Switzerland: U.S. Securities held remotely in Switzerland will be migrated to back to the home market CSD (DTC)
Clearstream Banking1 would like to inform customers that effective
30 November 2021
it will migrate U.S., securities held remotely in Switzerland (UBS) to the home market CSD (DTC) for value Wednesday, 1 December 2021.
On Tuesday, 30 November 2021 at 13:00 CET settlement will be suspended for the impacted securities and realignment instructions will be sent to both UBS and Clearstream Banking’s U.S. depository to migrate securities held remotely for settlement on Wednesday, 1 December 2021.
From Tuesday, 30 November 2021 at 13:00 CET it will no longer be possible to hold U.S. issued securities via the Swiss market with UBS, they will have to be held in the U.S. domestic market via the U.S. home market CSD (DTC).
Customers should take note that all pending transactions in U.S. securities on the Swiss market not settled by 13:00 CET Tuesday, 30 November 2021 will be cancelled and will need to be reinstructed by customers on the U.S. domestic market via the home market CSD (DTC) on Wednesday, 1 December 2021.
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.