Realignment Guide - Denmark

06.02.2017

The links between Clearstream Banking’s platforms, CASCADE and Creation, and several Central Securities Depositories (CSDs) enable customers to transfer eligible securities1 from one platform to the other, for example, from Collective Safe Custody (CSC) to Non-Collective Safe Custody (NCSC) and vice versa. These transfers, which exclude by definition any change of beneficial ownership, are referred to in this document as Creation-CASCADE realignments.
The realignment process is initiated by customers as follows:

  • For realignment from CASCADE to Creation:
    • In CASCADE, by an instruction to deliver securities free of payment to the account of Clearstream Banking SA, Luxembourg with the corresponding depository, in favour of the customer’s account in Creation.
    • In Creation, by an instruction to receive securities, free of payment, from CASCADE.
  • For realignment from Creation to CASCADE:
    • In Creation, by an instruction to deliver securities, free of payment, to the account of Clearstream Banking AG, Frankfurt with the corresponding CSD, in favour of the customer’s account in CASCADE.
    • In CASCADE, by an instruction to receive securities, free of payment, from Creation, if the receiving account is set up for “active” matching in CASCADE. 

Disclaimer

Clearstream Banking does not accept any responsibility for any cross-border settlement delays. The instruction specifications contained in this document are correct at the time of its publication for currently eligible securities

Please note that Clearstream Banking is not always advised of changes affecting these specifications. However, Clearstream Banking will update this document on the Clearstream Banking web site (www.clearstream.com) as soon as it is made aware of any amendment.

1. To be eligible for realignment, a security must be accepted in CASCADE, in Creation and by the appropriate CSD.