When buying or selling securities the VPS account is credited or debited accordingly. Interest and dividends are automatically paid to the corresponding bank account.
Security is very important to us at VPS. And it is essential that customers also feel confident that their securities are safe with us. Our unique system automatically generates legal protection for the holdings at any given time credited to the VPS account. This is a great advantage for the investors, especially in connection with collateralisation and pledging of securities.
On 3 February, it was 30 years since the first VPS account was opened. At the time it was a big event and it formed the basis for the electronical securities’ industry as we know it today.
Håkon Persen Søderstrøm was the first to open a VPS account. He is currently a director and heading the Norwegian shares team at Danske Capital AS in Oslo.
I remember well the day VPS opened for account registration! It was in the spring of 1986. I was working at Fondsfinans and was responsible for the computer systems there. At that time our link to VPS was PC-based and not integrated in our systems. I decided that I should be the one to register the first account, so I was ready from 07:45 waiting for the system to be connected. And at 08:00, when the system opened for registration, I pressed the button and actually became the first to register a VPS account, says Søderstrøm.
On this day back in 1986, 150 VPS accounts were opened. 8 of the initial 150 accounts are still existing today, including the first VPS account opened by Mr. Søderstrøm. And since 1986, many VPS accounts have been opened. For a lon time we have had over a million VPS accounts, and as of 31 March, a total of 1,205,976 accounts with an asset value of NOK 4,524 billion are registered in our systems.
