Cross border procedure
This page provides an overview of the cross‑border conversion process for moving securities between the home market and remote markets.
General information about initiating a conversion
Below you will find a table listing the eligible securities for conversion, including their ISIN numbers and relevant market details. Once a cross border conversion has been initiated, you will need to instruct a corresponding transaction in the home market to complete the cross-border process.
Instructions for initiating and completing the cross‑border procedure are provided below the table.
Ordinary shares, ETC and NDR program info and SSI
Updated 23 January 2026.
Please note that you need to scroll the table sideways to view all columns
Issuer | Home Market / Place of settlement | Type | ISIN Home Market | ISIN remote market | Agent identifier | Counterparty | Counterparty account | SDRT | :70D::REGI// *Example* |
|---|---|---|---|---|---|---|---|---|---|
Akobo Minerals AB | SE – VPCSSESSXXX | Share | SE0015193412 | SE0015193412 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Astrocast SA | CH - INSECHZZXXX | Share | CH1122548808 | CH1122548808 | CH100025 | CEDELULLXXX | 55426 | NO | INSECHZZXXX/XX123456/BANKBANKXXX/XX123456 |
P/F Atlantic Petroleum | DK – VPDKDKKKXXX | Share | FO000A0DN9X4 | FO000A0DN9X4 | CEDELULLXXX | CEDELULLXXX | 55426 | NO | VPDKDKKKXXX/BANKBANKXXX/BANKBANKXXX |
Avida Finans AB | SE – VPCSSESSXXX | Share | SE0025421282 | SE0025421282 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Benchmark Holdings Plc | GB – CRSTGB22XXX | Share | GB00BGHPT808 | GB00BGHPT808 | 56XKK | DNBANOKCXXX | 49118 | YES | CRSTGB22XXX/BANKBANKXXX/BANKBANKXXX/12345678 |
Borr Drilling Limited | US - DTCYUS33XXX | Share | BMG1466R1732 | BMG1466R1732 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
BW LPG | US - DTCYUS33XXX | Share | SGXZ69436764 | SGXZ69436764 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
Carasent AB | SE – VPCSSESSXXX | Share | SE0023261599 | SE0023261599 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
CMB.Tech | US - DTCYUS33XXX | Share | BE0003816338 | BE0003816338 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
Contextvision AB | SE – VPCSSESSXXX | Share | SE0014731154 | SE0014731154 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Envipco Holding N.V. | DE – DAKVDEFFXXX | Share | NL0015000GX8 | NL0015000GX8 | CEDELULLXXX | DNBANOKCXXX | 55426 | NO | DAKVDEFFXXX/BANKBANKXXX/BANKBANKXXX/123456789 |
| Place of safekeeping: NECINL2AXXX | |||||||||
EDR Certified Origin Physical Gold | EU – CEDELULLXXX | ETC | XS2497911219 | XS2497911219 | 55426 | 55426 | NO | CEDELULLXXX/123456/123456 | |
Flex LNG Ltd | US - DTCYUS33XXX | Share | BMG359472021 | BMG359472021 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
Hafnia Ltd | US - DTCYUS33XXX | Share | SGXZ53070850 | SGXZ53070850 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
Himalaya Shipping Ltd | US - DTCYUS33XXX | Share | BMG4660A1036 | BMG4660A1036 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
INIFY Laboratories AB | SE – VPCSSESSXXX | Share | SE0017486103 | SE0017486103 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Lea Bank AB | SE – VPCSSESSXXX | NDR | SE0023261300 | NO0013455378 | DNBASESXXXX | DNBANOKCXXX | 000153954302 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Logistea AB – A shares | SE – VPCSSESSXXX | NDR | SE0017131329 | NO0013291443 | DNBASESXXXX | DNBANOKCXXX | 000153954302 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Logistea AB – B shares | SE – VPCSSESSXXX | NDR | SE0017131337 | NO0013291450 | DNBASESXXXX | DNBANOKCXXX | 000153954302 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Morrow Bank AB | SE – VPCSSESSXXX | NDR | SE0026852725 | NO0013698175 | DNBASESXXXX | DNBANOKCXXX | 000153954302 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
Okeanis Eco Tankers Corp | US - DTCYUS33XXX | Share | MHY641771016 | MHY641771016 | 0908 | CEDELULLXXX | 089154 CSC55426 | NO | DTCYUS33XXX/1234/BANKBANKXXX/123456789 |
Pyrum Innovations AG | DE – DAKVDEFFXXX | Share | DE000A2G8ZX8 | DE000A2G8ZX8 | CEDELULLXXX | DNBANOKCXXX | 55426 | NO | DAKVDEFFXXX/BANKBANKXXX/BANKBANKXXX/123456789 |
Questerre Energy | CA - CDSLCATTXXX | Share | CA74836K1003 | CA74836K1003 | RBCT | CEDELULLXXX | 080000630001 | NO | CDSLCATTXXX/BANKBANKXXX/BANKBANKXXX/12345678 |
SBT Properties AB | SE – VPCSSESSXXX | Share | SE0016074884 | SE0016074884 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
SoftwareOne Holding AG | CH - INSECHZZXXX | Share | CH0496451508 | CH0496451508 | CH100025 | CEDELULLXXX | 55426 | NO | INSECHZZXXX/XX123456/BANKBANKXXX/XX123456 |
SpectrumOne AB | SE – VPCSSESSXXX | Share | SE0006994448 | SE0006994448 | ESSESESSXXX | CEDELULLXXX | 55426 | NO | VPCSSESSXXX/BANKBANKXXX/BANKBANKXXX/ |
| Viridien | DE – DAKVDEFFXXX | Share | FR001400PVN6 | FR001400PVN6 | CEDELULLXXX | DNBANOKCXXX | 55426 | NO | DAKVDEFFXXX/BANKBANKXXX/BANKBANKXXX/123456789 |
Place of safekeeping: SICVFRPPXXX | |||||||||
Zenith Energy Limited | CA - CDSLCATTXXX | Share | CA98936C8584 | CA98936C8584 | RBCT | CEDELULLXXX | 080000630001 | NO | CDSLCATTXXX/BANKBANKXXX/BANKBANKXXX/12345678 |
Source: Securities Services, DNB
How to initiate a conversion
To move securities between the home and remote market, participants must initiate the cross border via deliver/receive free settlement instruction in the settlement system (“VPO”) of the Norwegian CSD (BIC: VPSNNOKKXXX). If you are not a direct participant in the settlement system, you will need to instruct a settlement participant (i.e., your custodian or broker) to initiate the cross border on your behalf, as settlement via stock dump is no longer an option.
