The Central Securities Depository of Lithuania (the CSDL) is a public limited liability company acting in accordance with the Law on Markets in Financial Instruments of the and the CSDL’s Statute.
The fundamental objective of the CSDL is a conduct of general accounting of financial instruments. The main duties of the CSDL are:
· prepare and present to the Lithuanian Securities Commission for its approval the Rules on the Accounting of Financial Instruments and their Circulation;
· prepare and approve instructions of financial instrument accounting, also other documents governing the accounting of financial instruments and their circulation;
· open and manage financial instrument accounts of account managers and personal financial instrument accounts;
· ensure that during execution of transactions in financial instruments the financial instruments are timely transferred from the financial instrument account of one account manager to the financial instrument account of another account manager;
· ensure that the number of financial instruments of each issue placed for circulation corresponds to the number of financial instruments actually outstanding;
· develop and implement measures ensuring the integrity and security of the financial instrument accounting system;
· monitor the compliance of the account managers with the rules on the accounting of financial instruments and other documents governing the accounting of financial instruments and their circulation;
· accumulate, process, and disseminate information concerning accounting of financial instruments, train and consult specialists in financial instrument accounting;
· issue to account managers statements of their financial instrument accounts.