New denomination currencies: Georgian Lari (GEL) and Jamaican Dollar (JMD)
Effective
19 November 2012
as part of its ongoing active support for the rapid development of emerging markets, Clearstream Banking1 will accept the Georgian Lari (GEL) and will be the first ICSD to accept the Jamaican Dollars (JMD) in its systems for denomination purposes.
The addition of these currencies broadens the scope of instruments that can be issued and held in Clearstream Banking, bringing the total number of currencies eligible in our systems to 98 (of which 42 are also eligible for full settlement purposes).
Denomination currencies
A denomination currency is one that can be used as a unit of account for securities balances but that cannot be used for settlement against payment or for cash-related operations.
Clearstream Banking accepts securities denominated in a denomination currency on condition that the terms of such securities:
- Provide that cash income and redemption settlement payments to beneficiaries can be made in a currency that is eligible as a full settlement currency in Clearstream Banking; and
- Include appropriate clauses clarifying that the denomination currency can be converted only into one that is eligible within Clearstream Banking.
Further information
For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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