CASCADE-RS enhanced service: Fourth allocation run for instructions in CASCADE-RS

13.12.2013

In addition to the three allocation runs existing in CASCADE-RS, a fourth optional allocation processing has been set up for CASCADE-RS instructions (re-registrations and entries).

This allocation processing is released individually upon instruction from the respective issuer. The processing run starts at approx. 21:00.

Use of the fourth allocation

The fourth allocation can be used based on the specification of the issuer indefinitely or for a temporary period.

The issuers or register companies must instruct Clearstream Banking1 if they wish their security to be included.

Note about temporary use

If the fourth allocation is limited in time, for example, in advance of an annual general meeting, the relevant information is contained in the corresponding announcement for the respective company "XY AG: Information about the annual general meeting".

Publication in the case of indefinite use

If the fourth allocation run for an issuer is released for an indefinite period, this is made known in a separate announcement, which lists this issuer.

Overview of allocation runs

The following allocation processing exists in CASCADE-RS (cf. KVAV IS):

  1. Allocation at approx. 10:30
  2. Allocation at approx. 13:30
  3. Allocation at approx. 17:00
  4. Allocation at approx. 21:00 (only after instruction of issuer)

The transfer to the share register is at approx. 18:30 for the first three allocation runs. The instructions from the fourth allocation are sent at approx. 22:30 together with instructions from automatic re-registration to interim holdings (AU)/automatic re-registration to nominee (ALU), among others.

Notes and special features

The transfer time for instructions, which are to be considered in the fourth allocation, is consequently extended for banks as follows:

  • Until 18:20 Data upload via the investor portal
  • Until 18:45 SWIFT, File Transfer
  • Until 19:00 online via CASCADE-RS in status "K"

Note:

  • All re-registration instructions which were issued and validated after 17:00 by the times cited above are processed in the late allocation. This also applies to those instructions that were carried forward from the previous allocation runs, for example, due to lack of holdings. Re-registration instructions, which were issued and validated but not allocated on the same day and are to be transferred to the share register, must specify the exact date on which the execution is desired in the "Re-registration date" field (at least one calendar day later). The late allocation operates on the basis of the calendar date, not the value date.
  • If the share holdings from the re-registration are to be available for RTS processing on the morning of the following day, the corresponding position transfer must be issued immediately after the re-registration instruction. Both orders can be contained in one instruction with a TWIN instruction via the investor portal. For all other transfer types, please note that it is mandatory that the sequence of order placement

    1. Re-registration instruction
    2. Position transfer

    is maintained.
  • Irrespective of the type of order placement, the position transfer must be assigned a value date, which ensures that positions registered for the annual meeting are not removed from the share register before expiration of the last re-registration day/technical record date.

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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthaleralle 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.