Once a cross border has been initiated, you will need to instruct a corresponding transaction in the home market to complete the cross-border process. The instruction is an ordinary deliver/receive free instruction on the home market ISIN, and must match the quantity, trade date, settlement date of the instruction (without the narrative/free text fields), facing the DNB SSI quoted on page 2. DNB will use your SSI quoted in the initiating instruction to match the instruction in the home market.
Please note:
- A flat cross border fee of NOK 1500 will be applied to each cross-border instruction, billed in arrears monthly to the settlement participant that initiated the cross border, quoting the initiator's transaction reference in the initiating allegement. Both settled and cancelled cross border instructions will be subject to the cross-border fee.
- Partial settlement is not allowed for cross border instructions.
- Unmatched and unsettled cross borders will be cancelled after five business days, and if shares have been delivered to DNB, DNB will return the shares to initiating party.
- The cut-time for processing cross borders for same day settlement is 14:10 CET. Instructions received after this time will not be matched and the
- initiating party will need to send a new instruction with intended settlement day on a future business day.
- Instructions with intended settlement date in the past will not be processed.
- Instructions with settlement date on record date or record date -1 for the applicable security will not be processed.
- Instructions resulting in a CSDR Penalty (i.e. Late Matching Fee or Late Settlement Fee) will be claimed by DNB via invoice along with the cross border fee.
Sample MT540 instruction via SWIFT/ISO15022
From home market to remote market
Information | Sequence | Instruction tag | Remarks |
|---|---|---|---|
Direction | Header Block 2 | Instruction message type (MT540 or MT 542) | |
Security | B | :35B:ISIN XXXXXXXXXXXX | |
Quantity | C | :36B::SETT//UNIT/XXXX, | |
Trade date | B | :98A::TRAD//YYYYMMDD | |
Settlement date | B | :98A::SETT//YYYYMMDD | Instructions quoting settlement date in the past will not be processed |
Agent | E1 | :95R::DEAG/VPSN/07004 OR :95R::REAG/VPSN/07004 | |
Counterparty | E1 | :95P::SELL//DNBANOKCXXX OR :95P::BUYR//DNBANOKCXXX | |
Counterparty account | E1 | For shares and ETC: :97A::SAFE//070040045190 | Please refer to the list of shares and NDR instruments in section 3 below |
Narrative | E1 | Format containing your SSI in the home market: :70D::REGI//Place of Settlement BIC/Local Agent BIC or DSS/Counterparty BIC Examples: :70D::REGI//DTCYUS33XXX/0902/CHASGB2LXXX /123456 :70D::REGI//DAKVDEFFXXX/CITIDEFFXXX/CITIGB2LXXX /123456789 | |
Narrative if home market of security is Euroclear UK (CRSTGB22XXX) | E1 | Format containing your SSI in the home market: :70D::REGI//Place of Settlement BIC/Local agent DSS/Beneficiary BIC /Account (only “/” if not applicable) Examples: SDRT eligible security, account number :70D::REGI//CRSTGB22XXX/BA01F/CITIGB2LXXX /123456 /STAMP/YES Not SDRT eligible security, account number :70D::REGI//CRSTGB22XXX/BA01F/CITIGB2LXXX /123456 /STAMP/NA Not SDRT eligible security, no account number :70D::REGI//CRSTGB22XXX/BA01F/CITIGB2LXXX / /STAMP/NA | SDRT confirmation, either “/STAMP/YES” or “/STAMP/NA” must be applied for the conversion to be initiated. /STAMP/YES: Participant confirms the security is eligible for stamp duty and will pay the stamp duty amount /STAMP/NA: Participant confirms the security is not eligible for stamp duty |
Source: Custody dept. DNB Carnegie