T2S Link Guide - CBF - Spain

19.10.2017

Key features

Yes/NoRemarks

Settlement free of payment

Yes

Settlement against payment

Yes

Eligible settlement currency: Euro (EUR)

Partial settlement

Yes

Settlement penalty fees

No

Pre-matching

Yes

Hold and release

Yes

Linked instructions

Yes

 

Allegements

Yes

Automatic compensation

Yes

Registered securities

No

Market claims

Yes

Transformations

Yes

Lending and borrowing

Yes

Debt securities only

Proxy voting

Yes

Investment Funds

No

Sale and Purchase of rights

No

Repo services

No

Market restrictions

No

FTT

No

Type of linkCSD or settlement method
Direct linkIberclear

CBF-eligible security types

  • Government bonds (Bonos y Obligaciones del Estado);
  • Treasury bills (Letras del Tesoro);
  • Regional bonds;
  • Listed corporate bonds;
  • Strips;
  • Zero-coupon bonds.

Depository

IBERCLEAR
Pedro Teixeira, 8
28020 Madrid
Spain

Cash correspondent details

Currency:Euro (EUR) via TARGET2
CCB name:Bundesbank
CBF account:RTGS account of a direct TARGET2 participant

Cash settlement in EUR will take place in T2S on DCAs that are maintained by Bundesbank or any other National Central Bank participating in T2S. Funding of the DCA is done from the customer’s TARGET2 RTGS accounts.  In T2S, a DCA must be linked to one RTGS account in TARGET2 to which the remaining cash balances on the DCA is swept out at the End of Day (EoD). DCAs must have a zero balance at EoD. The link is only necessary for this purpose and various DCAs can be linked to one RTGS account.