Creation Link Guide - Mexico

11.05.2018

Key features

CSD link as defined under CSDRa

Yes

Type of link

Indirect

a. CSD Regulation (EU) No 909/2014 art. 2 (29)

 

CSD

Custodian

Name

S.D. Indeval, Institución para el Depósito de Valores

Banco Nacional de México S.A. Integrante del Grupo Financiero Banamex (referred to as “Citibanamex”)

FATCA GIIN

J6BGQZ.00001.ME.484

NXUTG8.00265.ME.484

LEI

529900LXYUUH8THE2P87

2SFFM4FUIE05S37WFU55

Country of incorporation

Mexico

Mexico

Account type

Omnibus account

Omnibus account

Legal Account name/ holder

Citibanamex on behalf of Third Parties – (Foreign)
Citibanamex as the participant in Indeval does not hold an individually segregated account for CBL

Clearstream Banking SA

Operational arrangements

Yes/NoRemarks
Settlement free of paymentYes 
Settlement against paymentYes 
Settlement against payment in central bank money account of CBL/CBL customersNoCBL holds a cash account at the custodian. Against payment settlement takes place on Citibanamex cash account at the local central bank.
Bridge settlementYes
Shaping facilityNo 
Partial settlementNo 
Settlement penalty feesNo 
Pre-matchingYes 
Back-to-back processingNo 
AllegementsNo 
Automatic compensationNo 
Registered securitiesYes 
Multi Market SecuritiesYes 
Lending and borrowingYesFor debt securities only.
Proxy votingYes 
Investment FundsNo 
Liquidity Hub ConnectNo 
Sale and purchase of rightsNo 
Repo servicesNo 
Market restrictionsNo 
FTTNo 
Daily reconciliationYes
Bilateral cancellationNo

Settlement finality

Settlements made through recognised payment systems including DALI (CSD settlement system), SPEI and SIAC (Central Bank payment systems) are final and irrevocable according to Mexican law.

Legal arrangements

The below section is based on the legal opinion obtained by CBL that was issued on 30 November 2016. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.

No insolvency proceedings against the Custodian or the CSD

Confirmed

Liability for negligence

Confirmed

Book-entry regime with in rem rights

Confirmed

Recognition of nominee concept

Confirmed

No right of retention to the Custodian/CSD

Confirmed

Segregation of assets at the CSD

Confirmed

No right of use

Confirmed

No upper-tier attachments

Confirmed

Insolvency of custodian with no impact on CBL's rights 

Confirmed

Shortfall pro-rated among holders

Confirmed

Settlement finality in case of insolvency

Confirmed