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Securities transfer without payment

A securities transfer without payment is similar to a securities transfer for payment, but only securities are transferred through the bank.

The buyer and the seller determine the quantity of the security and the value date (the date when the securities change owners) before they send the transaction order. The parties may also agree in the price of securities, but they must keep in mind that no money is transferred within the scope of the transaction, as it must be done independently.

The buyer of the securities then submits an order for a purchase transaction without payment to their account manager and the seller submits an order for a sale transaction without payment.

Both of the parties to the transaction must indicate the following in the order:

  • the securities account number and account manager of the counterparty
  • the quantity of securities
  • the price of securities (may be left undetermined)
  • the transaction date
  • the value date  

The transaction is performed if the seller and the buyer have submitted their orders at the right time and the details of the orders match.

On the value date the bank transfers the securities from the seller's securities account to the buyer's securities account.

You can transfer pension fund units only to your other securities account. 

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