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List of eligible links
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Liste over belånbare omsættelige aktiver"></a><ul><li class="clearfix"><a href="/mopo/coll/assets/guide/html/index.da.html">Brugervejledning</a></li></ul></li><li class="has-subpages -section"><a href="/mopo/coll/coll/html/index.da.html">Mobilisering af sikkerhedsstillelse</a><a href="#" class="subpages" title="toggle subpages for Mobilisering af sikkerhedsstillelse"></a><ul><li class="clearfix"><a href="/mopo/coll/coll/ccbm/html/index.da.html">CCBM</a></li><li class="clearfix"><a href="/mopo/coll/coll/eligiblesss/html/index.da.html">Godkendte værdipapirafviklingssystemer</a></li><li class="clearfix -current"><a href="/mopo/coll/coll/ssslinks/html/index.da.html">Godkendte link</a></li><li class="clearfix"><a href="/mopo/coll/coll/triparty/html/index.da.html">Godkendte trepartsagenter</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/risk/html/index.da.html">Risikoreduktion</a><a href="#" class="subpages" title="toggle subpages for Risikoreduktion"></a><ul><li class="clearfix"><a href="/mopo/coll/risk/ecaf/html/index.da.html">Eksterne kreditvurderingsbureauer</a></li><li class="clearfix"><a href="/mopo/coll/risk/riskcontrol/html/index.da.html">Risikokontrol</a></li><li class="clearfix"><a href="/mopo/coll/risk/liquidity/html/index.da.html">Haircutkategorier</a></li><li class="clearfix"><a href="/mopo/coll/risk/valuation/html/index.da.html">Værdiansættelse</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/loanlevel/html/index.da.html">Initivativet på enkeltlånsniveau</a><a href="#" class="subpages" title="toggle subpages for Initivativet på enkeltlånsniveau"></a><ul><li class="clearfix"><a href="/mopo/coll/loanlevel/transmission/html/index.da.html">Dataskabeloner</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/implementation/html/index.da.html">Godkendelseskrav</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/faq/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li><li class="clearfix"><a href="/mopo/coll/contacts/html/index.da.html">Kontaktpersoner</a></li></ul></li><li class="has-subpages"><a href="/mopo/eaec/html/index.da.html">Nuværende økonomiske forhold</a><a href="#" class="subpages" title="toggle subpages for Nuværende økonomiske forhold"></a><ul><li class="clearfix"><a href="/mopo/eaec/ecopolicy/html/index.da.html">Økonomisk politik</a></li><li class="clearfix"><a href="/mopo/eaec/fiscal/html/index.da.html">Finanspolitik</a></li><li class="clearfix"><a href="/mopo/eaec/trade/html/index.da.html">Udenrigshandel</a></li><li class="clearfix"><a href="/mopo/eaec/eer/html/index.da.html">Effektive valutakurser</a></li><li class="clearfix"><a href="/mopo/eaec/structure/html/index.da.html">Finansiel struktur</a></li><li class="clearfix"><a href="/mopo/eaec/markets/html/index.da.html">Finansielle markeder</a></li><li class="clearfix"><a href="/mopo/eaec/intermediaries/html/index.da.html">Finansielle formidlere</a></li><li class="clearfix"><a href="/mopo/eaec/diversity/html/index.da.html">Økonomisk diversitet</a></li><li class="clearfix"><a href="/mopo/eaec/labour/html/index.da.html">Arbejdsmarkedet</a></li></ul></li><li class="has-subpages"><a href="/mopo/market-contact-groups/html/index.da.html">Markedskontaktgrupper</a><a href="#" class="subpages" title="toggle subpages for Markedskontaktgrupper"></a><ul><li class="clearfix"><a href="/mopo/market-contact-groups/bmcg/html/index.da.html">Bond Market (BMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/mmcg/html/index.da.html">Money Market (MMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/dimcg/html/index.da.html">Debt Issuance Market Contact Group (DIMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/omg/html/index.da.html">ECB Operations Managers Group (ECB OMG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/fxcg/html/index.da.html">Foreign Exchange (FXCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/iid/html/index.da.html">Institutional Investor Dialogue (IID)</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/paym/html/index.da.html">Betalinger & finansiel stabilitet</a><a href="#" class="subpages" title="toggle subpages for Betalinger & finansiel stabilitet"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Betalinger og finansiel stabilitet</div> <p>Nærmere om, hvordan vi arbejder med finansiel stabilitet og betalingsinfrastruktur</p><a href="/paym/html/index.en.html">Overblik over betalinger og finansiel stabilitet</a><hr> <div class="nav-title">Kviklink</div> <ul> <li><a href="/euro/digital_euro/html/index.en.html">En digital euro</a></li> <li><a href="/press/intro/html/index.en.html">Betalingsnyheder</a></li> <li><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">Target – dokumenter og link for fagfolk</a></li> </ul> </div><a href="/pub/financial-stability/fsr/html/index.en.html" class="item image"> <img src="/paym/financial-stability/html/index/fsr_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Seneste Financial Stability Review</div> <div class="image-date">16. maj 2024</div></a></div></div><ul><li class="clearfix"><span>Betalinger</span></li><li class="has-subpages"><a href="/paym/target/html/index.da.html">Target Services</a><a href="#" class="subpages" title="toggle subpages for Target Services"></a><ul><li class="clearfix"><a href="/paym/target/coco/html/index.da.html">Fælles funktioner</a></li><li class="has-subpages"><a href="/paym/target/t2/html/index.da.html">T2</a><a href="#" class="subpages" title="toggle subpages for T2"></a><ul><li class="clearfix"><a href="/paym/target/t2/facts/html/index.da.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2/governance/html/index.da.html">Governance</a></li></ul></li><li class="has-subpages"><a href="/paym/target/t2s/html/index.da.html">T2S</a><a href="#" class="subpages" title="toggle subpages for T2S"></a><ul><li class="clearfix"><a href="/paym/target/t2s/governance/html/index.da.html">Governance</a></li><li class="clearfix"><a href="/paym/target/t2s/facts/html/index.da.html">Fakta og tal</a></li><li class="clearfix"><a href="/paym/target/t2s/pricing/html/index.da.html">Prisfastsættelse</a></li></ul></li><li class="has-subpages"><a href="/paym/target/tips/html/index.da.html">TIPS</a><a href="#" class="subpages" title="toggle subpages for TIPS"></a><ul><li class="clearfix"><a href="/paym/target/tips/governance/html/index.da.html">Governance</a></li><li class="clearfix"><a href="/paym/target/tips/facts/html/index.da.html">Fakta og tal</a></li><li class="clearfix"><a href="/paym/target/tips/onboarding/html/index.da.html">Tilslutning</a></li></ul></li><li class="clearfix"><a href="/paym/target/ecms/html/index.da.html">ECMS</a></li><li class="has-subpages"><a href="/paym/target/target-professional-use-documents-links/html/index.da.html">Target-dokumenter & -link til fagfolk</a><a href="#" class="subpages" title="toggle subpages for Target-dokumenter & -link til fagfolk"></a><ul><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/coco/html/index.da.html">Til professionel brug</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2/html/index.da.html">T2-dokumenter & -link</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2s/html/index.da.html">Beregnet for fagfolk</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/tips/html/index.da.html">Beregnet for fagfolk</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/ecms/html/index.da.html">Beregnet for fagfolk</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/integration/html/index.da.html">Integration og innovation</a><a href="#" class="subpages" title="toggle subpages for Integration og innovation"></a><ul><li class="has-subpages"><a href="/paym/integration/distributed/html/index.da.html">Distributed ledger-teknologier</a><a href="#" class="subpages" title="toggle subpages for Distributed ledger-teknologier"></a><ul><li class="clearfix"><a href="/paym/integration/distributed/exploratory/html/index.da.html">Forskningsarbejde</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/retail/html/index.da.html">Detailbetalinger</a><a href="#" class="subpages" title="toggle