Russia: Update to the handling of ADR GDR Programmes of Russian underlying equities
Following Announcement A24028, Clearstream Banking1 informs clients that on 3 October 2024, information was received about settlement disruption in Russia impacting ADR/GDR conversions.
While it has been confirmed that all pending transactions for the BNY Mellon and Citi programmes will be cancelled and reversed and that no further settlement will take place, Clearstream is yet to receive the status of the pending transactions from DR Agents Deutsche Bank and JP Morgan.
As a reminder, any transactions that have not settled are expected to be cancelled, and if possible, DRs will be returned by the agent.
Clearstream Banking is closely monitoring the situation and will provide further updates when received.
Clearstream Banking shall bear no responsibility and will not be held liable in case of any consequences, losses, or damages, which may be suffered by holders due tothe rejection/reversal of the transactions.
Further information
For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.
------------------------------------------
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.