Becoming a LuxCSD customer
The following description does not apply to the LEI Services which are subject to separate terms and conditions).
For the definition of the requirements to become a participant in LuxCSD, reference is made to LuxCSD’s general terms and conditions (GTCs) applicable to the services that LuxCSD provides in its capacity as CSD.
The following categories of entities may only be eligible in LuxCSD as participant or “Customer” within the meaning of the article 1 of the GTCs:
- Banks and Credit Institutions;
- Non-Bank Financial Institutions;
- Sovereigns and Supranational Institutions;
- Trading venues and Central Counterparties;
- Legal Persons that are listed or subsidiaries of publicly listed companies;
- Alternative Investment Vehicles;
- Special Purpose Vehicles and Unincorporated Entities.
LuxCSD does not accept natural persons as customers and no account will be opened in the name of a natural person.
Note: LuxCSD’s admission policy is not applicable to issuers. Even though issuers are granted access to LuxCSD in accordance with Article 49 of the CSDR, they are not admitted as a participant/Customer within the meaning of the article 33 of the CSDR. The admission of the issuers is subject to a separate process. For an overview of the issuance procedures, please refer to the following link.
Requirements for admission
The admission and participation criteria are determined by the Customer and Access Acceptance Policy (attached below).
Decision on admission or refusal
LuxCSD will notify in writing whether the applicant has been accepted or refused.
Criteria that restrict access to the CSD are limited to those the objective of which is to justifiably control a specified risk for the CSD. In its reasonable discretion, where practicable, the CSD may consider as an alternative to a denial of access, restricting access to ancillary services, or products that are subject to additional risk assessments as set out below and other controls.
If LuxCSD refuses the access, LuxCSD shall inform the applicant of the decision taken and the reasons of such refusal and the procedure of appeal.