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Euroclear Finland
Euroclear Finland is the central securities depository (CSD) of Finland, headquartered in Helsinki. It is a fully-owned subsidiary of the Euroclear Group. Overview In June 1989, the Bank of Finland, the Finnish government and the Helibor banks established Helsingin Rahamarkkinakeskus Oy (HRMK, ) as the national CSD for government bonds, other bonds, and bank certificates of deposit. The central bank was HRMK's controlling shareholder. That same year, Osakekeskusrekisteri Osuuskunta (OKR, ) was established as a CSD for shares listed on the Helsinki Stock Exchange. Both HRMK and OKR started operations in the spring of 1992. They were both replaced in 1995-1996 by Arvopaperikeskus Oy (APK, ), a single system fostered by the Finnish government, which took over the operations of both HRMK and OKR. In December 1998, APK merged into the Helsinki Exchange, by then known as HEX. On , OM HEX AB, by then the owner of both the Finnish and Swedish stock exchanges, announced that APK would merg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Securities Depository
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities such as shares or bonds, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily transferred through a book entry rather than by a transfer of physical certificates. This allows brokers and financial companies to hold their securities at one location where they can be available for clearing and settlement. In recent decades this has usually been done electronically, making it much faster and easier than was traditionally the case where physical certificates had to be exchanged after a trade had been completed. In some cases these organizations also carry out centralized comparison and transaction processing such as clearing and settlement of securities transfers, securities pledges, and securities freezes. In modern corporate debt markets, investors achieve collateralization through CSDs. The CSDs operate as trustee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finland
Finland, officially the Republic of Finland, is a Nordic country in Northern Europe. It borders Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland to the south, opposite Estonia. Finland has a population of 5.6 million. Its capital and largest city is Helsinki. The majority of the population are Finns, ethnic Finns. The official languages are Finnish language, Finnish and Swedish language, Swedish; 84.1 percent of the population speak the first as their mother tongue and 5.1 percent the latter. Finland's climate varies from humid continental climate, humid continental in the south to boreal climate, boreal in the north. The land cover is predominantly boreal forest biome, with List of lakes of Finland, more than 180,000 recorded lakes. Finland was first settled around 9000 BC after the Last Glacial Period, last Ice Age. During the Stone Age, various cultures emerged, distinguished by differen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Helsinki
Helsinki () is the Capital city, capital and most populous List of cities and towns in Finland, city in Finland. It is on the shore of the Gulf of Finland and is the seat of southern Finland's Uusimaa region. About people live in the municipality, with million in the Helsinki capital region, capital region and million in the Helsinki metropolitan area, metropolitan area. As the most populous List of urban areas in Finland by population, urban area in Finland, it is the country's most significant centre for politics, education, finance, culture, and research. Helsinki is north of Tallinn, Estonia, east of Stockholm, Sweden, and west of Saint Petersburg, Russia. Helsinki has significant History of Helsinki, historical connections with these three cities. Together with the cities of Espoo, Vantaa and Kauniainen—and surrounding commuter towns, including the neighbouring municipality of Sipoo to the east—Helsinki forms a Helsinki metropolitan area, metropolitan are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euroclear Group
Euroclear, or the Euroclear Group, is a Belgium-based financial market infrastructure group that specialises in the central securities depository (CSD) segment. It traces its origins to the Euro-clear System developed in 1968 by Morgan Guaranty (a predecessor of JPMorgan Chase) in Brussels to settle trades on the then developing eurobond market. The service was rebranded Euroclear (without hyphen) in 1990. In late 2000, the Euroclear System was transferred to a new entity, Euroclear Bank, a fully-owned subsidiary of the Euroclear Group that has remained one of the world's two leading international CSDs, the other being Clearstream Banking SA in nearby Luxembourg. Other entities of the Euroclear group include major national CSDs acquired by Euroclear in the 2000s in Belgium, Finland, France, the Netherlands, Sweden, and the UK. The name "Euroclear" is often misinterpreted as indicating a clearing activity of the Euroclear group, which is actually not the case. This confusion co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Finland
