Eligible jurisdictions

LuxCSD qualifying securities may require a validity and legal enforceability opinion where both the governing law of the security and the country of incorporation of the issuer is not Luxembourg. 

Please refer to the dedicated web pages for the individual jurisdictions in this section for further details with regard to LuxCSD’s authorisations under Article 23 CSDR as amended.

Legal opinion

For financial instruments issued for the first time with LuxCSD under the law of another jurisdiction than Luxembourg, the issuer, its counsel, the lead manager or the issuer agent shall provide LuxCSD with a copy of the legal opinion(s) confirming the capacity of the issuer and/or the validity and enforceability of the financial instruments to be issued under:

  • The law of such jurisdiction where the issuer is incorporated; and
  • The governing law of such jurisdiction under which the financial instruments are constituted.

LuxCSD reserves the right to request, when deemed necessary, an ad hoc legal opinion under the law constituting the financial instruments confirming:

  • The validity of the choice of LuxCSD as issuer CSD for the contemplated issuance; and/or
  • The validity of the issuance through LuxCSD and its enforceability.

The opinion should be sent or emailed to the New Issues Department at least two business days before the issue date, email: newissues@luxcsd.com.