Sweden: Migration of assets to a new account - update

17.10.2018

Note: This Announcement, originally published on 4 October 2018, has been updated to inform of the early settlement deadline at 14:00 on Friday 19 October 2018.

Effective

19 October 2018

Clearstream Banking1 will migrate Swedish securities settling in the AM sub-system2 of Euroclear Sweden to a new segregated account where only securities of Clearstream Banking customers will be held.

This is in order to ensure compliance with CSDR and provide better protection of customer assets.

Impact on customers

In order to facilitate the migration, Clearstream Banking will apply an early deadline on Friday 19 October 2018 at 14:00 for all free of and against payment domestic settlement instructions.

Securities will be migrated after the customer instruction deadlines.

Pending and unmatched settlement instructions on the migration date will be cancelled by Clearstream Banking. Customers will have to re-instruct after the successful completion of the migration on Monday 22 October 2018.

Matched instructions will be migrated by Clearstream Banking upon settlement confirmation and no action is required from customers.

Customers are requested to provide their settlement instructions with requested settlement date on or after Monday 22 October 2018 only from 22 October 2018.

Procedures for domestic counterparties

There is no change to the Standard Settlement Instructions (SSI).

Instruction specifications

Instruction specifications for Xact via SWIFT, Xact File Transfer, CreationOnline and Xact Web Portal remain unchanged.

Further information

The Market Link Guide – Sweden is available on the Clearstream website.

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500. (CBL).

2. AM sub-system eligible securities are equities, equity-related instruments and some corporate bonds.