Depository and Custodian Services

Depository bank of collective investment schemes/ mutual funds

  • UBB executes a Depository bank’s functions, pursuant to the regulatory requirements of the Collective Investment Schemes and Other Undertakings for Collective Investments Act;
  • UBB provides safekeeping of funds and securities of collective investment schemes/ mutual funds;
  • UBB accepts and registrates clients’ orders for custodian deals and transfers on BSE-Sofia AD or on over-the-counter markets with dematerialized financial instruments;
  • UBB confirms the correct calculation of net asset values and redemption prices for mutual funds;
  • UBB executes control on the movement of clients' funds and financial instruments;
  • UBB provides in due time information to its clients on the entrusted assets and on the operations, performed with them.

Advantages:

  • UBB provides reliable safekeeping of the entrusted clients' assets;
  • UBB offers modern technologies for performing all types of activities, involved in the implementation of the depository bank agreement;
  • The depository services are centralized and ensure minimum risk upon their realization;
  • UBB seeks contact with clients in order to achieve high quality execution of the agreements.

Terms and conditions:

  • Clients willing to take advantage of our “Depository bank of collective investment schemes/mutual funds” services should be:
    • legal entities - professional investors;
    • holding a license by the Financial Supervision Commission for performing activities as a collective investment scheme/ mutual fund;
  • Clients have to sign an agreement for "Depository bank of collective investment schemes/ mutual funds" services.

Depository Bank of Real Estate Investment Trusts (REITs)

  • UBB executes a Depository Bank’s functions, pursuant to the regulatory requirements of the Special Purpose Investment Companies Act;
  • UBB is safekeeping funds and securities of special purpose investment companies;
  • UBB monitors and controls transactions with funds and financial instruments of real estate investment trusts (REIT);
  • UBB controls the parameters of agreements for loans, deposits and leases, concluded by REITs, as well as of the pledges, receivables and assignments made by them in accordance with the regulatory requirements.

Advantages:

  • UBB provides reliable safekeeping of the entrusted clients' assets;
  • UBB fulfills its functions and provides services competently, accurately and promptly;
  • UBB seeks contact with clients in order to achieve high quality execution of the agreements.

Terms and conditions:

  • Clients willing to take advantage of our "Depository Bank of REITs” services should be:
    • legal entities – holding a license by the Financial Supervision Commission for performing as Real Estate Investment Trusts;

  • Clients have to sign an agreement for "Depository Bank of REITs'" services.

Depository bank - register of foreign financial instruments in a foreign depository institution - Clearstream Banking SA - Luxembourg

  • UBB maintains registers with foreign depository institutions (Clearstream Banking SA - Luxembourg) for foreign financial instruments and Bulgarian financial instruments, registered on a foreign capital market;
  • UBB executes transactions with financial instruments and provides settlement services;
  • UBB allocates income from dividends and interest payments on financial instruments to clients accounts;
  • UBB provides information on the balances and movements for clients' accounts.

Advantages: 

  • UBB provides reliable safekeeping of the entrusted clients' assets;
  • UBB fulfills its functions and provides services competently, accurately and promptly;
  • UBB seeks contact with clients in order to achieve high quality execution of the agreements. 

Terms and conditions:

  • Clients willing to take advantage of our "Depository bank for keeping a register of foreign financial instruments" services have to hold a license, issued by the Financial Supervision Commission as:
    • professional investors;
    • insurance and health insurance companies;
    • investment intermediaries.
  • Clients have to sign an agreement for "Depository bank, keeping a register of foreign financial instruments" services.

Depository bank - register of Bulgarian government securities

  • UBB maintains and keeps registers of Bulgarian government securities, pursuant to BNB Ordinance No5;
  • UBB executes transactions with Bulgarian government securities;
  • UBB provides information on available Bulgarian government securities in the client’s account. 

Advantages:                                                       

  • UBB provides reliable safekeeping of the entrusted clients' assets;
  • UBB fulfills its functions and provides services competently, accurately and promptly;
  • UBB seeks contact with clients in order to achieve high quality execution of the agreements.      