subpages for Detailbetalinger"></a><ul><li class="clearfix"><a href="/paym/integration/retail/retail_payments_strategy/html/index.da.html">Strategi for detailbetalinger</a></li><li class="clearfix"><a href="/paym/integration/retail/ecb/html/index.da.html">ECB som katalysator</a></li><li class="clearfix"><a href="/paym/integration/retail/sepa/html/index.da.html">SEPA</a></li><li class="clearfix"><a href="/paym/integration/retail/instant_payments/html/index.da.html">Straksbetalinger</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/collateral/html/index.da.html">Harmonisering af forvaltningen af sikkerhed</a><a href="#" class="subpages" title="toggle subpages for Harmonisering af forvaltningen af sikkerhed"></a><ul><li class="clearfix"><a href="/paym/integration/collateral/implementation/html/index.da.html">Gennemførelse</a></li><li class="clearfix"><a href="/paym/integration/collateral/faq/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/cyber-resilience/html/index.da.html">Cyberrobusthed</a><a href="#" class="subpages" title="toggle subpages for Cyberrobusthed"></a><ul><li class="clearfix"><a href="/paym/cyber-resilience/fmi/html/index.da.html">Finansielle markedsinfrastrukturer</a></li><li class="clearfix"><a href="/paym/cyber-resilience/tiber-eu/html/index.da.html">TIBER-EU</a></li></ul></li><li class="has-subpages"><a href="/paym/pol/html/index.da.html">Overvågning</a><a href="#" class="subpages" title="toggle subpages for Overvågning"></a><ul><li class="clearfix"><a href="/paym/pol/systems/html/index.da.html">Betalingssystemer</a></li><li class="clearfix"><a href="/paym/pol/target2-securities/html/index.da.html">Target2-Securities</a></li><li class="clearfix"><a href="/paym/pol/instr/html/index.da.html">Elektroniske betalinger</a></li><li class="clearfix"><a href="/paym/pol/clearing/html/index.da.html">Værdipapirafviklingssystemer og centrale modparter</a></li><li class="clearfix"><a href="/paym/pol/critical/html/index.da.html">Kritiske serviceleverandører</a></li><li class="clearfix"><a href="/paym/pol/correspondent-and-custodian-banks/html/index.da.html">Korrespondentbanker og depotbanker</a></li><li class="clearfix"><a href="/paym/pol/forum/html/index.da.html">Forummet SecuRe Pay</a></li></ul></li><li class="has-subpages"><a href="/paym/erms/html/index.da.html">Tjenesteydelser vedrørende forvaltning af valutareserver</a><a href="#" class="subpages" title="toggle subpages for Tjenesteydelser vedrørende forvaltning af valutareserver"></a><ul><li class="clearfix"><a href="/paym/erms/aspects/html/index.da.html">Vigtige aspekter</a></li><li class="clearfix"><a href="/paym/erms/service/html/index.da.html">Udbud af tjenester</a></li></ul></li><li class="has-subpages"><a href="/paym/cashprof/html/index.da.html">Kontanthåndterere</a><a href="#" class="subpages" title="toggle subpages for Kontanthåndterere"></a><ul><li class="has-subpages"><a href="/paym/cashprof/cashhand/html/index.da.html">Kontanthåndtering</a><a href="#" class="subpages" title="toggle subpages for Kontanthåndtering"></a><ul><li class="clearfix"><a href="/paym/cashprof/cashhand/devices/html/index.da.html">Udstyr til ægthedskontrol af pengesedler</a></li><li class="clearfix"><a href="/paym/cashprof/cashhand/recycling/html/index.da.html">Recirkulering af pengesedler</a></li></ul></li><li class="clearfix"><a href="/paym/cashprof/cdispec/html/index.da.html">CDI-specifikationer</a></li><li class="clearfix"><a href="/paym/cashprof/accreditation/html/index.da.html">Godkendelse af seddelproducenter</a></li></ul></li><li class="has-subpages"><a href="/paym/groups/html/index.da.html">Markedskontaktgrupper</a><a href="#" class="subpages" title="toggle subpages for Markedskontaktgrupper"></a><ul><li class="clearfix"><a href="/paym/groups/ami/html/index.da.html">Rådgivende grupper om markedsinfrastrukturer</a></li><li class="clearfix"><a href="/paym/groups/euro-cyber-board/html/index.da.html">Euro Cyber Resilience Board</a></li><li class="clearfix"><a href="/paym/groups/erpb/html/index.da.html">Euro Retail Payments Board (ERPB)</a></li><li class="clearfix"><a href="/paym/groups/efip/html/index.da.html">European Forum for Innovation in Payments (EFIP)</a></li></ul></li><li class="clearfix"><span>Finansiel stabilitet</span></li><li class="clearfix"><a href="/paym/financial-stability/html/index.da.html">Finansiel stabilitet</a></li><li class="clearfix"><a href="/paym/macroprudential-measures/html/index.da.html">Makroprudentielle tiltag</a></li><li class="clearfix"><a href="/paym/financial_stability_contact_groups/html/index.da.html">Kontaktgrupper vedrørende finansiel stabilitet</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/stats/html/index.da.html">Statistik</a><a href="#" class="subpages" title="toggle subpages for Statistik"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Statistik</div> <p>Adgang til al ECB-statistik og baggrundsoplysninger</p><a href="/stats/html/index.en.html">Overblik over ECB's statistik</a><hr> <div class="nav-title">Kviklink</div> <ul> <li><a href="https://data.ecb.europa.eu/main-figures">Hovedtal</a></li> <li><a href="https://data.ecb.europa.eu/">ECB Data Portal</a></li> <li><a href="/stats/ecb_statistics/accessing-our-data/html/index.en.html">Alle datatjenester</a></li> </ul> </div><a href="/press/blog/date/2024/html/ecb.blog20240418~2240ea1850.en.html" class="item image"> <img src="/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">ECB'S BLOG - Forbedrede data: klimaændringernes effekt på bankerne</div> <div class="image-date">18. april 2024</div></a></div></div><ul><li class="clearfix"><span>Hyppigt besøgt</span></li><li class="clearfix"><a href="/stats/euro-exchange-rates/html/index.da.html">Euro valutakurser</a></li><li class="clearfix"><a href="/stats/key-ecb-interest-rates/html/index.da.html">ECB's officielle renter</a></li><li class="has-subpages"><a href="/stats/euro-short-term-rates/html/index.da.html">Den korte eurorente (€STR)</a><a href="#" class="subpages" title="toggle subpages for Den korte eurorente (€STR)"></a><ul><li class="has-subpages"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/html/index.da.html">Rentebenchmark</a><a href="#" class="subpages" title="toggle subpages for Rentebenchmark"></a><ul><li class="clearfix"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/WG_euro_risk-free_rates/html/index.da.html">Arbejdsgruppen om risikofrie eurorenter</a></li></ul></li></ul></li><li class="clearfix"><a href="/stats/inflation/html/index.da.html">Inflation</a></li><li class="clearfix"><a href="/stats/euro-area-yield-curves/html/index.da.html">Euroområdets rentekurver</a></li><li class="clearfix"><span>Al statistik og baggrund</span></li><li class="clearfix"><a href="/stats/all-key-statistics/html/index.da.html">Al den vigtigste statistik</a></li><li class="clearfix"><a href="/stats/accessing-our-data/html/index.da.html">Få adgang til vores data</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/html/index.da.html">Hovedtræk</a><a href="#" class="subpages" title="toggle subpages for Hovedtræk"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/governance_and_quality_framework/html/index.da.html">Governance og kvalitetsrammer</a></li><li class="clearfix"><a href="/stats/ecb_statistics/co-operation_and_standards/html/index.da.html">Samarbejde og standarder</a></li><li class="clearfix"><a href="/stats/ecb_statistics/reporting/html/index.da.html">Bankernes datarapportering</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/anacredit/html/index.da.html">AnaCredit</a><a href="#" class="subpages" title="toggle subpages for AnaCredit"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/anacredit/questions/html/index.da.html">AnaCredit Q&A</a></li></ul></li><li class="clearfix"><a href="/stats/ecb_statistics/consultations/html/index.da.html">Offentlige høringer</a></li><li class="clearfix"><a href="/stats/ecb_statistics/dialogue/html/index.da.html">Banking Industry Dialogue om ESCB-statistik og integreret rapportering</a></li><li class="clearfix"><a href="/stats/ecb_statistics/sdmx/html/index.da.html">SDMX - model til udveksling af statistiske data</a></li><li