HEX is an active member of European Central Securities Depository Association (ECSDA) and the links have been developed according to the ECSDA model and standards. The cross-border transactions are transferred by using SWIFT messages and for example all dividend payments are delivered through European Centralbank´s (ECB) TARGET-system.
HEX has already a link with Clearstream (Germany). This link covers Finnish and German equities and debt instruments. HEX has also a link with Sicovam (France) for Finnish and French debt instruments. ECB has approved both Clearstream and Sicovam links for collateral management purposes.
HEX has gained good experience in links. The volumes of the transactions have doubled and the market value of securities in the links has multiplied in a year.
The new links expand the selection of securities, which can be offered to the local investors. HEX continues negotiations concerning expanding links to other important European CSDs.
