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Generation and management of securities to be issued as dematerialized securities
Definition of DEMATERIALIZED securities
A dematerialized security a registered security without serial number, where the securities account contains the name of the owner of the securities and the data for clear identification of the owner. The dematerialized security is the sum of data containing the formal requirements of the security in an identifiable manner, created, forwarded and registered electronically, in line with the provisions of the Act on the Capital Market and applicable separate regulations.
The series of signs digitally represents all the requirements of the security defined in regulations, the total nominal value of the entire series issued and the number of securities issued.
Short description of services provided by KELER Zrt. in relation to dematerialized securities:
KELER as central depository is obliged and entitled to create, credit to central securities accounts and manage (modify, cancel) all securities issued as dematerialized securities with public or private placement in Hungary. KELER creates, modifies and cancels dematerialized securities pursuant to agreements executed with Issuers of securities and at the instruction of the issuers.
In relation to dematerialized securities (hereinafter referred to as: DEMAT securities) the following actions (hereinafter referred to as: demat event) can be executed:
- Generation of DEMAT securities
The dematerialized securities series is created and credited to central securities accounts as an electronic sign.
- Additional issuance of DEMAT securities
The increase of the number of pieces issued and the total nominal value issued on the central securities accounts of the dematerialized securities series created earlier as an electronic sign.
- DEMAT securities instrument change
Dematerialized event that does not change the quantity of securities on securities accounts, such a change can be due to changes in the data of the securities series (e.g. tenor; change to the name, the interest terms, yield payment and assignment of the securities) and to changes to the data of the Issuer (e.g. Issuer name is changed).
- DEMAT securities conversion (except for: converting closed-end investment unit into open-end investment unit)
Generation of a dematerialized securities series that is related to securities series (demat or physical) (predecessor) already existing on securities accounts and includes the cancellation of the predecessor securities series.
- Partial cancellation of DEMAT securities
Decrease of the nominal value pieces issued and the total nominal value issued on the central securities accounts of the dematerialized securities series created earlier as an electronic sign.
- Cancellation of DEMAT securities
The cancellation on the central securities accounts of the total nominal value pieces issued of the dematerialized securities created earlier as an electronic sign and termination of the dematerialized securities as an electronic sign.
Details of the service (sub-points):
Details of the service (sub-points):
The dematerialized event concerned is executed by securities types and based on documents governing the dematerialized event to be executed.
DEMAT equities (.pdf, 94 Kb)
DEMAT debt securities (.pdf, 95 Kb)
DEMAT investment notes (.pdf, 97 Kb)
What should the Client do if it whishes to use this service?
The Issuer or its representative informs KELER in writing on its intention and also sends the order form of the dematerialized event concerned to DEMAT Department, staff members of the DEMAT Department will contact the representative of the Issuer.
The condition of using services related to dematerialized securities is the existence of ISIN, thus as the first step the ISIN is to be requested for the series to be generated.
Once the securities are accepted by KELER, the Issuer or its representative is to provide data to KELER in line with the executed agreement.