Clearstream selects WM Gruppe for SRD II 20 August 2020Luxembourg Reporter: Rebecca Delaney
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Clearstream has selected WM Gruppe as a service provider to meet requirements under the second Shareholder Rights Directive (SRD II), which comes into force on 3 September.
As part of the agreement, Clearstream will be able to access the WM-SRD-Hub technology platform for its three central securities depositories (CSDs) LuxCSD, Clearstream Banking S.A. and Clearstream Banking AG.
WM Gruppe will provide services including verification of requests by public companies on regulated European trading venues, answering requests for shareholder identification, and providing aggregated response files to the receiving public companies.
Philippe Mueller, head of issuer CSD services at Clearstream, commented: “With the WM-SRD-Hub, we are adding an important component to our range of investor communication services. Public companies will be able to obtain required information about their shareholders easily, quickly and transparently from day one of the regulation.”
The WM-SRD-Hub will be operated in Germany and meets the regulatory security requirements for processing sensitive information through automated integrated interfaces.
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