Submission and processing of physical registration documents

For the applications for admission from issuing institutions for physically deposited securities for collective safe custody – either via the counter or electronically via eMission¹ – for efficient and timely processing by Clearstream Europe AG (CEU), it is necessary that:

• The CEU admission forms for the respective type of security, available under Admission requests collective safe custody, are to be completed and signed in a legally binding manner by authorised signatories deposited with CEU for the client.
• A printout of the deposit instruction order entered by the client in CASCADE (KVEW) is attached.
• The issue documents relevant to the respective type of security and issue (see table below) are complete and consistent.
• There is a declaration by a third-party bank with a CEU connection to take over the collection agent function vis-à-vis CEU ("paying agent declaration"), provided that the client accompanying the issue does not assume the role of collection agency for the security to be admitted; and
• CEU provides custody and administration services in relation to the jurisdiction and legal structure (bearer or registered security) under which the relevant security is to be issued.

In principle, the processing is carried out in the order in which CEU receives the complete, consistent marketing authorisation applications, considering the date of issuance requested by the client – if this is not CEU's business day, the next business day – on a "best effort" basis. After receipt of the applications for authorisation, CEU will cursorily check whether all above-mentioned formal admission requirements are met. If this is not the case, CEU will inform the issuing client and, if applicable, the designated collection agency in an appropriate form. It is solely the responsibility of the client accompanying the issue to provide the missing documents and information or to work towards them with third parties.

In the case of complete applications for admission to physically delivered securities, CEU guarantees that the entry will be in line with the value on the date of issue – if this is not CEU's business day, on the next business day – only if:

• They have been demonstrably received by CEU before the closing times set out in the table below;
• No legal, operational or compliance-related obstacles to timely booking by CEU are identified in the course of the admission review in the individual case,
• The ISIN for the security to be admitted is registered with the responsible ISIN issuer (in Germany: WM Datenservice) and is activated for the custody type collective safe custody or, in the case of non-DE ISINs, has been registered with WM Datenservice and activated in its database for custody type collective safe custody.

For physically delivered bonds and bond-like securities, shares and investment shares (mutual funds, alternative investment funds), the following tables provide an overview of:

• The applicable law;
• The required registration documents;
• The closing time of consignment for a guaranteed date of issuance or value date.

The corresponding application forms for the various types of instruments and own or third-party issues are available under Admission requests collective safe custody.

CEU points out that incomplete or inconsistent admission requests and documents can only be retained by CEU for a limited period of time, in particular for auditing reasons, and will ultimately be returned for a fee, unless the client accompanying the issue demonstrably and promptly makes efforts to clarify open points.

The procedures and requirements summarised above largely reflect the core elements of CEU's long-standing practice in processing applications for admission to securities for collective safe custody. CEU therefore asks clients acting as issuing institutions and collection agencies to observe these "best practice" rules in the interest of all market participants in the efficient and speedy processing of admission authorisation applications. This avoids unnecessary queries and delays in processing.

CEU reserves the right to unilaterally amend the closing times applicable to the admission of any or all types of securities or the documentation required therefore, in particular due to possible future regulatory requirements. CEU will inform its clients of any changes in good time with a notice period of four weeks.

Overview of bonds and bond-related securities

a. All times refer to the German time zone (CET or CEST)
b. HR excerpt, short for: Commercial register excerpt

Overview shares

a. All times refer to the German time zone (CET or CEST).
b. The closing time can be modified by the "CASCADE Roadmap" drawn up in individual cases for the inclusion of registered shares in collective safe custody.

Overview investment shares (mutual funds, alternative investment funds)

a. All times refer to the German time zone (CET or CEST).
 

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1. For users of the eMission service, the regulations apply upon conclusion of the necessary separate contractual agreement with CEU.