A CSD-registered company (Swedish: avstämningsbolag) is a limited company with a CSD clause in its articles of association. Its shares are then registered electronically with a central securities depository, in Sweden Euroclear Sweden, and no share certificates are issued. This is required for listed companies, among others.
In a CSD-registered company, the share ledger is kept by the depository as a CSD register. Most Swedish limited companies are instead non-CSD companies, where the board itself is responsible for the share ledger. NVR serves these companies.
A non-CSD company (kupongbolag) is a limited company not registered with a CSD, like most Swedish companies.
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A central securities depository (CSD) keeps the records of securities and owners in CSD-registered companies.
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A CSD register is the register kept by a central securities depository that serves as the share ledger.
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A securities account (VP account) is an account with Euroclear Sweden for shares in CSD-registered companies.
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