LuxCSD handled high-volume dematerialisation of equities


LuxCSD successfully dematerialised the share capital of B&M European Value Retail S.A., the fastest-growing general merchandise value retailer in the UK with a store network in the UK and France.

The Luxembourg-based company has a market capitalisation of GBP 4.69 bn (as per 7 December 2020) and is listed on the London Stock Exchange in the FTSE 100 index.The LuxCSD Principal Agent (LPA) was Banque Internationale à Luxembourg (BIL) ensuring the timely and accurate processing of the securities.

Issuance of dematerialised securities

LuxCSD fully supports the issuance of dematerialised securities as these significantly increase efficiency and reduce risks and costs for the industry. Dematerialised issuance is widely recognised as the most efficient and secure form of issuance.

In 2013, Luxembourg adopted the law governing the dematerialisation of physical securities as well as the issuance of dematerialised securities, permitting electronic records to replace the currently predominant global certificate.

Benefits for issuers

Issuers benefit from the ability to receive information on the holders of their issued securities and from more favourable treatment of electronic securities under foreign laws, for example for tax purposes