Registered shares

Owners of registered shares in major German companies are customarily recorded in a share register maintained by the issuer or a registrar. Entry onto the register grants the owner shareholder rights over the company.

Issuers and holders of these shares can use our German central securities depository's (Clearstream Europe AG – CEU) registered shares services (also known as CASCADE-RS) to register and transfer the shareholder data.

Our issuer services for registered shares include corporate actions, transmission stops, the migration of share registers and the evaluation of both registered and unregistered positions.

Laws and regulations, such as the EU Shareholders Rights Directive and the German Stock Corporation Act (Aktiengesetz – AktG), call for more transparency and harmonisation of shareholder data. CASCADE-RS provides the necessary tools to be able to comply with these requirements.