What are securities?
Securities cover the whole range of investment products from simple (equities, bonds, investment funds, etc.) to complex (derivatives, private equity, etc.), either traded on organised markets such as stock exchanges or directly between two counterparties.
The main task of the Securities department is to hold all the securities of ING Luxembourg’s internal, external, local and international customers and to execute all the necessary transactions with them on the markets and the customers’ accounts. Securities transactions are ordered by customers or their representatives or initiated by securities issuers.
Each security is held and allocated to different counterparties located in around fifty countries. We are responsible for checking on an ongoing basis that the assets held by these counterparties correspond to those recorded on our customers’ accounts. The characteristics and valuation of the securities are continuously updated in our systems, allowing our customers to check the status of their portfolio assets at any time.
Additionally, procedures have to be adapted in order to comply with the constant changes being implemented in national and international laws and regulations. The same applies to the new policy on independent investment fund custodians. Anticipation of these changes and new customer requirements are therefore analysed by the support teams on an ongoing basis.
A total of nearly 70 employees work in this department.
The various teams in the Securities department ensure that transactions are properly executed for customers, support the commercial functions by providing technical expertise and monitor compliance with internal and market rules.