Custody

Slovenská sporiteľňa has performed the custody of securities for its clients since 1994. In 1999, this service was also widened to trade settlement on foreign markets (Global Custody). In connection to changes in the securities‘ evidence on the domestic market, Slovenská sporiteľňa has become a member of the Central Securities Depository of the Slovak Republic (Centrálny depozitár cenných papierov SR, a.s.) and it has widened its offer of custodian services also in the Slovak market (Local Custody).

CUSTODY OF SECURITIES IS THE EXECUTION OF ALL THE LEGAL ACTS REQUIRED TO PERFORM AND MAINTAIN THE RIGHTS RELATED TO SECURITIES.

According to cl. 41 of Act. No. 566/2001 Coll., on securities and investment services, custody of securities is provided on the basis of an agreement. Slovenská sporiteľňa will set up an account of a security owner for the client and a current account in a selected currency.

Custodian services are designed for the owners of securities, who have signed a Framework Agreement or a Custodian Agreement enabling them to be provided by custodian services in an extent, described below – for domestic institutional clients, which are commercial or pension insurance companies, custodian companies, brokers, corporate clients, cities and municipalities, as well as for natural persons.

Slovenská sporiteľňa, a.s. a custodian with professional care, performs all the necessary activities at a high professional level so the rights and obligations of the owner can be duly executed and on time.

Security transfers execution is performed on the basis of delivery/acceptance of a security in a set period, according to the instruction of the owner. Transfer confirmation is usually sent no later than the next business day.

Direct debit of dividends, interest and principal after a submission of the required documentation by the issuer or an agent of the payee and to the account specified by the owner. The custodian, in cooperation with the client or a foreign custodian of securities, secures taxation of capital gains yield according to the valid legal rules and international agreements.

Representation of shareholders at General Meetings on the grounds of the authorization and instructions of the owner.

Execution of preemptive rights and other ownership rights derived from securities in the ownership of the owner on the grounds of his authorization and instructions.

Portfolio management of the securities of the owner, separately from portfolios of other owners and Slovenská sporiteľňa. The system application enables transparent evidence of the state of portfolio changes, derived from portfolio sales/purchases and changes as a result of buying/selling of securities or any corporate events (related to securities).

Reporting – sending notifications about changes, state and the value of the portfolio and single securities, according to the owner‘s requirements. The owner obtains the statement from the securities account for free on the last day of the month, while other statements can be obtained on request. The statement contains the identification of the owner, as well as of each security, their number, actual price, total market value and other data.

Information service and communication – the owner communicates directly with designated employees at the headquarters of Slovenská sporiteľňa, who are available daily from 8AM to 5PM. The operational questions of the owner, related for example to securities in custody, securities account, settlement conditions of a trade, actual events, issue conditions, etc. are immediately responded or without any unnecessary delay. Information which has to be acquired from foreign sources (foreign custodian, information agencies, issuers), are processed and sent to the owner usually in two business days. Other questions which have to be consulted with lawyers, need specific information sources, or a translation into the Slovak language, are processed in the shortest time period possible.

Security and protection of securities and information – internal active and passive access to the account of the owner is limited to the authorized employees of Slovenská sporiteľňa. The principles of confidential information protection are strictly adhered to at an internal and external level. The four-eyes principle is applied to the maximum possible degree in respect of work procedures and during the processing of key operations when authorization/verification is needed. Orders by a foreign custodian are primarily sent by SWIFT. Internally approved and audited work procedures reduce the risk of theft, misuse or any unauthorized operation with securities to a minimum.

Fees & Charges
Settlement and clearing fees on the basis of an instruction by the client are set as flat-rates and are differentiated according to the respective markets. According to modern standards, they are settled on the day of settlement and clearing, executed on the basis of an instruction by the client. The maintenance fee is calculated as a percentage of an average intraday value of the portfolio, derived from a nominal value of debt securities and the market value of the equity securities. The maintenance fee is also differentiated according to the respective markets and invoiced or collected at the end of an invoice period, set in the agreement.

You can get more detailed information from the employees at the headquarters of Slovenská sporiteľňa, a. s. listed below during business days from 8AM to 5PM:

Securities&Funds Administration – Custody:

Andrea Ondrušková – ondruskova.andrea@slsp.sk, phone: +421 2 48 62 54 81
Mariana Juhászová – juhaszova.mariana@slsp.sk, phone: +421 2 48 62 54 79

Back-office for securities:

securities.settlement@slsp.sk, phone: +421 904 514 357, +421 904 514 169