*Comparison of the risks and costs applicable for both types of securities accounts is provided bellow.
| Feature | Client omnibus account opened on behalf of AB SEB bankas in central securities depository Nasdaq CSD SE |
Client owner account opened in the name of the investor in central securities depository Nasdaq CSD SE |
|---|---|---|
| Segregation of securities | Securities owned by the investor are segregated from the assets owned by the central securities depository and it‘s participants, also by the bank itself, however, are not segregated from the assets owned by other clients of the bank. | Securities owned by the investor are segregated from the assets owned by all other persons and/or legal entities (the central securities depository itself and it‘s participants, the bank itself and other clients of the bank). |
| Registration of securities ownership and identification of the investor | Top tier (central securities depository) accounting level. | Lower tier (bank) accounting level. |
| Applicable insolvency law | Securities shall not be affected by insolvency proceedings of centran securities depository or AB SEB bankas. However, since the exact number of securities belonging to a particular investor is determined at the lower tier accounts maintained by AB SEB Bankas, in case of insolvency proceedings, insolvency resolution of the affected accounts might not be as efficient and fast, i.e. it might be more difficult to determine the number of the investor’s securities and investor itself. |
Securities shall not be affected by insolvency proceedings of central securities depository or AB SEB bankas. Furthermore, since the exact number of securities belonging to a particular investor is determined at the top tier accounts maintained by the central securities depository, in case of insolvency proceedings, insolvency resolution of the affected accounts is more efficient and fast, i.e. the determination of securities belonging to the investor and investor itself is faster and more efficient. In case of insolvency proceedings of AB SEB bankas, right to administer the owner account opened in the name of the investor at central securities depository can be transferred to another account operator (full portability). |
| Risk of the use of securities |
Securities that belong to the clients shall not be used in transactions, that are made by AB SEB Bankas for its own account or for other AB SEB Bankas clients account, unless the client has given its prior consent to such transactions. The central securities depository shall not use the securities that do not belong to it except in the cases when prior consent of the account operator (AB SEB bankas) and its clients is obtained. |
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| Fees |
Securities account opening and monthly management fees are not applied. All the fees applicable for the securities account are specified in the Securities services fees and commission charges list (PDF). |
Securities account opening and monthly management fees are applied. All the fees applicable for the securities account are specified in the Securities services fees and commission charges list (PDF). |
