Euroclear Sweden receives CSD license
Euroclear Sweden has today received its license to operate under the EU’s Central Securities Depository Regulation (CSDR) from the Swedish Financial Supervisory Authority.
CSDR´s main objectives are to increase the efficiency of securities settlement and to establish an enhanced level playing field among European CSDs. CSDR aims to harmonise the settlement discipline, settlement cycle and to provide a set of common requirements for European CSDs.
Michael Carty, CEO of Euroclear Sweden commented:” We are pleased to have been granted authorisation under the CSDR EU regulation. It is an important milestone for the company. This enables us to continue to provide a secure, efficient and stable market infrastructure for the Swedish capital market”.
Euroclear Sweden is authorised for the following core services:
- Initial recording of securities in a book-entry system (‘notary service’)
- Providing and maintaining securities accounts at the top tier level (‘central maintenance service’)
- Operating a securities settlement system (‘settlement service’).
Included in the authorisation are also several ancillary services.
For further information, please contact:
Karin Strand, Head of Communications, Euroclear Sweden
Tel: +46 736 84 92 62
Craig MacDonald, Head of Media Relations, Euroclear Group
Tel: +44 207 849 0315
About Euroclear Sweden
Euroclear Sweden has been the Swedish Central Securities Depository since 1971. As a financial market infrastructure, we provide issuance, settlement, safe-keeping and servicing of securities, which contribute to the secure and efficient functioning of the Swedish financial market. Since 2008, the company is part of Euroclear group, which includes Euroclear Bank - rated AA+ by Fitch Ratings and AA by Standard & Poor’s - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. www.euroclear.com/sweden