Securities that are held in collective safe custody require a paying agent. In addition, according to the German Securities Trading Act, listed issuers of securities also must appoint a paying agent. The assumption of the paying agent function includes, on the one hand, the function as contact and coordinator for various external bodies (Clearstream Banking, custodian banks, stock exchanges, etc.) and, on the other hand, the processing of dividend payments (shares) or interest or redemption payments (e.g. bonds) via the central securities depository.
