Rules & Regulations / VP Lux

Rules & Regulations

VP LUX is a regulated Financial Service Provider (PSF, Prestateur de Service Financier) and licensed by the (CSSF, Commission de Surveillance du Secteur Financier) as a Central Securities Depository (CSD) in Luxembourg.

VP LUX is authorised as operator of a Securities Settlement System in accordance with the relevant laws of Luxembourg, in particular including:

  • The Financial Sector Act 1993 (April 5, 1993 on the financial sector, as amended)
  • The Financial Collateral Act 2005 (August 5, 2005 on financial collateral arrangements, as amended)
  • The Finality Act 2001 (January 12, 2001, Mémorial A 2001, No. 16, p. 681), implementing the European directive 98/26/EC of May 19, 1998 on settlement finality in payment and securities settlement systems (the “Settlement Finality Directive”)
  • The Payment Services Act (November 10, 2009 on payment services)

Laws, regulations  and circulars applicable to the VP LUX activities are available on

VP LUX Disclosure Framework (PDF)

Participants with VP LUX are required to enter into a Participant Agreement with VP LUX. Participants automatically become an account holder and clearing member. Participants can also choose to assume the role of Issuer.

Settlement via VP LUX

The VP LUX Articles of Association regulate aspects of VP LUX's mission, capital, management, governance, accounts and audit.