Creation Link Guide - New Zealand

13.12.2016

Key features

Yes/NoRemarks
Settlement free of paymentYes  
Settlement against paymentYes Eligible settlement currency: New Zealand Dollar (NZD).
Bridge settlementYes For debt securities only
Shaping facilityNo 
Partial settlementNoExcept when the local CSD imposes the partial delivery of securities.
Settlement penalty feesNo 
Pre-matchingYes Subject to counterparty availability.
Back-to-back processingYes  
AllegementsNo 
Automatic compensationNo 
Registered securitiesYes 
  • For dematerialised securities, registration takes place automatically upon settlement.
  • For physical securities, manual intervention will be required and not automatically.
Multi Market SecuritiesYes Refer to the Multi-securities Guide.
Lending and borrowingYes Debt Securities.
Proxy votingYes  
Investment FundsYes ETF only.
Liquidity Hub ConnectNo 
Sale and purchase of rightsYes  
Repo servicesYes Internal Repo service for Bonds and Equities (refer to Cmax Product Guide)
Market restrictionsYes CBL's Holding restrictions beneficial owners who are New Zealand residents for tax purposes.
FTTNo 
FATCA GIINYes E86.00464.ME.554
MiscellaneousYes CBL's Holding restrictions beneficial owners who are New Zealand residents for tax purposes.
Type of linkCSD or settlement methodComments
Indirect link through JPMC NZ aNZCSD/NZClear bNZCSD/NZClear positions held in CBL are registered in the name of the New Zealand Central Securities Depository Limited.

a. JPMorgan Chase Bank, N.A. (Sydney Branch), operated by JPMorgan Chase Bank, N.A. (New Zealand Branch) is hereinafter referred to as JPMC NZ.
b. The NZClear system is operated by the Reserve Bank of New Zealand’s New Zealand Central Securities Depository.