Four processes to subscribe in securities

Available methods for investors wishing to invest in a company, fund or special purpose vehicle

The diagram below shows the three different processes which are commonly used:

  1. Subscription directly into the register of the Issuer (SPV below)

  2. Subscription made by the investor through a nominee bank

  3. Subscription is made in Delivery Versus Payment through the clearing system (DVP)

  4. Subscription is made in DVP via Fundsettle Euroclear (for fund shares)

 

 

Preliminary Step : The issuer drafts the investment memorandum, or the prospectus of the security it will issue, and obtain an ISIN number (LU or XS) for the said security. A subscription form is also drafted in respect of the specific format.

 

Direct Subscriptions

Subscriptions in “Nominee”

For Subscriptions via Clearing (for example Clearstream)

For Subscription via Fundsettle Euroclear (for fund shares)

 

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