The Securities Lending Management Service (SGE) is an IT platform, managed by Euronext Securities Porto, which allows the Financial Intermediaries and other similar Entities:
The securities eligible for lending operations are the shares that constitute the PSI-20 index.
All Euronext Securities Porto Participants have access to the securities lending service provided through the SGE.
The lending instructions may be registered through STD (Data Transfer System), using STP (Straight Through Processing) messages or by sending a file.
The limit date for the closing date of the lending operations is 2 years, nevertheless it is being possible to register operations without a closing date (open-end operations).
A securities lending operation consist of two linked settlements, the opening and the closing operations, that are processed in the system under the conditions agreed between the counterparties of the operation.
The system allows the registration of a lending request instruction or offer of securities without identifying the counterparty Participant and being disseminated by all the Participants of the system.
It is also possible to identify the counterparty Participant in the registration of a lending request instruction or offer of securities, in which case this information is only disseminated to the counterparty Participant (bilateral registration).
The System also allows the registration of lending operations, in which the Participant in the SGE has both the functions of borrower and lender (in-house lending’s).
As soon as the lending instruction is confirmed, the information is transmitted to the counterparties informing them that the lending operation is confirmed. This operation will be opened immediately if the lending opening date is the date of confirmation of the transaction, otherwise it will be opened at a future date agreed by the parties.
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07h45: Processing of corporate actions in open lending operations (dividend compensation or cancellation) |
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08h30: Start of the operations registration |
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10h30: Processing the opening of forward lending operations and the updating of the guarantees |
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13h00: Processing the closing of lending operations |
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14h50: Limit for opening same-day (real time) lending operations (10 minutes before DVP cut-off at T2S) |
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17h00: End of registration of lending operations |
Please Note: Portugal uses WET (Western European Time), which is -1 hour than CET (Central European Time).
English Version
Sistema de Gestão de Empréstimos (Securities Lending Service)
Portuguese Version