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Vennex
Moving Capital Forward
For companies and companies funded via crowdfunders, Vennex provides a regulated electronic security register, a payment solution, corporate actions support and a trading venue (MTF) to unburden your financial related operational needs. The Vennex services are provided via AFS Group subsidiaries and regulated entities: AFS Execution Services BV (custody, payments and execution) and AFS E-Venues BV (Multilateral Trading Facility).
Electronic security register and custody services
Newly issued bonds, equities or certificates (collectively referred to as "securities") must be safeguarded and administered by a regulated custodian. The Vennex team can assist you in issuing securities. Vennex, as an admitted institution by Euroclear, will place these issued securities in their giro depot. This brings the securities under the protection of the wge (weg giraal effectenverkeer) and make them eligible for trading.
Vennex as custodian has legal responsibility for the following timely and accurate activities related to the issued security:
- Accurate giro secured administration and recordkeeping of your securities.
- Corporate action services such as stock splits, dividend or coupon payment.
- Settlement of transaction (delivery versus payment).
- Tax reporting to the relevant tax authorities and annual statements to clients/investors.
Payment services via the RAV
Vennex, in collaboration with ABNAMRO Clearing bank, provide each company and each individual investor and security holder of that company, with a Segregated Payment Account (Rekening Afgescheiden Vermogen (RAV)). This RAV is set up in a way the funds will not be affected by a default of AFS Execution Services (the company behind Vennex who provides the RAV). Deposits on the RAV are also covered by the Deposit Guarantee Scheme in the Netherlands. Vennex provides the following services via the RAV:
- For primary issues, the collecting of the funding of the individual investor and transfer this to the issuing company.
- For corporate actions, the collecting of interest, coupon or principal payment from the company and transfer this to the specific investor (bond certificate or equity holder) of that company.
- For secondary trading (the buy and sell on the trading venue), the collection of the buyer to transfer it to the seller under the guarantee of delivery versus payment.
Tradability
Vennex operates a digital trading venue (an exchange) with a Multilateral Trading Facility license (MTF), to provide tradability services for, by the company or crowdfunder admitted and approved investors and security holders.
- Via Vennex MTF investor can carry out unlimited security transactions without the intervention of a notary. All under the trading restrictions of the specific company or crowdfunder.
- Via Vennex MTF you can organize your own auction.
- Vennex will take care of the instant security and cash transfer between buyer and seller and the additional adjustment in the security administration.
For the avoidance of doubt: Vennex doesn’t offer public trading and/or the raising of capital for primary issues.
Pricing
For the administration, custody and tradability of an individual security (bond, equity or certificate) we charge 10 basis points (0.1%) on the nominal value of the security with a minimum of Eur 3,000 per year and a maximum of Eur 12,000 per year excluding VAT, charged monthly.
This includes:
- Onboarding and KYC of the company, investors and security holders (if you provide the necessary data such as name, address, and identification).
- Up to 400 accounts, including login, security and cash account (with ABNAMRO Clearingbank) per security.
- Placing and storage of the security in the Euroclear depot.
- 2 corporate actions per year (primary payment, dividend or coupon payment, redemption and/or principal payment).
- GUI or API-interface.
Per transaction on the Vennex MTF we charge the buyer and the seller 10 basis points (0.1%) over the nominal value of the transaction with a minimum of Eur 2 per transaction and a maximum of Eur 50 per transaction. This is VAT exempt.