Central Security Depository
For both cash products (equities and bonds) and environmental products (e.g. carbon), a complete CSD solution is available. It can also be configured to act as a registry (for certificated holdings) – either as a standalone registry or as part of a combined registry/CSD offering.
AvenirCSD is a fully featured CSD system. It carries out custody and electronic settlement, with trades validated and settlement positions created and updated in real time for the system operator and settlement participants.
A real time graphical indication of settlement risk is available to the operator, and comprehensive settlement reports are available before and after the event.
The system seamlessly interfaces with the Avenir or other trading platform using FIX, and with brokers, settlement banks and custodians using SWIFT ISO15022/20022. Alternatively, connectivity using existing APIs can also be built.
For customers where registry functionality (certificated holdings) is required, the system can provide all the necessary legal ownership features. This includes more modern touches such as QR codes on certificates that can be used to validate them in real time using a smartphone.
The system supports range of account types such as individual accounts, broker proprietary and omnibus accounts and Custodian segregated and omnibus accounts.
Most standard corporate actions are provided as standard (e.g. dividend and interest payments, bonus and consolidations, meetings and proxy voting. Others can be easily added.
Trades are received from an exchange or OTC market via the industry standard FIX interface, or via the native API of the trading platform. Trades can even be manually entered. They are validated and enriched before creating settlement positions.
The system supports BIS Model I, II and III settlement. Settlement positions are created from trades in real time and settlement participants can see their securities and cash obligations building up in real time. Before settlement the system highlights where problems might arise due to to non-placement of cash or securities. Settlement processing has several tools to free up settlement roadblocks. It also has several features for better fails handling.
AvenirCSD powers the Astana International Exchange in Kazakhstan and the Central Asian Stock Exchange in Tajikistan. It also powers Avenir Registrars in London, a CREST eligible registrar (avenir-registrars.co.uk).