Entitlement Compensation Rules - Brazil

16.06.2011

Bonds

Market compensation basis:Traded position as of Record Date but only paid based on settled position
Automatic Compensation Managed by Local CSD:Yes
Restriction on custody events/transaction types:No restriction
Additional information:
If a trade settles after the Record Date but before the Payment Date, the local CSD automatically adjusts the entitlements.
If the trade settles on/after the Payment Date, the investor will need to initiate a claim.
Service offered by CBL:Adjustment is performed based on information received from the depository.

Equities

Market compensation basis:Traded position as of Record Date but only paid based on settled position
Automatic Compensation Managed by Local CSD:Yes
Restriction on custody events/transaction types:No restriction
Additional information:
If a trade settles after the Record Date but before the Payment Date, the local CSD automatically adjusts the entitlements.

If the trade settles on/after the Payment Date, the investor will need to initiate a claim.
Service offered by CBL:Adjustment is performed based on information received from the depository.