Depositary for Investment Funds
In most continental European countries investment funds must deposit their assets with a custodian bank. In the interest of the investors of the fund, the depositary is also tasked with supervising the activity of the fund and its fund managers. We serve as a depositary for investment funds both under the Liechtenstein Law on Investment Undertakings (IUA) and under the EU/EEA-harmonised fund classes UCITS and AIF.
Paying Agent for Bonds and Equities
BENDURA BANK AG has many years of experience as a paying agent for bonds and equities, and in this context it is one of the few niche offerors for small and mid-sized enterprises and issuers. Our customers are supported in the technical implementation, dematerialisation and processing of their bond and equity issuances. For bonds the paying agent also carries out the technical processing of interest payments, repayments, conversions of loans or other capital measures. The bonds are deposited with the central securities depository (CSD) as uncertificated securities or in the form of global certificates, whereby they are converted to intermediated securities (“book entries”). Dematerialisation is the conversion of bonds into electronic securities. These dematerialised financial instruments can be transferred to other banks via securities settlement systems (SIX SIS, Clearstream, Euroclear etc.). Dematerialisation is a precondition for electronically executable OTC trades with these financial instruments, as well as for a stock exchange listing. For equities, dematerialisation is the conversion of the equities into electronic securities. Thus the shares become electronically tradeable and transferable. This procedure is also available for existing stock corporations that have thus far used physical share certificates.
As the paying agent for equities, BENDURA BANK AG carries out the technical implementation (distribution of the shares to shareholders through the clearing systems) of the shares as well as further capital measures (dividend payments, reports to the shareholders etc.). The services of the paying agent can be used by opening an account and executing a paying agent contract. BENDURA BANK AG also offers its services as a domestic paying agent in Liechtenstein for foreign investment funds.
Listing Agent Services
Independent of the paying agent role for bonds, we can offer listing agent services for bonds. Thanks to our excellent collaboration with the listing team of the Vienna Stock Exchange (Wiener Börse AG), our customers enjoy complication-free and rapid access to the Vienna MTF at an attractive fixed price.
The Vienna MTF is an exchange-regulated market. It is operated by the Vienna Stock Exchange as a multilateral trading facility (MTF). Securities which are not certified for official trade are placed through the Vienna MTF. The Vienna MTF is an outstanding listing for issuers of securities that do not need to be traded in a regulated market, but that nevertheless would like to be listed with a highly respected stock exchange.