Disclosures

Protection and segregation, disclosed.

Article 38 of Regulation EU 909/2014 (hereafter “CSDR”) outlines requirements for the protection of securities of participants and those of their clients.

“CSDs and their participants shall publicly disclose the levels of protection and the costs associated with the different levels of segregation that they provide and shall offer those services on reasonable commercial terms. Details of the different levels of segregation shall include a description of the main legal implications of the respective levels of segregation offered, including information on the insolvency law applicable in the relevant jurisdictions.”
Regulation (EU) 909/2014, Article 38(6)

This page contains the disclosures of those ECSDA members which comply with the CSDR or measures that are or expected to be recognised equivalent.

Member disclosures

Market	ECSDA member	Last updated
International	Euroclear Bank disclosure (opens in a new tab)	-
AT	OeKB CSD disclosure (opens in a new tab)	-
BE/FR/NL	ESES disclosure (opens in a new tab)	-
CH	SIX SIS disclosure (opens in a new tab)	-
DK	VP Securities disclosure (opens in a new tab)	-
FI	Euroclear Finland disclosure (opens in a new tab)	-
SK	CDCP SR disclosure (opens in a new tab)	21/10/2020
Baltics	Nasdaq CSD SE disclosure (opens in a new tab)	-
SE	Euroclear Sweden disclosure (opens in a new tab)	-
UK & IRL	Euroclear UK&I disclosure (opens in a new tab)	-

Disclaimer

Please note that these disclosures may be subject to change. The page will be updated as ECSDA members provide the most up-to-date information. ECSDA provides this information on a best-efforts basis and is not liable for any erroneous information on this page.

WFC Single Disclosure

In 2016, an initiative called the “WFC Single Disclosure” was launched, which combines the AGC and PFMI disclosures into one single disclosure report. For more information, please visit the website of the World Forum of CSDs (WFC).

World Forum of CSDs

Members' annual reports, disclosure reports and fees

Every ECSDA member's latest annual report, its disclosure reports and its fees, as published by the member.

