Euroclear Finland is the

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 tra ...

(CSD) of

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, ...

, headquartered in

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 municipali ...

. It is a fully-owned subsidiary of the

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 ...

Overview

In June 1989, the

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 Swed ...

, the Finnish government and the

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 m ...

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 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 t ...

. 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 merge with its Swedish peer Värdepapperscentralen (VPC) to form the Nordic Central Securities Depository (NCSD). As a consequence of the transaction, OM HEX AB became owner of nearly 20 percent of NCSD, the rest being mainly owned by the four large Swedish banks that had controlled VPC. In subsequent years, the Swedish banks bought out the stake of OM HEX, which had been renamed OMX in August 2004. On , Euroclear announced its acquisition of the NCSD, after which the CSDs in Finland and Sweden were respectively renamed Euroclear Finland and Euroclear Sweden.

References

External links

Official website
Central securities depositories of Europe {{finance-stub

Overview

See also

References

External links