Czech Republic: CSD exchange traded funds and open ended investment funds become eligible

01.02.2018

In line with our ongoing commitment to the enhancement of our services, Clearstream Banking1 informs customers that effective value date

5 February 2018

it will be possible to settle and safekeep Czech exchange traded funds (ETFs) and CSD eligible open ended investment funds.

Impact on customers

The deadlines for exchange traded funds and CSD eligible open ended investment funds are as follows:

Instruction

Provisioning

Deadline for receipt of valid instruction

Expected settlement results

start

end

from

to

value

AP=Against payment FOP=Free of payment SD=Settlement date

ETFs /CSD eligible open ended funds

Receipts

FOP

15:20
SD-1

15:15
SD

15:15
SD

08:00
SD

18:30
SD

AP

11:30
SD-1

11:25
SD

11:25
SD

08:00
SD

14:00
SD

SD

Deliveries

FOP

15:20
SD-1

15:15
SD

15:15
SD

08:00
SD

18:30
SD

AP

11:30
SD-1

11:25
SD

11:25
SD

08:00
SD

14:00
SD

SD

The deadlines shown above are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.

These Czech Republic CSD eligible ETFs and open ended investment funds will be made available for order routing in Vestima progressively over time. For information on availability, customers can refer to the supported funds list that is updated monthly or subscribe to the daily published funds list.

The withholding tax procedure applicable to ETFs/CSD eligible open-ended funds is the same as the procedure for equities published in the Market Taxation Guide – Czech Republic.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.