To ensure that our future services will hold a high quality and will be efficient for the entire value chain, and at the same time meet the official requirements from the authorities, it is of paramount importance to have a close dialogue with the market participants.
Based on this, VPS has established a “Market Advisory Board” (MAB). The MAB will function as a meeting point to discuss e.g. consequences of changes in the Norwegian and the international securities markets.
In addition to the VPS representatives, the MAB will have a total of ten representatives from our major clients. The Nordic Banks (Danske Bank, DNB, Handelsbanken, Nordea and SEB) have one representative each. The two Norwegian banking groups, SpareBank1 Gruppen and Eika Gruppen, are also represented by one representative each. In addition three representatives from Norwegian independent investment firms (not owned by banks) are members of the MAB. The MAB is chaired by Mr John-Arne Haugerud (VPS). Additional VPS representatives are Mr Sveinung Dyrdal and Mr Kjell-Ivar Moe (secretary). Other delegates are invited to present or discuss specific topics on an adhoc basis.
MAB will be consulted on all substantial issues that are related to products and services that involve VPS. Examples thereto are:
- Changes to European and local public regulations that may have consequences for the participants in the Norwegian and the Nordic securities markets.
- Changes to the participants’ operational or strategic business models.
- How may VPS be able to contribute to increased efficiency and automation of its customers.
- Initiatives to harmonise and standardise the market.
MAB will convene minimum 4 times a year.
MAB may establish single purpose groups to discuss specific topics. Groups for corporate actions and settlement have been established and have held meetings so far.