Investment companies and credit establishments: Investment Service Providers (PSIs) are authorised by the Financial Markets Commission. They have three main functions :

1. Negotiating and trading

PSIs are the only persons authorised to take orders from clients, to know other dealers, to consult price movement files and to conclude settlement and delivery transactions

2. Holding and keeping accounts

PSIs are authorised to keep the accounts and cash balance of their clients

3. Asset management

In this capacity, PSIs act as portfolio management consultants and/or managers without mandate.

The PSIs are the only persons who participate in the entire settlement/delivery cycle.