arvoosuudet

Arvo-osuudet are dematerialized securities in Finland, represented by electronic records in the book-entry system. They denote ownership in financial instruments such as shares of a company or units in an investment fund, and there are no physical certificates. Ownership is evidenced by entries in a securities account (arvo-osuustili).

In practice, arvo-osuudet are held in an arvo-osuustili at a bank or brokerage, with the account information managed within the Finnish book-entry system operated by Euroclear Finland. When arvo-osuudet are bought or sold, transfers are settled electronically between accounts on the system’s timetable, and custody of the underlying instrument is maintained by a financial institution.

Holding arvo-osuudet gives the investor rights associated with the instrument, such as dividends and, where applicable, voting rights and other corporate actions, which are executed on the basis of the registered owner in the arvo-osuustili. The dematerialized nature of arvo-osuudet supports secure record-keeping, efficient settlement, and easier transfers compared with physical certificates.

Regulatory framework: arvo-osuudet fall under Finnish securities market law and EU financial market directives, with supervision by Finnish authorities and the central settlement and custody functions provided by Euroclear Finland.

Examples include publicly traded shares listed on Nasdaq Helsinki and fund units issued by investment funds available in the Finnish market. The system aims to provide a reliable, transparent, and accessible way to hold and transfer securities electronically.