Canopy Growth Corp (WEED)

[Wo]

Hi John1311. Curious, to your knowledge, what does this mean for holders of 11L1.F? Clearstream no longer being a secure holder on the Frankfurt exchange?

https://www.newcannabisventures.com/german-securities-clearance-firm-pulls-plug-on-north-american-cannabis-stocks/

4.3.1 Clearstream
In line with the possibilities laid down by the Safe Custody Act for custody of securities, the securities acquired by an investor are as a rule kept and administered, via a bank (intermediate custodian), at Clearstream Banking AG, Frankfurt12 (third-party custody). For dematerialised securities, Clearstream is entered as fiduciary in the collective debt register administered by the Federal (or La¨nder) Debt Administration, or else registration is effected in the individual debt register also administered by the Federal (or La¨nder) Debt Administration.

4.3.1.1 Types of assets and products cleared
All business transacted on stock exchanges, whether on the floor or via the electronic trading system of Deutsche Bo¨rse AG, Xetra, is automatically forwarded for processing (partly via interposition of Eurex Clearing AG as the CCP) to Clearstream via appropriate IT facilities. According to the stock exchange rules and regulations, all transactions have to be settled on the second stock exchange day following the day of trading (T+2).
OTC transactions can be settled FOP. Transactions against payment are only effected following a prior matching based on certain matching criteria. These transactions are entered by the parties concerned, and the system performs the settlement of the transactions. The settlement day can vary between T+0 and T+40. If the settlement day is T+0, same day processing and real-time settlement are possible (see below).
4.3.1.2 Institutional framework
Clearstream is Germany’s CSD. It received permission from BaFin to operate as bank in 1949. This banking licence was a restricted one, in line with Clearstream’s past functions as a specialised institution, which has been extended recently. Until end-1999, Clearstream – under its former name, Deutsche Bo¨rse Clearing AG, Frankfurt – was a wholly owned subsidiary of Deutsche Bo¨rse AG. On 1 January 2000, in the course of a capital increase, Deutsche Bo¨rse AG transferred its shares in Deutsche Bo¨rse Clearing AG to Clearstream International SA, Luxembourg. In return, Deutsche Bo¨rse AG received half of the shares in this newly established holding company. With regard to the ownership structure of Clearstream Banking International SA, Deutsche Bo¨rse successfully took over the remaining 50% stake held by Cedel International SA. Thus, Deutsche Bo¨rse AG has control of both a national (Clearstream Banking AG, Frankfurt) and an international CSD (Clearstream Banking S.A. Luxembourg).
4.3.1.3 Participation
Customers of Clearstream can be domestic or foreign credit and financial service institutions or specialised public institutions. In addition, foreign CSDs and clearing organisations or supranational financial organisations can open securities and cash accounts with Clearstream. A requirement for admission as a customer of Clearstream is, among other things, that the respective institution be subject both to the provisions governing statutory auditing of securities deposits under the Banking Act and the laws of the country of origin in question, or voluntarily allow its safe custody accounts to be audited. Almost all banks engaged in securities trading or in custody operations maintain accounts with Clearstream. Institutions without a direct link to Clearstream can make use of the services offered by Clearstream indirectly via Clearstream customers.

https://www.bis.org/cpmi/publ/d105_de.pdf