Service Offering

Settlement

Monte Titoli offers real time gross settlement for off-exchange transactions on a free of payment (FOP) and against payment (AP) basis on its cross-border markets network.

Connectivity is offered in order to meet the needs of the widest spectrum of investors via :

  • SWIFT 15022 standardized format (preferred)
  • Italian Interbank network (RNI).
  • Web Browser (MT-X)

To learn more about connectivity click here 

 

T2S

Target2 Securities (T2S), the single pan-European platform for securities in central bank money scheduled for adoption by 23 CSDs and 21 European markets, represents one of the milestones towards the ongoing development of a European Capital Markets Union (CMU).

Monte Titoli was the largest CSD in the initial wave of T2S and is fully operational in the pan-European platform.

Monte Titoli aims to strengthen its presence in Europe by serving its Clients with a full set of core and added-value services for T2S markets.

 

Asset Servicing

Monte Titoli offers a comprehensive number of services in the following areas:

Income Collection

Monte Titoli executes income collection on a URF (Upon Receipt of Funds) basis for all eligible instruments on the existing links. Most frequents events are

  • collection of income for debt securities and
  • dividends for equity instruments.

Specific procedures apply to each domestic market. For more information please refer to the MT Tablemat Collection.

Corporate Actions

Monte Titoli offers comprehensive services on international corporate actions. These include:

  • Dividend Payment
  • Bonus Issues
  • Rights Issues
  • Conversion (share vs. share)
  • Mergers
  • Scorporations
  • Grouping (reversed split-ups)
  • Stock Split
  • Warrants exercise
  • Conversions (c. bonds vs. shares)
  • Certifications
  • Redemptions

Monte Titoli is a member of the Corporate Actions Joint Working Group (CAJWG) and contributes, in the framework of the development of TARGET2-Securities, to the activities of the sub Group Corporate Actions. The Italian market’s compliance with the 2009 Standards for Corporate Actions is extremely high and the most recent status update published in Spring 2011 highlights this.

Tax Services

Monte Titoli’s Global Tax service provides a variety of solutions that address the tax needs of Italian and international clients on both domestic and foreign securities.

The Services are fully automated and enable clients to:

  • Maintain the lowest possible withholding rates for their customers (who make elections at various tax rates)
  • Facilitate tax payments and report processing

Tax withholding at sourceis provided in line with provisions of double taxation agreements.

Monte Titoli supports relief at source by:

  • Filing the documentation provided by clients with the local tax authorities
  • Maintaining and supporting the document files
  • Speeding up the process

Monte Titoli supports a full tax reclamation serviceby:

  • Providing the completed official tax reclaim form to the local tax authority
  • Notifying the date of filing with the local tax authorities
  • Providing monthly reclaim reports

Though Monte Titoli cannot act as a Tax advisor for its customers, a dedicated Client Service Officer will support customers in specific tax related matters.

In order to discuss how Monte Titoli could better meet your business needs, please liaise with our Client Service unit or our sales representatives.

 

Add-on services