South Africa: Enhanced asset protection of link to Strate
Clearstream Banking1 would like to inform customers that effective
14 July 2020
a Segregated Depository Account (SDA) will open in the name of Clearstream Banking at CSD level (Strate Pty Ltd).
Currently, Clearstream Banking’s South African securities are held within the omnibus account structure of the Standard Chartered Bank (Johannesburg branch) and recorded in the name of Standard Chartered Nominees South Africa (Pty) Ltd. The opening of the SDA at Strate will allow for the legal record of ownership to be recorded directly with Strate in the name of Clearstream Banking and as a result, will further enhance the asset protection of its link to the South African market.
Impact on customers
There will be no operational impacts on customers as the securities SSIs (Procedures for domestic counterparties) will remain unchanged.
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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.