Our securities accounting department is responsible not only for reconciling custodian accounts, but also for Belgian and international settlement activities, the processing of securities operations and the payment of matured securities and the transfers of securities via account entries.
Each transaction executed generates a settlement-delivery operation, i.e. an exchange of securities against cash, either directly vis-à-vis the market counterparty, or via the market clearing house. With the internationalisation of stock market operations, our firm has introduced modern and efficient settlement systems in order to settle all transactions rapidly. Leleux Associated Brokers is a member of the various major European clearing houses (LCH.Clearnet).
All securities deposited by our clients are re-deposited with high-quality approved custodian banks. Our Securities Accounting Department is responsible for controlling securities deposited physically by our clients and for their transmission to the issuer for dematerialisation. At the same time, the department processes requests for the transfer of dematerialised securities via account entries and controls movements of dematerialised securities into and out of our securities accounts with our custodians. It is therefore important to reconcile these accounts carefully in order to control the position of our clients in comparison to those of our custodian banks.
All securities deposited are closely monitored so that all relevant securities operations can be rapidly implemented as and when necessary (takeovers, optional dividends, regularisation operations, share splits, etc.).Alongside these complex operations, another equally important function involves following the payment of dividends and interest on financial instruments, as well as the repayment of the capital of matured bonds. All these tasks are carried out by our Securities Accounting Department.
Finally, the Securities Accounting Department is responsible for creating and keeping up-to-date our securities information sheets which cover 800,000 securities. Other than securities data automatically created and supplied to us by Euronext, Euronext Derivatives, the Luxembourg Stock Exchange, CBOE Europe and Xetra, numerous other products are created every day in order to provide clients with as complete a product range as possible.