Creation Link Guide - Romania
Key features
| Yes/No | Remarks | |
| Settlement free of payment | Yes | Restricted to portfolio transfers only. |
| Settlement against payment | Yes | Eligible settlement currency: Romanian Leu (RON). |
| Bridge settlement | Yes / No | Free of Payment restricted to portfolio transfers only. Municipal and selected foreign bonds are not Bridge eligible. |
| Shaping facility | No | |
| Partial settlement | No | Partial settlement is not applicable in the Romanian market. |
| Settlement penalty fees | Yes / No | CSD applies settlement penalty fee for late settlement (settlement instructions sent to CSD on SD):
|
| Pre-matching | Yes | Local pre-matching is market practice, customers are strongly recommended to use the immediate release flag in their settlement instructions. |
| Back-to-back processing | Yes | Back-to-back processing does not exist in SaFIR or in the CSD. However, CBL can support back-to-back processing; CBL's depository will process the instructions as linked transactions. |
| Allegements | Yes | |
| Automatic compensation | No | No automatic compensation by the local CSD. CBL will perform adjustment, based on information received from the depository. |
| Registered securities | Yes | NBR is the registrar for government securities. The nominee concept is recognised at the NBR. In Depozitarul Central S.A., the nominee concept is recognised. |
| Multi Market Securities | No | |
| Lending and borrowing | Yes / No | Not available for municipal and foreign bonds. |
| Proxy voting | No | |
| Investment Funds | No | |
| Liquidity Hub Connect | No | |
| Sale and purchase of rights | No | |
| Repo services | Yes | The Agent offers Repo services for outstanding T-bonds. |
| Market restrictions | No | |
| FTT | No | |
| FATCA GIIN | Yes | 0T0F5N.00009.ME.642 |
| Type of link | CSD or settlement method | |
| Direct link to the National Bank of Romania (NBR) operated by Bancpost, Bucharest | National Bank of Romania (NBR) for government bonds and bills via SaFIR (NBR settlement system) | |
| Indirect link via Bancpost S.A. to the CSD Depozitarul Central S.A. | Depozitarul Central S.A. (CSD) for municipal and selected foreign bonds via RoClear (CSD settlement system) |