As part of the Foreign Securities Transaction Services, the CSD supports all corporate actions that result in cash or securities distributions (dividends, capital return, re-investments, capital increases, splits/reverse splits, mergers, etc.).
The CSD supports the execution of corporate actions effected on the foreign securities that are recorded in the DSS as of the record date.
The CSD is continuously informed by Providers both on new corporate actions and changes in corporate actions in progress, processes the relevant information , enriches or confirms it through other sources of information, where necessary, and forwards it to the Operators that have subscribed to the Foreign Securities Transaction Services.
Depending on the corporate action, the CSD may collect the corporate action option chosen by the investor, through its Operator, which is afterwards forwarded for implementation to the Providers.
The execution of corporate actions can be divided into two stages:
- The Provider executes the corporate action in the centralized account of the CSD.
- As a result of step 1 above, the CSD executes the corporate action in the cash settlement accounts of the entitled investors Operators (in case of cash distributions) and/or directly in the investor's Securities account in the DSS (in case of securities distributions or transformations).
It is noted that the CSD distributes the proceeds (cash or securities) resulting from a corporate action only after it has received the respective proceeds in its centralized accounts held with the Provider.
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