Danish securities are typically issued and stored electronically in the Danish securities depository, VP SECURITIES (VP). In Denmark, individual investors have a personal custody account at the securities depository, which is managed by an account-holding institution, typically the account holders bank provider.
When you trade securities, trading is also settled by VP, which moves the traded securities between your custody account and your counterparts custody account, while also moving money the other way. At VP money and securities are always settled at the same time to minimise the risk of one party delivering their part of the deal without receiving payment for it.
VP was previously an independent institution, but today it is a public limited company, owned by its users, including the Central Bank of Denmark, mortgage institutions and institutional investors and banks.