What VP Securities does

VP Securities A/S, commercially branded as Euronext Securities Copenhagen, is the central securities depository (CSD) for Denmark. Founded in 1980 and headquartered at Nicolai Eigtveds Gade 8 in Copenhagen, the company registers and administers securities — primarily bonds, shares, and other financial instruments — for Danish financial institutions including mortgage banks, realkredit institutions, and listed companies on NASDAQ Copenhagen. Its core technology is a unified securities registration and registry infrastructure integrated with NASDAQ Copenhagen A/S for trading admission, providing custody and settlement pipelines for the Danish market. Customer access is delivered through the Euronext Securities Copenhagen Customer Center (cc.vp.dk), an authenticated portal requiring CDIdent and company verification.

The business model combines transaction-based fees for securities registration (e.g., new covered bond issuance for mortgage providers such as Jyske Realkredit) with recurring subscription-style revenue from custody and settlement services for institutional clients. Revenue mechanics are anchored to issuance volumes, custody balances, and settlement activity across the Danish capital market. The company serves three primary segments: mortgage banks and realkredit institutions (bond registration for covered bonds with maturities of 10–30 years), listed companies on NASDAQ Copenhagen (share registry and corporate actions such as reverse stock splits), and broader securities services customers accessing the CSD platform. Following its 2023 acquisition by Euronext, VP Securities operates within Euronext's post-trade services division across Nordic markets, retaining its Danish CSD monopoly and integrating into the broader Euronext Securities group architecture. Leadership consists of CEO Niels Olsen and CFO Niels Rotendahl, with the company employing 101–250 staff.

Name

VP Securities

Legal name

VP Securities A/S

Website

https://vp.dk

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

101–250 employees

Short description

VP Securities A/S (Euronext Securities Copenhagen) is Denmark's central securities depository, registering bonds and shares, and providing custody and settlement infrastructure for Danish financial institutions and listed companies on NASDAQ Copenhagen.

Ownership category

akta.pro rank

Product category

Central Securities Depository (CSD) / Post-Trade Financial Market Infrastructure

NAICS

Securities and Commodity Exchanges (5232), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

International CSDs (ICSDs) (FSAFAGAB)

akta.pro secondary industries

Securities Safekeeping & Asset Servicing (Core Custody Ops) (FSACAHAF), Securities Lending & Collateral Management (Custodian-Led) (FSAFAHAC), Securities Settlement Systems (SSSs) for Government & Central Bank Securities (FSAFAGAC)

Keywords

• Central securities depository
• Securities registration services
• Post-trade infrastructure
• Bond custody settlement
• Share registry services

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Securities Registration Services: VP Securities registers securities including bonds and shares, acting as the central securities depository for the Danish market. Revenue derived from registration and processing fees for securities transactions.
2. Custodian and Settlement Services: Provides custody and settlement infrastructure for securities registered through the platform, supporting the Danish financial market infrastructure.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

VP Securities A/S, operating as Euronext Securities Copenhagen, is the central securities depository for Denmark, providing securities registration, custody, and settlement services for bonds, shares, and other financial instruments. The company serves banks, mortgage institutions, and listed companies through a regulated CSD platform integrated with NASDAQ Copenhagen for trading admission.

Product overview

VP Securities A/S (operating as Euronext Securities Copenhagen) is a central securities depository providing infrastructure services for the Danish financial market. The company operates a unified platform offering securities registration and custody services, connected to NASDAQ Copenhagen for listed instruments trading. The Customer Center serves as the primary user-facing portal for account management and securities services access.

Differentiator

Problem solved

Functional benefit

Products and services

• Customer Center Secure online portal for securities services customers (financial institutions, mortgage providers, listed companies) to access and manage their accounts, view holdings, and handle securities-related transactions. Access requires sign-up with CDIdent and company verification.
• Securities Registration Services Central securities depository services for registering and administering bonds, shares, and other financial instruments on behalf of issuers, including DKK-denominated fixed-rate callable bonds (annuity and interest-only) with maturities from 10 to 30 years, and equity securities listed on NASDAQ Copenhagen.

Quantifiable outcome

• Enables registration of multiple bond types across various loan products (annuity and interest-only) with maturities from 10 to 30 years

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Jyske RealkreditcoreStrategic or Co-development Partner · 10 June 2026Jyske Realkredit issues covered bonds registered with VP Securities through Capital Centre E. VP Securities registers four types of DKK-denominated fixed-rate callable bonds with maturities ranging from 10 to 30 years, supporting annuity and interest-only loan products.
• NASDAQ Copenhagen A/ScoreTechnology or Integration · 10 June 2026VP Securities integrates with NASDAQ Copenhagen for securities trading admission. Bonds registered with VP Securities seek admission to trading on NASDAQ Copenhagen A/S following registration.
• NewCap Holding A/ScoreStrategic or Co-development Partner · 21 April 2026VP Securities processes NewCap Holding A/S reverse stock split at 2000:1 ratio. VP Securities manages the share registry for the consolidation of 2,000 existing shares of nominal DKK 0.05 each into 1 new share of nominal DKK 100.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Euroclear: International Central Securities Depository operating across multiple European markets. As VP Securities' most direct peer in CSD services, Euroclear competes for cross-border Danish securities activity and represents the dominant pan-European settlement infrastructure.
• Clearstream: Deutsche Börse-owned ICSD providing settlement, custody, and collateral management. Direct competitor to VP Securities for Danish securities settling internationally and for cross-border post-trade services in the Nordics.
• Nasdaq CSD: CSD operated by Nasdaq serving the Nordics and Baltics. As a sibling CSD under competing exchange operators, Nasdaq CSD is the most direct functional peer to VP Securities and competes for Nordic securities infrastructure mandates.
• Euronext Securities Milan: Sister CSD within Euronext's post-trade division serving the Italian market. Operates the same parent platform (Euronext Securities), serving as both an operational peer and a benchmark for VP's role in Euronext's pan-European CSD strategy.
• SIX SIS: Swiss CSD operated by SIX Group providing settlement and custody services for the Swiss market. Comparable mid-sized European CSD with similar regulatory monopoly model and post-trade services portfolio.
• Iberclear: Spanish CSD operated by Banco de España. Comparable domestic CSD model serving a single country's settlement needs, providing a useful benchmark for valuation and operating metrics.
• Monte Titoli: Italian CSD now part of Euronext's post-trade division. Sibling entity to VP Securities and a directly comparable domestic CSD within the same parent group.
• KDPW (Krajowy Depozyt Papierów Wartościowych): Polish CSD providing securities registration and settlement infrastructure. Comparable domestic CSD serving a single national market with similar regulatory monopoly characteristics.

Broad incumbents

• LCH (LSEG): Major post-trade infrastructure operator owned by London Stock Exchange Group. While LCH is more focused on clearing than CSD, it competes in adjacent post-trade services and represents an established European incumbent in market infrastructure.
• Euronext: VP Securities' parent company and the broader pan-European exchange and post-trade operator. As both parent and broader market infrastructure provider, Euronext is the closest contextual peer and validates the strategic value of CSD assets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/VPSECURITIES

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VP Securities