English translation: VPC-registered/-affiliated company; outsourcing client company
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Swedish term or phrase:
VPC-registered/-affiliated company; outsourcing client company
Explanation: To make sense of this, I think you need a long complicated English paraphrase, something like "a company affiliated to Sweden's VPC (which provides a central securities depository and clearinghouse for the capital markets)." A bit of a mouthful, but required if readers have no concept of what VPC is. I have used VPC's own terminology (see ref).