class="clearfix"><a href="/stats/ecb_statistics/inexda/html/index.da.html">INEXDA - granulært datanetværk</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/euro/html/index.da.html">Euroen</a><a href="#" class="subpages" title="toggle subpages for Euroen"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Euroen</div> <p>Alt, hvad du har brug for at vide om den fælles valuta</p><a href="/euro/html/index.en.html">Overblik over euroen</a><hr> <div class="nav-title">Kviklink</div> <ul> <li><a href="/paym/cashprof/html/index.en.html">Kontanthåndterere</a></li> <li><a href="/stats/policy_and_exchange_rates/banknotes+coins/html/index.en.html">Statistik over sedler og mønter</a></li> <li><a href="/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html">Eurokursen</a></li> </ul> </div><a href="/euro/banknotes/future_banknotes/html/index.en.html" class="item image"> <img src="/euro/banknotes/future_banknotes/html/index/TwoThemes_Announcement_BOX_1000x750.png" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">To mulige temaer udvalgt til nye eurosedler</div> <div class="image-date">29. november 2023</div></a></div></div><ul><li class="has-subpages"><a href="/euro/digital_euro/html/index.da.html">Digital euro</a><a href="#" class="subpages" title="toggle subpages for Digital euro"></a><ul><li class="has-subpages"><a href="/euro/digital_euro/features/html/index.da.html">Hvad er det?</a><a href="#" class="subpages" title="toggle subpages for Hvad er det?"></a><ul><li class="clearfix"><a href="/euro/digital_euro/features/privacy/html/index.da.html">Den digitale euro og privatliv</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/how-it-works/html/index.da.html">Sådan virker den</a></li><li class="clearfix"><a href="/euro/digital_euro/why-we-need-it/html/index.da.html">Derfor har vi brug for den</a></li><li class="clearfix"><a href="/euro/digital_euro/progress/html/index.da.html">Tidslinje og status</a></li><li class="has-subpages"><a href="/euro/digital_euro/timeline/html/index.da.html">Detaljerede oplysninger</a><a href="#" class="subpages" title="toggle subpages for Detaljerede oplysninger"></a><ul><li class="clearfix"><a href="/euro/digital_euro/timeline/stakeholder/html/index.da.html">Ledelse og interessenter</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/profuse/html/index.da.html">Tekniske dokumenter og forskning</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/rulebook/html/index.da.html">Regelsæt for projektet</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/faqs/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li><li class="clearfix"><span>Kontanter</span></li><li class="has-subpages"><a href="/euro/cash_strategy/html/index.da.html">Eurosystemets kontantstrategi</a><a href="#" class="subpages" title="toggle subpages for Eurosystemets kontantstrategi"></a><ul><li class="clearfix"><a href="/euro/cash_strategy/cash_role/html/index.da.html">Kontanters rolle</a></li><li class="clearfix"><a href="/euro/cash_strategy/issuance/html/index.da.html">Udstedelse og cirkulation</a></li><li class="clearfix"><a href="/euro/cash_strategy/acceptance-cash/html/index.da.html">Adgang til at hæve og betale med kontanter</a></li><li class="clearfix"><a href="/euro/cash_strategy/faqs/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li><li class="has-subpages"><a 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href="/euro/coins/common/html/index.da.html">Fælles side</a></li><li class="clearfix"><a href="/euro/coins/comm/html/index.da.html">2-euro-erindringsmønter</a></li><li class="clearfix"><a href="/euro/coins/security/html/index.da.html">Sikkerhedselementer</a></li><li class="clearfix"><a href="/euro/coins/collect/html/index.da.html">Samlermønter</a></li></ul></li><li class="has-subpages"><a href="/euro/changeover/html/index.da.html">Overgang til eurosedler og -mønter</a><a href="#" class="subpages" title="toggle subpages for Overgang til eurosedler og -mønter"></a><ul><li class="clearfix"><a href="/euro/changeover/croatia/html/index.da.html">Kroatien (2023)</a></li><li class="clearfix"><a href="/euro/changeover/lithuania/html/index.da.html">Litauen (2015)</a></li><li class="clearfix"><a href="/euro/changeover/latvia/html/index.da.html">Letland (2014)</a></li><li class="clearfix"><a href="/euro/changeover/estonia/html/index.da.html">Estland (2011)</a></li><li class="clearfix"><a 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på dansk</div><!