The Bank of Finland (, ) is the national central bank for Finland within the Eurosystem. It was the Finnish central bank from 1865 to 1998, issuing the markka. It views itself as the fourth oldest surviving central bank in the world, after Sweden's Riksbank, the Bank of England, and the Bank of France, having been originally created in 1811-1812 as the Office of Exchange, Lending, and Deposits of the Grand Duchy of Finland () before taking its current name in 1840. Unlike many other longstanding central banks, it has always been government-owned. History Russian Empire In 1809, the Russian Empire annexed Finland and made it a Grand Duchy with its own administrative structure. One aim of the new authorities was to sever Finland's previous economic integration with Sweden, including the use of the Swedish riksdaler as currency. To that effect, the Office of Exchange, Lending, and Deposits was chartered on and established on in Turku by Alexander I of Russia, partly model ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Helibor
Helibor (''Helsinki Interbank Offered Rate'') was a reference rate that was used in 1987–1998 on the Finnish interbank market. It was calculated each day as an average of the interest rates at which the banks offered to lend unsecured, Finnish markka nominated funds to each other. Helibor was quoted for 1, 2, 3, 6, 9 and 12 month maturities. It was widely used as a reference rate for company loansMika VaihekoskiThe Finnish Stock Market: Recent Trends and Important Events. Liiketaloudellinen Aikakauskirja — The Finnish Journal of Business Economics, 4/1997. and housing loans.G. Geoffrey Booth et alThe financing of residential real estate in Finland: an overview. Journal of Housing Research 5(2). 1994. Before deregulation and floating the currency, it was rather high compared to the rest of the Western world, meaning that for instance mortgage interest rates were regularly ca. 15%. This so-called ''Suomi-lisä'' was removed by deregulation. The Bank of Finland began publishing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Helsinki Stock Exchange
Nasdaq Helsinki, formerly known as the Helsinki Stock Exchange (, ), is a stock exchange located in Helsinki, Finland. Since 3 September 2003, it has been part of Nasdaq Nordic (previously called ''OMX''). After the OMX merger, it was referred to as ''OMX Helsinki'' (OMXH), then after NASDAQ's acquisition of OMX in February 2008, ''NASDAQ OMX Helsinki'', and currently Nasdaq Helsinki. History The Helsinki Stock Exchange saw its first transaction on October 7, 1912. From then it remained a "free form" financial association until in 1984 it was converted into a cooperative owned mostly by banks, traders, other companies and associations. On April 1, 1990, trading was moved to a new digital system: HETI (Helsinki Stock Exchange Automated Trading and Information System, and in Finnish a rough backronym for "immediately"), which replaced the electro-mechanical trading system originally introduced back in 1935. HETI enabled remote traders to conduct transactions on equal terms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Värdepapperscentralen
Euroclear Sweden is the main central securities depository (CSD) in Sweden, headquartered in Stockholm. It is a fully-owned subsidiary of the Euroclear Group. Overview Värdepapperscentralen AB (VPC) was established in 1971 as the sole CSD for Sweden. It was owned jointly by Sweden's main banks: as of 2003, 98.6 percent of its capital was held by SEB, Handelsbanken, Nordea, and FöreningsSparbanken, with the residual 1.4 percent held by minor banks and investment firms. On , VPC announced its merger with its Finnish peer Arvopaperikeskus (APK) to form the Nordic Central Securities Depository (NCSD). As a consequence of the transaction, OM HEX AB, the owner of both the Finnish and Swedish stock exchanges, became owner of nearly 20 percent of NCSD, the rest remaining mainly owned by the four large Swedish banks. In subsequent years, the Swedish banks bought out the share of OM HEX, which had been renamed OMX in August 2004. On , Euroclear announced its acquisition of the NCSD, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Securities Depositories Association
European Central Securities Depositories Association (ECSDA) is the official trade association for the Central Securities Depository industry in Europe. The association provides a forum for Central Securities Depositories (CSDs) to exchange views and take forward projects of mutual interest. It aims to promote a constructive dialogue between the CSD community, European and Global public authorities and other stakeholders aiming at contributing to an efficient and risk-averse infrastructure for financial markets. It is one of five regional CSD associations oWorld Forum of CSDs History The history of the ECSDA dates back to the early 1990s, when CSD chief executives started to meet on a regular basis to exchange best practices and prepare for the adoption of the euro. The idea of formalising these contacts in an association emerged in 1995 at a meeting taking place at the European Monetary Institute in Frankfurt. The association was established in November 1997 with the signature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