Terms and conditions:                                                             

  • Clients willing to take advantage of our "Depository bank for keeping a register of government securities" services have to hold a license, issued by the Financial Supervision Commission as:
    • professional investors;
    • insurance and health insurance companies;
    • investment intermediaries.
  • Clients have to sign an agreement for "Depository bank for keeping a register of government securities" services.

Depository Bank for safekeeping of materialized securities and certification documents of professional investors

  • UBB accepts and provides safekeeping of materialized securities and clients' certification documents;
  • UBB ensures adequate conditions for safekeeping of the accepted materialized securities and certification documents.

Advantages:                                      

  • UBB provides security and confidentiality of the services rendered;
  • UBB seeks contact with clients in order to achieve high quality execution of the agreements.

Terms and conditions:

  • We provide our "Depository Bank for safekeeping of materialized securities" services to legal entities – professional investors;
  • Clients have to sign an agreement for safekeeping of materialized securities.

Payments of dividends on shares of joint-stock companies and liquidation stakes of companies undergoing liquidation

  • UBB coordinates the activities of paying dividends of joint-stock companies and liquidation stakes of joint-stock companies, undergoing liquidation;
  • UBB periodically provides clients with information on dividends paid, respectively liquidation stakes.

Advantages:                                                           

  • UBB pays dividends on shares and liquidation stakes of joint-stock companies at any branch of the bank;
  • UBB ensures security and confidentiality of the shareholders' data;
  • UBB seeks contact with the joint-stock companies in order to achieve high quality execution of the agreements.

Terms and conditions:                                                                            

  • Clients willing to pay out dividends or liquidation stakes to their shareholders through UBB should be:
    • legal entities - joint stock companies,
    • respectively joint- stock companies undergoing liquidation;
  • Clients have to sign an agreement for the payment of dividends on shares of joint-stock companies or for the payment of liquidation stakes of companies, undergoing liquidation, pursuant to our General Terms for Rendering Payment of Dividends/ Liquidation Stakes.

Administration of bank accounts for payments under deals with corporate securities of investment intermediaries - members of Central Depository AD

  • UBB coordinates the performance of payments on clients' DVP accounts pursuant to the requirements of the BNB and Central Depository AD.

Advantages:

  • UBB provides reliable execution of transactions;
  • UBB fulfills its functions and provides services competently, accurately and promptly;
  • UBB seeks contact with clients in order to achieve high quality execution of the agreements.     

Terms and conditions:

  • Clients have to be investment intermediaries, licensed by the Financial Supervision Commission;
  • Clients have to sign an agreement for administration of a bank account for settlement of transactions with corporate securities of investment intermediaries, members of the Central Depository AD.

Custodian bank of Pension funds

UBB AD provides the full range of services when performing its function as a custodian bank of funds for supplementary pension insurance:

  1. Safekeeping and administration of registers of foreign financial instruments. UBB AD holds accounts with Clearstream Banking SA - Luxembourg. UBB executes transfers with financial instruments under DVP / DFP transfer conditions and provides access to a number of international markets;   
  2. Safekeeping and administration of registers of local financial instruments, traded on regulated and over-the-counter (OTC) markets. UBB AD performs transactions with government securities, local stocks and corporate bonds, shares of collective investment schemes, rights;
  3. Corporate events – allocation of income (dividends, interest payments), proxy voting, information on income distribution and corporate actions;
  4. Tax services – obtaining relief at source, implementation of Treaties for avoidance of double taxation;
  5. Reports and statements as per regulatory requirements and tailored to clients’ needs;
  6. Other specific terms and conditions subject to negotiation.

Advantages:   

  • We have long-standing experience in rendering custodian services to funds for supplementary pension insurance;
  • We are fully equipped to perform our custodian functions in compliance with the requirements of the Social Security Code (SSC) and BNB Ordinance No36 on the Custodian Banks under the Social Security Code;
  • We act professionally and responsibly;
  • We guarantee reliable settlement;
  • We are flexible.

Terms and conditions: 

Agreement for custodian services between UBB AD in its capacity as a custodian bank and a Pension Insurance Company, representing and managing the pension funds.

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