Consultation Paper High level description, Nordic CSD Corporate ...

In addition to the Issuer agreement entered into force with the CSD, the
Issuer may appoint one or several Issuing Agents to handle e.g. the necessary
information (terms) delivery to the CSD system on behalf of the Issuer. The
Issuer could also take on these responsibilities itself if it is able to handle all
necessary responsibilities itself. Information on all Issuing Agents used by the
Issuer should be disclosed to the CSD.
Proposal [CA 6]
An Issuer shall apply for an Issuer licence for each CSD within NCSD
where it plans to issue securities.
When Issuers have received the licence, it is important for the market to have
one centralised CSD system to which participants would be granted a secure
and easy access for processing Corporate Actions. With this centralised
system market participants and Issuers would be able to reduce costs. For the
market as a whole this would increase efficiency and reduce complexity.
Proposal [CA 7]
Issuers should have access to the CSD system through an interface and
provide the CSD with all the relevant Corporate Action information via this
interface.
Dependencies and implications
The CSD system should be built in the way that it would enable Issuers to
receive a secure and restricted access to the centralised system. This access
would be provided through an interface.
The access levels would differ and vary from a very limited access to a wider
access depending on the role of the participant and the Issuer. Issuers would
have access to the CSD system for entering and amending information and
instructions for an upcoming Corporate Action or for the purpose of issuing
instruments. The Issuers will also have an interface for owner information
related services.
page 28(62)