UK: Securities held remotely in Switzerland will be migrated to CREST

20.07.2020

Clearstream Banking1 would like to inform customers that effective

24 August 2020

it will migrate UK securities held remotely in Switzerland (UBS) to the home market CREST for value Monday, 24 August 2020.

Impact on customers

On Friday, 21 August 2020 realignment instructions will be sent to both UBS and our UK depository to migrate UK securities for settlement on Monday, 24 August 2020.

From Monday, 24 August 2020 it will no longer be possible to hold UK issued securities via the Swiss market with UBS, they will have to be held in the UK market via CREST.

Pending transactions

Please be advised that all pending transactions in UK securities on the Swiss market not settled by end of day Friday, 21 August 2020 will be cancelled and will need to be reinstructed by customers on the UK market via CREST on Monday, 24 of August.

Further information

For further information, please contact Clearstream Banking Client Services or your 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.