Market Practices

DACSI develops, supports and publishes market practices and recommendations relevant in the post-trade space.

- Non-issuer DRIPs (Dividend Reinvestment Programmes)

The Market Practice for dividend reinvestment programmes and other propositions offered by another than the Issuer (applied since 2018) is no longer in place. Euroclear NL will make an announcement shortly.

Accepted practices initiated by DACSI:

- Matched settlement instructions for NL ISINs

Admitted institutions to / participants in Euroclear NL have agreed on a market practice and strongly recommend involved parties to comply with this practice: instructions for the delivery of securities without payment (f.o.p.) should always be matched. This applies to all ISINs issued in Euroclear NL as CSD.

We refer to the text of the Market Practice and the separate matching details.

- Buyer Protection

For OTC transactions, we refer to the Market Practice Buyer Protection (in English),
BP Instruction form (xls) and BP Instruction form (pdf)

For centrally cleared (exchange traded) transactions, we refer to the CCPs procedure (LCH SA).

- Free-of-payment deliveries

Taking into account the new situation created for free-of-payment deliveries by the migration to T2S, a new market practice has been developed and tested. DACSI approved this market practice for implementation together with the migration to T2S. Below you can download:
- the approved market practice;
- the most recent accompanying list with contact details.

The market practice will be evaluated after the T2S migration, the contact details list will be updated regularly.

- Squeeze-out procedures and the consequences for corporate action processing

You can download the Marktpraktijk uitkoopprocedure (in Dutch) and
Market practice squeeze-out and CA structuring
(in English)

- Shareholder identification - request for disclosure of shareholders up to 60 days before GM

You can download the Procedure and format for requests and reporting under article 49b of the Securities Giro Act (Wge) (in English, 8 Dec 2014)

- Securities portfolio transfer service

Eight banks in The Netherlands jointly offer the Securities Portfolio Transfer Service (Overboekservice Effecten); see the Overboekservice page (in Dutch) or the Securities Portfolio Transfer Service page (in English).

Recommendations made by DACSI:

- Facilitation of electronic voting in General Shareholders’ Meetings

You can download the Recommendation e-voting (11 Sep 2014)

DACSI fully supports the implementation of the Market Standards for Corporate Action Processing and the Market Standards for General Meetings. We refer to our web page dedicated to Market Standards.