portefeuilleverandeling

Portefeuilleverandeling is the Dutch term for the process by which an investment portfolio—typically a collection of securities such as shares, bonds, or derivatives—is formally transferred from a seller to a buyer. The operation takes place at the end of a trading day and is designed to satisfy the delivery obligations that arise from the closing price of each security in the portfolio. Unlike a single security transaction, portefeuilleverandeling involves many instruments at once and often requires the coordination of multiple clearing and settlement systems.

In practice, a broker‑dealer will receive an instruction from a client to deliver a portfolio that matches a particular investment strategy or benchmark. The broker identifies the required securities and initiates the settlement through the central counterparty (CCP) of the relevant exchange. The CCP ensures that the seller’s balance sheet is debited and the buyer’s is credited, using a delivery versus payment (DvP) mechanism that eliminates settlement risk. In the Netherlands, this process is governed by the Dutch Financial Supervision Act, the EU's MiFID II directive, and the settlement rules of Euronext Amsterdam.

Portefeuilleverandeling is critical for the efficient functioning of market infrastructure. It reduces operational risk, ensures timely delivery of assets, and provides transparency for investors about the exact composition of their holdings. Many asset managers also use automated portefeuilleverandeling services to re‑balance portfolios in real time, improving liquidity management and compliance with regulatory reporting requirements.