Euroclear Sweden: Decision to close down U.S. CSD Link
Clearstream Banking1 informs customers that further to the previous announcements made by Euroclear Sweden regarding its review of the investor CSD offering and the closing of the Estonian link, Euroclear Sweden informed of its decision to close the CSD link to the United States (the “U.S. Link”).
Impact on customers
The close down of the Euroclear Sweden U.S. Link will affect Clearstream Banking customers holding one or more of the following financial instruments within the Clearstream Banking indirect link to Euroclear Sweden AB, via Skandinaviska Enskilda Banken AB:
Immune Pharmaceuticals Inc.
Oncotelic Therapeutics Inc.
Powerwave Technologies Inc.
No later than 1 April 2023, Clearstream Banking customers are required to arrange for a new safekeeping and settlement solution for instruments listed above, whereby one holding possibility Clearstream Banking offers is its indirect link to The Depository Trust Company, via Citibank N.A., New York branch.
As of 1 April 2023, Euroclear Sweden will cease to offer standard settlement services and will no longer process any corporate actions on the financial instruments listed above. Customers should also note that as Euroclear Sweden will no longer be able to provide services to settle and safekeep these securities as of this date, this may have an impact on any current listing of these securities.
For further information, customers may contact Clearstream Banking Client Services or their 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.