Use of Central Securities Depositories Clause Samples
The 'Use of Central Securities Depositories' clause establishes that securities transactions will be settled and held through central securities depositories (CSDs). In practice, this means that parties agree to use recognized CSDs for the safekeeping, transfer, and settlement of securities, which may include entities like Euroclear or DTC. This clause ensures efficient, standardized, and secure handling of securities, reducing operational risk and streamlining settlement processes for all parties involved.
Use of Central Securities Depositories. The Custodian and its Subcustodians will use CSDs in connection with the performance of the Services, and will notify the Client of the CSDs so employed from time to time through the Client Publications.
Use of Central Securities Depositories. State Street and its Subcustodians will use CSDs in connection with the performance of the Custody Services, and will notify the Client of the CSDs so employed from time to time through the Client Publications.