-- block-conversion --> <div class="title"> <h1>List of eligible links</h1> </div> <div class="section"> <p> Direct and relayed links are eligible for use in Eurosystem credit operations if they comply with the <a href="../../html/SSS_links_eligibility.en.html" data-label="engelsk">eligibility criteria</a>. </p> <h2>What are direct and relayed links?</h2> <h3>Direct links (unilateral, bilateral)</h3> <div class="figure"> <figure> <img src="index/direct_links.jpg" alt=""> </figure> </div> <p class="ecb-imgDesc">Use of eligible assets via direct links</p> <p> A direct link is an account opened by an (I)CSD, referred to as the “investor SSS”, in the books of another (I)CSD, referred to as the “issuer SSS”, in order to facilitate the transfer of securities from participants in the issuer SSS to participants in the investor SSS. </p> <p> The link between two SSSs is unilateral when it is used only for the transfer of securities registered in one system to another and not vice versa. A bilateral link between two SSSs means that a single agreement regulates the transfers of securities from any of the systems. </p> <p> A direct link implies that no intermediary exists between the two SSSs, and the operation of the omnibus account opened by the investor SSS is managed either by the investor SSS or the issuer SSS. In some cases, a direct link is “operated”, which means that a third party, typically a custodian bank, operates the account in the issuer SSS on behalf of the (I)CSD of the investor SSS. </p> <h3>Relayed links</h3> <div class="figure"> <figure> <img src="index/relayed_links.jpg" alt=""> </figure> </div> <p class="ecb-imgDesc">Use of eligible assets via relayed links</p> <p>Relayed links are contractual and technical arrangements for the transfer of securities involving at least three SSSs: the “investor” SSS, the “issuer” SSS and the “intermediary” SSS. In order to be eligible for assessment, a relayed link must be composed of SSSs and direct links that have already been positively assessed under the User Assessment Framework. A relayed link may be composed of up to two SSSs outside T2S and up to seven SSSs participating in T2S.</p> <p>Last updated: 25 November 2024<br><em>Links from Investor SSS (via Intermediary SSSs) to Issuer SSS</em></p> <h2>Belgium - Euroclear Bank</h2> <ul> <li>Euroclear Bank to NBB-SSS (Belgium)</li> <li>Euroclear Bank to Euronext Securities Copenhagen (Denmark)</li> <li>Euroclear Bank to CBF-CASCADE (Germany)</li> <li>Euroclear Bank to BOGS (Greece), operated by Citibank International, Athens</li> <li>Euroclear Bank to Euroclear France (France)</li> <li>Euroclear Bank to Euronext Securities Milan (Italy), operated by Société Générale Securities Services (SGSS) S.p.A., Milan </li> <li>Euroclear Bank to CBL (Luxembourg)</li> <li>Euroclear Bank to LuxCSD (Luxembourg)</li> <li>Euroclear Bank to Euroclear Nederland (the Netherlands)</li> <li>Euroclear Bank to OeKB CSD GmbH (Austria)</li> <li>Euroclear Bank to CDCP (Slovakia), operated by Citibank Europe plc, pobočka zahraničnej banky, Bratislava</li> <li>Euroclear Bank to KDD (Slovenia), operated by UniCredit Banka Slovenja d.d.