 2e
•                                        Appendix 3
•                                        Consolidated text Circular 4/2017
• Circular 2/2024 - Modification of Circulars resulting from the elimination of the PTI and other changes. Project “REFORM 3”

The entity applying to access IBERCLEAR must produce the corresponding documentation. 

Once the relevant documentation has been reviewed and after performing a risk assessment, IBERCLEAR shall inform the entity on the acceptance or rejection of its application.

Iberclear shall reply to the request for access within a maximum period of one month.

Once the request has been accepted, technical tests shall be performed to verify compliance with the established requirements.

Forms and contracts for Participants

• IBERCLEAR access questionnaire
• Membership Agreement C04/2017. Appendix 2
• Specific membership conditions C01/2018. Appendix 2a
• Acceptance of the use of technical resources (or detailed report if relevant) C04/2017. Appendix 2b
• Acceptance of direct debit in the DCA C04/2017. Appendix 2c
• Acceptance of direct debit for invoicing in the RTGS account C04/2017. Appendix 2d
• Request to open auto-collateralisation accounts F18
• Request to register as Agent Entity F29
• Account-opening request in the Central Register F01
• Request to link accounts F02
• User request for BME-PC. F19
• Connectivity Form
• Authorisation to Central Bank
• Target Services Form
• Test approval certificate
• List of authorised signatories

Documentation request