Euroclear Nederland, the central securities depository (CSD) of the Netherlands, has launched a new corporate-actions service that will enable clients to better manage the assets held in custody for them by the CSD. The new service will specifically improve the way in which clients can manage voluntary corporate actions. Effective immediately, Euroclear Nederland’s clients will be able to indicate their choice of a cash or stock-dividend distribution for all dividend declarations with such a voluntary stock option attached to it. Euroclear Nederland will announce the details of the optional conversion before the security trades ex-dividend, including the deadline for the client to communicate its choice and all relevant settlement information. Clients will receive real-time confirmation of their cash or security positions, depending on their choice, immediately upon settlement. The new service will cover all Dutch and certain foreign securities that are eligible in Euroclear Nederland.
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