</li> <li>Euroclear Bank to Euroclear Finland (Finland)</li> <li>Euroclear Bank to CSD Prague (Czech Republic)</li> </ul> <h2>Germany - Clearstream Banking AG (CBF): CBF-CREATION, CBF-CASCADE</h2> <ul> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to NBB-SSS (Belgium)</li> <li>CBF-CREATION via CBL (Luxembourg) to CBF-CASCADE (Germany)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to Euronext Securities Copenhagen (Denmark)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to Iberclear-ARCO (Spain)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to BOGS (Greece)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to Euroclear France (France)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to Euronext Securities Milan (Italy)</li><li><p>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to NASDAQ CSD SE Estonian Securities Settlement System</p></li><li><p>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to NASDAQ CSD SE Latvian Securities Settlement System<br></p></li><li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to NASDAQ CSD SE Lithuanian Securities Settlement System</li> <li>CBF-CREATION to CBL (Luxembourg)</li> <li>CBF-CREATION via CBL (Luxembourg) to LuxCSD (Luxembourg)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to Euroclear Nederland (the Netherlands)</li> <li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to OeKB CSD GmbH (Austria)</li><li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to CDCP (Slovakia)</li> <li>CBF-CREATION via CBL (Luxembourg) to Euroclear Finland (Finland)</li><li>CBF-CREATION via CBL (Luxembourg) via CBF-CASCADE (Germany) to KDD (Slovenia)</li> <li>CBF-CASCADE to NBB-SSS (Belgium)</li> <li>CBF-CASCADE to Euronext Securities Copenhagen (Denmark)</li> <li>CBF-CASCADE to Iberclear-ARCO (Spain)</li> <li>CBF-CASCADE to Euroclear France (France)</li> <li>CBF-CASCADE to BOGS (Greece)</li> <li>CBF-CASCADE to Euronext Securities Milan (Italy)</li> <li>CBF-CASCADE to CBL (Luxembourg)</li><li>CBF-CASCADE to CDCP (Slovakia)<br></li> <li>CBF-CASCADE to LuxCSD (Luxembourg)</li> <li>CBF-CASCADE to MaltaClear (Malta)</li> <li>CBF-CASCADE to Euroclear Nederland (the Netherlands)</li> <li>CBF-CASCADE to OeKB CSD GmbH (Austria)</li> <li>CBF-CASCADE to Euronext Securities Porto (Portugal)</li> <li>CBF-CASCADE via CBL (Luxembourg) to Euroclear Finland (Finland)</li><li>CBF-CASCADE to NASDAQ CSD SE Estonian Securities Settlement System<br></li><li>CBF-CASCADE to NASDAQ CSD SE Latvian Securities Settlement System</li><li>CBF-CASCADE to NASDAQ CSD SE Lithuanian Securities Settlement System</li><li><p>CBF-CASCADE to KDD (Slovenia)</p></li><li><p>CBF-CASCADE via CBL (Luxembourg) to SKDD (Croatia)</p></li><li><p>CBF-CASCADE via CBL (Luxembourg) to Euroclear Bank (Belgium)</p></li></ul><ul> </ul> <h2> Greece - BOGS</h2> <ul> <li>BOGS to CBF-CASCADE (Germany)</li> </ul> <h2>Spain - Iberclear-ARCO</h2> <ul> <li>Iberclear-ARCO to NBB-SSS (Belgium)<br></li><li>Iberclear-ARCO to CBF-CASCADE (Germany)</li> <li>Iberclear-ARCO to Euroclear France (France)</li> <li>Iberclear-ARCO to Euronext Securities Milan (Italy)</li> <li>Iberclear-ARCO to Euroclear Nederland (the Netherlands)</li> <li>Iberclear-ARCO to OeKB CSD GmbH (Austria)</li> <li>Iberclear-ARCO to Euronext Securities Porto (Portugal)</li> </ul> <h2>France - Euroclear France</h2> <ul> <li>Euroclear France to Euroclear Bank (Belgium)</li> <li>Euroclear France to NBB-SSS (Belgium)</li> <li>Euroclear France to CBF-CASCADE (Germany)</li> <li>Euroclear France to Iberclear-ARCO (Spain)</li> <li>Euroclear France to Euronext Securities Milan (Italy)</li> <li>Euroclear France via Euroclear Bank (Belgium) to OeKB CSD GmbH (Austria)</li> </ul> <h2>Italy - Euronext Securities Milan</h2> <ul> <li>Euronext Securities Milan to Euroclear Bank (Belgium)</li> <li>Euronext Securities Milan to NBB-SSS (Belgium)</li> <li>Euronext Securities Milan to CBF-CASCADE (Germany)</li> <li>Euronext Securities Milan to BOGS (Greece)</li> <li>Euronext Securities Milan to Iberclear-ARCO (Spain)</li> <li>Euronext Securities Milan to Euroclear France (France)</li> <li>Euronext Securities Milan to CBL (Luxembourg)</li> <li>Euronext Securities Milan to Euroclear Nederland (the Netherlands)</li> <li>Euronext Securities Milan to OeKB CSD GmbH (Austria)</li> </ul> <h2>Luxembourg - Clearstream Banking S.A (CBL), LuxCSD</h2> <ul> <li>CBL to Euroclear Bank (Belgium)</li> <li>CBL via CBF-CASCADE (Germany) to NBB-SSS (Belgium)</li> <li>CBL to CBF-CASCADE (Germany)</li> <li>CBL via CBF-CASCADE (Germany) to Euronext Securities Copenhagen (Denmark)</li> <li>CBL via CBF-CASCADE (Germany) to Iberclear-ARCO (Spain)</li> <li>CBL via CBF-CASCADE (Germany) to BOGS (Greece)</li> <li>CBL via CBF-CASCADE (Germany) to Euroclear France (France)</li> <li>CBL via CBF-CASCADE (Germany) to Euronext Securities Milan (Italy)</li> <li>CBL to LuxCSD (Luxembourg)</li> <li>CBL via CBF-CASCADE (Germany) to MaltaClear (Malta)</li> <li>CBL via CBF-CASCADE (Germany) to Euroclear Nederland (the Netherlands)</li> <li>CBL via CBF-CASCADE (Germany) to OeKB CSD GmbH (Austria)</li> <li>CBL via CBF-CASCADE (Germany) to Euronext Securities Porto (Portugal)</li><li>CBL via CBF-CASCADE (Germany) to CDCP (Slovakia)<br></li> <li>CBL to Euroclear Finland (Finland), operated by Nordea Bank Finland Plc.</li><li><p>CBL to SKDD (Croatia) </p></li><li><p>CBL via CBF-CASCADE (Germany) to KDD (Slovenia) </p></li><li><p>CBL via CBF-CASCADE (Germany) to NASDAQ CSD SE Estonian Securities Settlement System </p></li><li><p>CBL via CBF-CASCADE (Germany) to NASDAQ CSD SE Latvian Securities Settlement System </p></li><li><p>CBL via CBF-CASCADE (Germany) to NASDAQ CSD SE Lithuanian Securities Settlement System</p></li><li><p>LuxCSD via CBF-CASCADE (Germany) to NBB-SSS (Belgium)</p></li> <li>LuxCSD to CBF-CASCADE (Germany) </li> <li>LuxCSD via CBF-CASCADE (Germany) via CBL to Euroclear Bank (Belgium)</li> <li>LuxCSD via CBF-CASCADE (Germany) to Euronext Securities Copenhagen (Denmark)</li> <li>LuxCSD via CBF-CASCADE (Germany) to Iberclear-ARCO (Spain)</li> <li>LuxCSD via CBF-CASCADE (Germany) to Euroclear France (France) </li> <li>LuxCSD via CBF-CASCADE (Germany) to BOGS (Greece)</li> <li>LuxCSD via CBF-CASCADE (Germany) to MaltaClear (Malta)</li> <li>LuxCSD via CBF-CASCADE (Germany) to Euroclear Nederland (the Netherlands)</li> <li>LuxCSD via CBF-CASCADE (Germany) to Euronext Securities Milan (Italy)</li> <li>LuxCSD via CBF-CASCADE (Germany) to OeKB CSD GmbH (Austria)</li> <li>LuxCSD via CBF-CASCADE (Germany) to CBL (Luxembourg)</li><li>LuxCSD via CBF-CASCADE (Germany) to CDCP (Slovakia)<br></li> <li>LuxCSD via CBF-CASCADE (Germany) to Euronext Securities Porto (Portugal)</li><li><p>LuxCSD via CBF-CASCADE (Germany) to KDD (Slovenia) </p></li><li><p>LuxCSD via CBF-CASCADE (Germany) to NASDAQ CSD SE Estonian Securities Settlement System</p></li><li><p>LuxCSD via CBF-CASCADE (Germany) to NASDAQ CSD SE Latvian Securities Settlement System</p></li><li><p>LuxCSD via CBF-CASCADE (Germany) to NASDAQ CSD SE Lithuanian Securities Settlement System</p></li><li><p>LuxCSD via CBF-CASCADE (Germany) via CBL (Luxembourg) to Euroclear Finland (Finland)</p></li><li><p>LuxCSD via CBF-CASCADE (Germany) via CBL (Luxembourg) to SKDD (Croatia)</p></li> </ul> <h2> Malta - MaltaClear</h2> <ul> <li>MaltaClear to CBF-CASCADE (Germany)</li> </ul> <h2>Netherlands - Euroclear Nederland</h2> <ul> <li>Euroclear Nederland to Euroclear Bank (Belgium)</li> </ul> <h2>Austria - OeKB CSD GmBH</h2> <ul> <li>OeKB CSD GmBH to CBF-CASCADE (Germany)</li> <li>OeKB CSD GmBH to Euronext Securities Milan (Italy)</li> <li>OeKB CSD GmBH to Euroclear Nederland (the Netherlands)</li><li>OeKB CSD GmBH to NBB-SSS (Belgium)</li> </ul> <h2> Portugal - Euronext Securities Porto</h2> <ul> <li>Euronext Securities Porto to Euroclear France (France) </li> <li>Euronext Securities Porto to CBF-CASCADE (Germany)</li> <li>Euronext Securities Porto to Euroclear Nederland (the Netherlands) </li> <li>Euronext Securities Porto via Euroclear France to NBB-SSS (Belgium)</li> </ul> </div> <div class="in-this-section" id="pages-in-section-holder"> <h3>Alle sider i dette afsnit</h3> <div class="content-box"> </div> </div> </main> </div> <div id="feedback" class="hidden"> <div class="content-box"> <div class="initial"> <div class="title">Levede denne side op til dine forventninger?</div><a class="button -inverted-color" id="feedback-yes">Ja</a> <a class="button -inverted-color" id="feedback-no">Nej</a></div> <div class="second hidden"> <div class="title">Hvorfor ikke?</div><a class="button -inverted-color" id="feedback-broken">Siden fungerer ikke</a> <a class="button -inverted-color" 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