My question is best illustrated via an example:
- My custodian (a.k.a my "bank") is located in Switzerland
- I buy a share on the London Stock Exchange
- The trade is cleared through LCH.Clearnet
- The trade is finally settled
Which central securities depository (CSD) is used for settling and now holds my share? The UK CSD (CREST) or the Swiss CSD (SIX SIS)?
