Multi-Market Securities

Securities listed on one domestic stock exchange may also be listed on other exchanges outside of the domestic market. These Multi-Market securities are traded on more than one stock exchange and are eligible for deposit and settlement in more than one CSD.

Customers can trade and settle such securities in both the “home market” (generally the issuer’s market), in a “remote market” (a domestic market other than the issuer’s) and in cross-border transactions between the home market and a remote market.

Multi-market settlement

Multi-market securities can be settled through and deposited with Clearstream. The service offers:

• A single point of access for the settlement of both internal and domestic instructions on Multi-Market securities, on home or remote markets, free of and against payment;
• Cross-border settlement of Multi-Market securities between the home and remote markets in favour of a third party, free of payment;
• Cross-border settlement of Multi-Market securities for the realignment of assets between markets without a change of beneficial owner, free-of-payment.

In general, Bridge instructions are not allowed for securities listed on remote markets.