Market	Member	Annual report	Disclosure reports	Fees
AT	OeKB CSD	2025 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (2022-2023) Upon request	Fees (opens in a new tab)
BA	Registry of Securities of the Federation of Bosnia and Herzegovina (RVP)	2024 Annual Report (opens in a new tab)	WFC Single Disclosure Report - AGC (opens in a new tab) (2025-2026)	Fees
BA	Central Registry of Securities a.d. Banja Luka (CR HoV RS)	2022 Annual report (opens in a new tab)	AGC (opens in a new tab) (2025-2026) PFMI (opens in a new tab) (2025)	Fees (opens in a new tab)
BE	Euroclear Bank	2024 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2021-2022) PFMI (opens in a new tab) (2024) Pillar III Disclosure (opens in a new tab) (2025)	Fees (opens in a new tab) (Access as a guest / public information)
BE	Euroclear Belgium	2024 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2025-2026) PFMI (opens in a new tab) (2023)	Fees (opens in a new tab) (Access as a guest / public information)
BG	Central Depository AD (CDAD)	2024 Annual Report (opens in a new tab)	AGC	Fees (opens in a new tab)
CH	SIS, SIX	2025 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2025-2026) PFMI (opens in a new tab) (2025)	Fees (opens in a new tab)
CY	Cyprus Stock Exchange (CSE)	-	AGC (opens in a new tab) (2025-2026)	Fees (opens in a new tab)
CZ	Central Securities Depository Prague (CDCP)	2025 Annual Report (opens in a new tab)	WFC Single Disclosure Report - AGC (upon request) PFMI 2017 (opens in a new tab)	Fees (opens in a new tab)
DE	Clearstream Europe AG	2025 Annual Report (opens in a new tab)	WFC Single Disclosure - AGC (opens in a new tab) (2025-2026) Pillar III Disclosure (opens in a new tab) (2025)	Fees (opens in a new tab)
DK	Euronext Securities Copenhagen	2025 Annual Report (opens in a new tab)	Disclosures (opens in a new tab) - upon request	Fees (opens in a new tab)
ES	Iberclear, BME, SIX	2025 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2025-2026) CPSS-IOSCO (opens in a new tab) (2024)	Fees (opens in a new tab)
FI	Euroclear Finland	2024 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2025-2026) PFMI (opens in a new tab) (2023)	Fees (opens in a new tab) (Access as a guest / public information)
FR	Euroclear France	2024 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2025-2026) PFMI (opens in a new tab) (2023)	Fees (opens in a new tab) (Access as a guest / public information)
GR	Euronext Securities Athens	-	WFC Single Disclosure report - AGC (opens in a new tab) (2025-2026) CPMI - IOSCO (opens in a new tab) (2023)	Fees (opens in a new tab)
HR	Central Depository & Clearing Company Inc. (SKDD)	2024 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2023-2024)	Fees (opens in a new tab)
HU	KELER Ltd	2024 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2025-206)	Fees (opens in a new tab)
IS	VBM	-	AGC (opens in a new tab) (2023-2024)	Fees (opens in a new tab)
IT	Euronext Securities Milan	2025 Annual Report (opens in a new tab)	Disclosures (opens in a new tab) - upon request	Fees (opens in a new tab)
KZ	AIX CSD	-	-	Fees (opens in a new tab)
KZ	KCSD	2023 Annual Report (opens in a new tab)	CPMI-IOSCO (opens in a new tab) (2022)	Fees (opens in a new tab)
LU	Clearstream Banking SA	2023 Annual Report (opens in a new tab)	WFC Single Disclosure - AGC (opens in a new tab) (2020-2021) CPMI (opens in a new tab) (2020) Pillar III disclosure (opens in a new tab) (2021)	Fees (opens in a new tab)
LU	LuxCSD	2023 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2020-2021) CPSS-IOSCO (opens in a new tab) (2021)	Fees (opens in a new tab)
LV	Nasdaq CSD SE	2023 Annual Report (opens in a new tab)	AGC	Fees (opens in a new tab)
MD	Depozitarul Central Unic	2023 Annual Report (opens in a new tab)	-	-
ME	Central securities depository and clearing company of Montenegro (CSD&CC - Montenegro)	2018 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC and PFMI (opens in a new tab) (2017-2018)	Fees (opens in a new tab)
MK	Central Securities Depository AD Skopje (CSD AD Skopje)	2023 Annual Report (opens in a new tab)	WFC Single Disclosure - AGC (opens in a new tab)(2019-2020)	Fees (opens in a new tab)
MT	Malta Stock Exchange (MSE)	2023 Annual Report (opens in a new tab)	AGC (2014-2015) (opens in a new tab) CPSS-IOSCO (2015) (opens in a new tab)	Fees (opens in a new tab)
NL	Euroclear Nederland	2023 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2020-2021) PFMI (opens in a new tab) (2021)	Fees (opens in a new tab) (Access as a guest / public information)
NO	Euronext Securities Oslo	2023 Annual Report (opens in a new tab)	WFC Single Disclosure - AGC (2019-2020) PFMI (opens in a new tab) (2014)	Fees (opens in a new tab)
PL	The Central Securities Depository of Poland (KDPW)	2023 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2023-2024)	Fees (opens in a new tab)
PT	Euronext Securities Porto	2023 Annual Report (only available in Portuguese) (opens in a new tab)	WFC Single Disclosure report - AGC and PFMI (opens in a new tab) (2022-2023)	Fees (opens in a new tab)
RO	Depozitarul Central	2023 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC (opens in a new tab) (2019-2020)	Fees (opens in a new tab)
RS	Central Securities Depository and Clearing House (CR HoV)	2023 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2021-2022)	Fees (opens in a new tab)
SE	Euroclear Sweden	2023 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2021-2022) PFMI (opens in a new tab) (2021)	Fees (opens in a new tab) (Access as a guest / public information)
SI	Central Securities Clearing Corporation (KDD)	-	AGC (opens in a new tab) (2022-2023) PFMI (opens in a new tab) (2013)	Fees (opens in a new tab)
SK	Central Securities Depository of the Slovak Republic (CDCP SR)	2023 Annual Report (opens in a new tab)	WFC Single Disclosure report - AGC and PFMI (2021-2022) (opens in a new tab)	Fees (opens in a new tab)
TR	Central Securities Depository of Turkey (MKK)	2023 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2021-2022)	Fees (opens in a new tab)
UA	National Depository Ukraine (NDU)	2022 Annual Report (opens in a new tab)	WFC Single Disclosure Report - AGC and PFMI (opens in a new tab) (2021-2022)	Fees (opens in a new tab)
UK	Euroclear UK & International	2023 Annual Report (opens in a new tab)	AGC (opens in a new tab) (2015-2016) PFMI (opens in a new tab) (2016)	Fees (opens in a new tab) (Access as a guest / public information)
No member matches.