TASECH for Companies Traded in Israel and in Europe (Dual Securities)
TASECH has an account at EUROCLEAR BANK (EB) that is based in Brussels, Belgium and acts as an international central securities depository (ICSD) of the EuroClear group (The Group). The group consolidates European depository's that are owned by its members. The group acts as a central custodian (CSD) and provides a range of settlement and custodian services to the European market and the global markets as well.
EB has 842 European depository members and 444 non-European depository members. EB offers access to 40 different stock markets and provides settlement and custodian services for approx. 1 million European and non-European variety of securities.
In addition, EB is a licensed Bank that provides bank services.
EB is rated +AA by the FITCH global rating company and AA by the Standard & Poor's (S&P) global rating company.
EB total managed assets (for Q1/2018) amounted to approx. 28.5 trillion EURO's.
Since September 2017, TASECH has an account at EB that holds and settles securities that are traded in Tel Aviv and in Europe.
EB provides services for 120 countries in 16 different languages with 50 different currencies.
TASECH provides the following services to companies that hold their securities at EB:
- Security delivery from Israel to Europe and form Europe to Israel.
- AGM voting services.
- Stamp duty service.
Inventory transfer between Europe and Israel
Inventory transfers between Europe and Israel are carried out via RF (Receive Free) instructions to transfer inventory from the European member's account to the TASECH member's account and DF (Delivery Free) instructions to transfer inventory from TASECH member's account to the member's European account.
Shareholders meeting services
The service is given via company request. The company provides the meeting schedule and details and according to this information, TASECH members deliver TASECH their voting instructions from their clients. A member is allowed to deliver voting instructions only for his shares entitlement. TASECH will vote via EB according to its members voting instructions.
Stamp duty service
The service in given to companies that were incorporated in England and are traded in London stock exchange (LSE). The stamp duty tax is generated due to an RF (Receive Free) instruction to transfer inventory from the European member's account in LSE to TASECH member's account.
EB/DTCC dual securities list >