CASCADE Link Guide - U.S.A.

13.01.2015

Key features

Yes/NoRemarks
Settlement free of paymentYes  
Settlement against paymentNo 
Bridge settlementNo 
Shaping facilityNo 
Partial settlementNo 
Settlement penalty feesYes 
Pre-matchingNo 
Back-to-back processingYes 
AllegementsYes 
Automatic compensationNo 
Registered securitiesYesAll securities are registered in the name of DTC's nominee (CEDE & Co).
Multi Market SecuritiesYesThe DTC/CDS link allows eligibility of certain Canadian securities.
Lending and borrowingNo 
Proxy votingNo 
Investment FundsNo 
Liquidity Hub ConnectNo 
Sale and purchase of rightsNo 
Repo servicesNo 
Market restrictionsNo 
FTTNo
FATCA GIINNoNo GIIN required as US entity.
Type of linkCSD or settlement method
Direct CSD LinkDTC

CBF-eligible security types

  • U.S. securities:
    • Selected debt instruments;
    • Selected equities and equity-linked securities; 
  • Selected German securities in collective safe custody.

Note: Eligible securities are securities that have been accepted bilaterally for cross-border transfer by both CBF and the relevant CSD. The eligibility of a given security, as well as the relevant CSD, can be checked by using the WSIS/CS function of CASCADE.

Depository

The Depository Trust Company (DTC)
55 Water Street
New York
NY 10041

Cash correspondent details

Currency:U.S. Dollar (USD)
CCB name:JPMORGAN CHASE BANK, NEW YORK
CBF account:001-1-573714
SWIFT address:CHASUS33

Passive matching service

The passive matching service is not available on this link.

Settlement times

The deadline by which CBF must receive valid free of payment delivery instructions for same-day settlement with domestic counterparties is 18:00 on SD.

Note: No receipt instruction is required for free of payment transactions in domestic securities in CASCADE.

Timely settlement in CASCADE is dependent on the timely receipt of the settlement confirmation from the local CSD.

Domestic counterparties should note that their deliveries to CASCADE for booking on SD should be instructed in DTC before 10:00 EST.

Important Note: As part of CBF’s internal compliance procedures, all incoming customer instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the Customer via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, Customers are advised to input instructions at least 15 minutes before the associated deadline.

Procedures for domestic counterparties

Procedure for the domestic counterpartyDeadline
Receipt in CBF
Domestic counterparties delivering securities free of payment in favour of a CBF customer must indicate the following information in their instruction to the DTC:Market deadline
Deliver to:account 2000
In favour of:beneficiary's 4-digit account number in CASCADE
Delivery from CBF
Domestic counterparties receiving securities free of payment from a CBF customer must indicate the following information in their settlement instruction to the DTC:Market deadline
Receive from:account 2000 (non-German securities)
account 6200 (German securities)
In favour of:beneficiary's account number at the DTC

Allowed countervalue difference

Allowed countervalue difference is not applicable as the link is for free of payment transactions only.