Safekeeping & Settlement
The bank offers managers a two prong settlement and custody solution –
- Directly via the bank’s trade desk
- Via an alternative execution venue giving managers the flexibility of being able to select their own execution venue. DVP (delivery versus payment) transactions would allow for the latter option.
All assets must settle and be safekept within the bank’s fund custody infrastructure. Our infrastructure is large, robust and far reaching. Custody accounts are held as ‘Clients’ Accounts’ and are well segregated from the Bank’s assets in accordance with the Control of Assets Regulations. Sparkasse Bank Malta plc ensures that records and segregated accounts are continuously reconciled efficiently as to guarantee high level of accuracy of the Investment Funds’ holdings. The safe-keeping requirement in terms of the assets held in custody include: due diligence visits and audits on sub-custodians, rigorous reconciliations with counterparties, and on-going monitoring procedures in order to combat and minimise the chance of fraud, negligence and inadequate registration.