Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A. Unipersonal – operating as IBERCLEAR – is the Spanish Central Securities Depository.
IBERCLEAR is a subsidiary of BME, the operator of all stock Markets and financial systems in Spain.
IBERCLEAR is a public limited company created pursuant to article 44 bis of Law 24/1988 of 28 July, introduced by Law 44/2002 of 22 November on the financial system reform measures.
IBERCLEAR is subject to Regulation (EU) no. 909/2014, on improving securities settlement in the European Union and on central securities depositories, and is regulated by article 97 et seq of the consolidated text of the Market Securities Act, approved by Royal Legislative Decree 4/2015, of 23 October.
In accordance with its rules and regulations, IBERCLEAR may provide the following services:
- Central depository or registry functions: IBERCLEAR is responsible for maintaining the book entry register of tradable securities represented by book entries.
- Managing securities settlement: Iberclear processes the transfer of securities and cash by means of securities transfers and sending the agent the cash settlement of payment orders resulting from instructions carried out on such securities.
Related to maintaining of the book-entry register
- Services related to the register of securities holders
- Coporate actions processing, including tax services and those related to attendance to General Meetings and related information.
- Services relating to new issues, such as the allocation and management of ISIN codes and similar services.
- Order routing and processing, fee collection and processing, and related information.
Associated with the management of securities settlement systems
- Organising a securities loan acting as an agent among the participants on a securities settlement system.
- Iberclear provides an instructions validation, matching and maintenance service for securities and cash transfer orders.
- Real guarantees services as an agent among the participants on a securities settlement system.
Links with other CSDs
- Establishing links with other Central Securities Depositories, managing securities accounts related to this settlement service, real guarantees , etc.
- Providing with regulatory information.
- Supplying information, data and market statistics to census or other government or intergovernment departments.
- IT services.
- Providing with general services or securities real guarantee services as an agent.