Unified for New Opportunities: Wave 2 - Special migration required for Swiss market fund securities - Update

Note: This announcement, originally published on 10 April 2026, has been updated to communicate additional details on the migration approach and to provide updated TA information. Changes have been highlighted.

Clearstream Europe AG (CEU)¹ is notifying clients of important upcoming changes that will affect Swiss market fund securities currently held on CEU accounts.

Change details

As part of the Unified for New Opportunities (UNO) Wave 2 Activation, the below-mentioned securities that are currently T2S-eligible and held under Collective Safe Custody (CSC) will be reclassified to Non-Collective Safe Custody (NCSC).

This change is necessary to ensure the uninterrupted provision of settlement and custody services ahead of the planned decommissioning of the CEU-SIX SIS link on 1 June 2026. In addition, this will allow clients to benefit from Vestima order routing services. For further details on the overall scope of Wave 2, clients should refer to the UNO rollout documentation page.

Following the activation, affected Swiss market securities held on CEU accounts will be registered directly with the relevant Transfer Agents through Clearstream Banking S.A.'s existing links with the market and subsequently transferred to the corresponding 6-series account.

Migration approach

The migration will take place in two stages:

By 5 May 2026: Client-managed migration

Clients have the option to migrate their positions directly from their CEU accounts to their preferred Clearstream account. Eligible destination accounts include:

• A 6-series account, or
• A Clearstream Banking S.A. (CBL) account.

Detailed instruction formats and operational guidelines to support this process are provided below.

As of 7 May 2026: Clearstream-managed migration

Any securities that have not been migrated by clients by the 5 May 2026 deadline will be automatically migrated by Clearstream as of 7 May 2026. Clearstream will transfer the affected securities from CEU accounts to client's linked 6-series accounts.

Any pending OTC settlement instructions will be cancelled as of end of day on the record date (6 May 2026) and have to be re-instructed by the clients.

Any pending German stock exchange settlement instructions will be cancelled as of end of day on the record date (6 May 2026) and re-instructed by Clearstream.

This migration will be carried out through a CHAN corporate action event. The related notification will be issued approximately two weeks before the migration date. Clients will be able to view the corporate action notification through their usual connectivity channels, the same channels currently used to receive Swiss market corporate action announcements on CEU accounts.

Important Note: The impacted securities will become NCSC-T (T2S eligible) with UNO wave 4 (December 2026).

Instruction formats for client-managed migration

Below are the guidelines for instructing free-of-payment security transfers in the Swiss market. These apply to funds held in the Central Facility for Funds (CFF) with the following Transfer Agents:

• Liechtensteinische Landesbank AG Vaduz
• LGT Bank AG
• Zürcher Kantonalbank
• Vontobel Asset Management AG
• VP Bank AG
   

Delivery format (from CEU via SIX) 

Transfer Agent: LIECHTENSTEINISCHE LANDESBANK AG VADUZ (Dep BB)

CEU to deliver to: 
REAG//SCOM/LI100000 
BUYR//5473.0735.1024 

Transfer Agent: LGT BANK AG (Dep SB)

CEU to deliver to:
REAG//SCOM/LI100026
BUYR//0211990020 

Transfer Agent: LGT BANK AG (Dep R3)

CEU to deliver to:
REAG//SCOM/LI100026
BUYR//0109752628

Transfer Agent: ZURCHER KANTONALBANK (Dep MZ)

CEU to deliver to: 
REAG//SCOM/CH102199 
BUYR//12600001159577 

Transfer Agent: VONTOBEL ASSET MANAGEMENT AG (Dep OA)

CEU to deliver to: 
DEAG/REAG//SCOM/CH104026 
BUYR/SELL//VNT0000001 

Transfer Agent: VP BANK AG (Dep XV)

CEU to deliver to:
DEAG/REAG//SCOM/LI100018
BUYR/SELL//95.200.237.912 

Receipt format (to 6-series or CBL accounts via CBL link with Transfer Agent) 

PSET//CEDELULLXXX 
DEAG//FMA01 
SELL//SCOM/DE100002  (CEU BP ID in SECOM) 

Impacted securities

A preliminary list of affected securities is provided below. Clients should note that this list may be updated in the coming days.

Further Information

For further questions, please contact UNO@clearstream.com.

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1. This Announcement is published by Clearstream Europe AG (CEU), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.