Alternative business opportunities - a case study from VPS Norwegian Central Securities Depository

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2. 2. VPS Norwegian Central Securities Depository. VPS was established in 1985 and is authorised by the Norwegian Financial Supervisory Authority to operate as a registry for financial instruments.The new Securities Register Act became effective on January 1, 2003 and VPS's exclusive right was repealed.The new act required that VPS were to be reorganized from a private self-owned institution to a public company.VPS is today a part of the Oslo B

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Alternative business opportunities - a case study from VPS Norwegian Central Securities Depository

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1. Alternative business opportunities - a case study from VPS Norwegian Central Securities Depository Sveinung Dyrdal, Head of Securities Services CSD10 in Budapest, 20th – 22nd May 2009 Short notice Not discussed with potensial partners, therefore we have chosen to present in our own format (the VPS-format). Later on we can used which ever format that is appropriate… But now, we are proud to present the Fundbridge concept to our Link Up friendsShort notice Not discussed with potensial partners, therefore we have chosen to present in our own format (the VPS-format). Later on we can used which ever format that is appropriate… But now, we are proud to present the Fundbridge concept to our Link Up friends

2. 2 VPS Norwegian Central Securities Depository VPS was established in 1985 and is authorised by the Norwegian Financial Supervisory Authority to operate as a registry for financial instruments. The new Securities Register Act became effective on January 1, 2003 and VPS’s exclusive right was repealed. The new act required that VPS were to be reorganized from a private self-owned institution to a public company. VPS is today a part of the Oslo Břrs VPS group that comprises of: Oslo Břrs (Stock Exchange) VPS (CSD) Oslo Clearing (CCP) Oslo Market Solutions (Solutions and Market Data)

3. 3 Some figures…

4. 4 VPS Business Areas

5. 5 The VPS’ Fund Services History VPS’ Fund Services are built on a CSD platform, with a legal registry of ownership on investor level, as a core service. VPS offers a Transfer Agency Service to fund managers as a supplement to the pure CSD business as one of the few CSDs in the world. VPS can offer standardized distribution solutions based on the financial network around the CSD. VPS started with Fund Services in 1991.

6. 6 Challenges – cross boarder is increasing Norwegian fund managers are becoming multinational, and are getting an increasing part of their clients outside Norway. The need for an easy connection to distributors in other countries are increasing. Distributors using VPS’ solutions are increasingly offering funds from non Norwegian fund managers. Distributors are becoming more independent of single fund managers, and are offering investment portfolios combining funds from different fund managers. International fund managers look to the Nordic countries for new distribution opportunities.

7. 7 VPS answer to this is

8. 8

9. 9 The Fundbrigde™ solution contains of three application, all web-bases and all hosted by VPS…

10. 10 VPS Investor Services

11. 11

12. 12 VPS Fund Services VPS Fund Services is flexible and user friendly. Client can choose between an English or a Norwegian version. The system includes an flexible report generator based Business Objects. Uses ISO 20022 for B2B communication or interface with internal systems.

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