A Nasdaq CSD Participant authorized as a Fund Administrator:

  • Is responsible for communication with Nasdaq CSD on behalf of the fund manager;
  • Has the right as a Nasdaq CSD Participant to give instructions on a dedicated issuance account to increase (issuance and subscription) or decrease (redemption) the quantity of fund units in circulation;
  • Must also play the role of Account Operator in order to communicate settlement instructions to Nasdaq CSD (subscription or/and redemption of open-ended fund units).