Creation Link Guide - Italy

25.04.2017
Yes/NoRemarks
Settlement in T2SYes
Settlement free of paymentYes a 
Settlement against paymentYes aEligible settlement currency: Euro (EUR).
Bridge settlementYes 
Shaping facilityNo 
Partial settlementYes
Settlement penalty feesYes Currently suspended
Pre-matchingYesHold and release service
Back-to-back processingYes 
AllegementsYes 
Bilateral cancellationYes
Automatic compensationYes Market claims and transformations
Registered securitiesYes 
Transaction ManagementYes
Multi Market SecuritiesYes 
CBL lending and borrowing and triparty collateral servicesYes
Proxy votingYes 
Investment FundsNo 
Liquidity Hub ConnectYesTwo direct accounts at Monte Titoli operated by Citibank Milan and BPSS Milan for equities. Bonds operated by Intesa SanPaolo for both accounts.
Sale and purchase of rightsYes 
Market restrictionsNo 
FTTYesCBL assumes no role in the collection of FTT in Italy.
FATCA GIINYesMonte Titoli 4FK4AX.00008.ME.380
Intesa SanPaolo D9I1IN.00000.LE.380
MiscellaneousYesDomestic settlement with remote trader client counterparties.

a. Physical registered securities that cannot be centralised at the CSD are not eligible for settlement through the domestic link with Intesa Sanpaolo.

Type of linkCSD or settlement method
Direct link to Monte Titoli operated by Intesa Sanpaolo, Milan.Monte Titoli / T2S