Euroclear Sweden AB receives authorisation to be central securities depository under CSDR

Euroclear Sweden AB has previously held authorisation to act as a central securities depository under national legislation, but CSDR contains a requirement that central securities depositories must be authorised under CSDR.

CSDR aims to improve security and efficiency in the settlement within the Union as well as to increase competition and prevent unharmonised application of national rules to central securities depositories.

The authorisation encompasses 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')

The authorisation also encompasses some ancillary services.

A register of the central securities depositories authorised under CSDR is available at the website of the European Securities and Markets Authority (ESMA).