A Nasdaq CSD Participant authorized as an Account Operator is responsible for the following:
- Setting up and maintaining of securities accounts in the system of Nasdaq CSD;
- Maintaining relations with their clients and following know-your-client (KYC), Anti Money Laundering (AML) and other requirements;
- Intermediating settlement instructions (also CA instructions) to Nasdaq CSD, i.e. sending settlement instructions, amendments and cancellations to the system and receiving feedback on these settlement instructions from the system in the form of status updates and advice, allegements and confirmations;
- Fulfillment of settlement in the form of payment of cash or delivery of securities derived from settlement instructions sent to Nasdaq CSD. Cash settlement in Nasdaq CSD is guaranteed by an appointed Cash Agent
- Maintaining and monitoring cash and securities settlement obligations of their clients in Nasdaq CSD;
- Registration, modification and release of pledge;
- Verifying and ensuring the correctness of information communicated to Nasdaq CSD.
Account Operators’ users’ to Nasdaq CSD’s system can be controlled to ensure that each Account Operator’s own activities can be segregated, i.e. it is possible to restrict access to some type of data by assigning only relevant operations to user accounts.