Euroclear Belgium launches Securities Dematerialisation Service
Euroclear Belgium has announced the launch of Capitrack, a service offered to securities issuers that are obliged to adapt to the new Belgian securities dematerialisation law aimed at removing physical securities from the Belgian capital market. As of 1 January 2008, it will no longer be possible to issue and deliver bearer securities in physical form within Belgium. All outstanding bearer securities will gradually be dematerialised. Capitrack is a service designed specially for issuers, allowing them to easily monitor the dematerialisation process of their issued securities. According to Euroclear, it gives issuers a complete view, at any time, of the proportion of these securities in various forms (bearer, dematerialised and nominative). Euroclear Belgium’s first dematerialisation service agreement was signed with the REIT (Sicafi) Retail Estates, a Belgian company investing in shopping premises located on the periphery of cities and along the approach roads to urban centres in Belgium and Luxembourg.