Securities admission


Before securities are admitted to our Global Issuer Hub, they must first pass stringent eligibility checks and comply with numerous market standards and compliance rules.

Issuers, issuing agents, law firms and lead managers are continually supported with guidance and advice to ensure high quality standards across the entire securities lifecycle. This advisory service includes reviews of issuance structures and information on operational procedures for specific features or requirements of a new issue and the documentation thereof.

Clearstream performs extensive eligibility checks on each directly-deposited security before it is admitted into the Global Issuer Hub. Each security is assessed from a legal, operational and tax perspective depending on the type of security or programme facility. If the documentation provided by the issuer or his agent is comprehensive, the issue is more likely to be admitted quickly. It is essential for us to ‘know our customers’ to ensure adherence to our high compliance standards.

In addition, together with Euroclear Bank, we have issued a joint bulletin "Eligibility criteria for tax information upon securities acceptance".  The bulletin is intended to provide practical guidance, regarding the required tax information, which issuers, Issuer’s Agents and Common Depositories must provide to the International Central Securities Depositories (ICSDs), Euroclear Bank and Clearstream Banking S.A., upon securities acceptance. All parties should be reminded that the ICSDs should be informed of a non-standard tax requirement at the very early stage of any proposed issuance or programme and prior to listing.