Euroclear Sweden prepared for Investment savings account

On January 1st 2012, the new savings form Investment savings account was introduced in Sweden. The aim with the service is to simplify savings in financial instruments, such as funds and shares, for private individuals. To handle the new savings form, Euroclear Sweden has further developed the existing service account offering.

The investment savings account is an alternative form of savings for private individuals enabling trading of securities without capital gains taxation. Instead, they pay an annual standard tax rate based on the underlying value of savings. The aim is to make it easier for individuals to trade in financial instruments.

Euroclear Sweden has developed new functionality in the existing service account concept to support the new savings account.

– We continuously develop our service account offering, together with our customers. Our goal is to provide functionality that supports our customers offer as far as possible, says Martin Lerjestam, Product manager at Euroclear Sweden.

Strong interest in the market
Euroclear Sweden today handles more than 1.2 million service accounts. How many individuals that will make use of the Investment savings account cannot be said at present, but Martin Lerjestam sees a lot of interest in the market and the new savings form has received much media attention.