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Financial Market Infrastructure Services
For the Asset Management industry, and legal entities such as corporates (BV, LTD, GMBH etc.) foundations and cooperatives, AFS Execution Services BV in close cooperation with AFSE-Venues BV (both subsidiaries under AFS Group) offer multiple services which can be applied stand alone or in different compositions. AFS provides an infrastructure that also serves the clients behind our clients such as the (retail) investor serviced by Asset Managers and Shareholders (investors) of companies, a business to business to consumer services.
AFS offer the following individual services:
Affiliated institutions Euroclear
Securities are protected under the WGE if they are placed in a giro deposit (Euroclear). On the basis of the WGE, only an institution affiliated with Euroclear can keep a collective depot within the meaning of the WGE (art. 9 WGE). An affiliated institution is defined in the WGE as the company that has been admitted as such by the central institute (art. 1 WGE).
AFS Execution Services is an affiliated institution of Euroclear Nederland.
Custody
The administration of securities under regulatory supervision. The services include safekeeping of a client’s assets and having responsibility for timely and accurate recordkeeping of activity related to those assets, such as:
- Accurate giro secured administration and recordkeeping of your securities.
- Corporate action services such as stock splits, dividend or coupon payment.
- Settlement of transaction (delivery versus payment).
- Tax reporting to the relevant tax authorities and annual statements to clients/investors.
Cap table management
A capitalization table, also known as a cap table, is a spreadsheet or table that shows the equity capitalization for a company. A cap table is where a company keeps track of all its different owners. AFS provides software to create and manage cap tables.
Issuer agent
AFS can act as Issuer agent. An issuer agent can be appointed by an issuer of a security for the purposes of administration of the security issue or processing of a corporate action.
Payment services via AFS payment bank account the RAV
AFS in collaboration with ABNAMRO Clearing bank, provide clients of AFS in the capacity of Investors in via AFS offered assets, and/or Investors of clients of AFS, and /or companies and each individual securityholder of that company, with a Segregated Payment Account (Rekening Afgescheiden Vermogen (RAV)). This RAV is set up in a way that the funds will not be affected by a default of AFS Execution Services. Deposits on the RAV are also covered by the Deposit Guarantee Scheme in the Netherlands. AFS provides the following services via the RAV:
- For (retail) Investors of Asset Managers, the transfer of cash, with the purpose of buying or selling of the assets (investment) of the individual investor.
- For companies, the transfer of cash, with the purpose of buying or selling for the by AFS offered assets.
- For primary issues, the collecting of the funding of the individual investor and transfer this to the issuing company.
- For corporate actions, the collecting of interest, coupon or principal payment from the company and transfer this to the specific investor (bond certificate or equity holder) of that company.
- For secondary trading (the buy and sell on the trading venue), the collection of the buyer to transfer the cash to the seller under the guarantee of delivery versus payment. A RAV always needs an offset account with a European bank with an IBAN. The RAV can only be used in a closed system only for investment-related activities.
STIP: Solution to Investment Processing software
For asset managers, brokers or (private) banks, STIP is an application that serves as a trading/administration platform. With STIP, you independently administer the complete processing of securities orders and related money transactions. Your own orders and positions or those of your clients can be recorded in the application. STIP is a multi-currency system for recording, administering and processing securities orders in shares, bonds and investment funds. Money movements and corporate actions are naturally recorded. It also supports the reconciliation of transactions and positions. As a core banking platform, interfacing with custodians, portfolio management systems and reporting, among others, is an important element of the application and is widely facilitated. Together with Mylette AFS provides this SAAS solution or BPO solution for Investment firms who have a custody license themselves.
Tradability via Vennex
Via our brand Vennex (in the entity AFS E-Venues BV) AFS operates a digital trading venue (an exchange) with a Multilateral Trading Facility license (MTF). Vennex provides tradability for, by the company, AFS Client and/or Crowdfunder admitted and approved, investors and security holders. Vennex provides tradability in securities such as Bonds, Equity, Certificates and Environmental Instruments such as EUA and GOs. Via Vennex investor can carry out unlimited security transactions without the intervention of a notary. All under the trading restrictions of the specific company or crowdfunder.
- Via Vennex MTF you can organize your own auction.
- Vennex will take care of the instant security/instrument and cash transfer between buyer and seller and the additional adjustment in the security/instrument administration.
For the avoidance of doubt: Vennex doesn’t offer public trading and/or the raising of capital for primary issues. A Multi Trading Facility (MTF) is a type of trading venue where financial instruments are exchanged under supervision of the regulator(AFM). MTFs are described as ‘multilateral’ because they have multiple users that are capable of interacting with each other to set prices.