Asset servicing – New Zealand
Income collection
Debt securities
| Service offered | Remarks |
| Notification to clients | |
Standard Asset Servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Client Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the client's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Client Handbook. |
Equities
| Service offered | Remarks |
| Notification to clients | |
Standard Asset Servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Client Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Dividend proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the client's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Client Handbook. |
Corporate actions
| Service offered | Remarks |
| Notification to clients | |
Standard reporting. CBL notifies clients of voluntary and mandatory unscheduled events on an “as and if received” basis. | No specific deviations from standard provided by CBL apply to the New Zealand market. |
| Instruction to CBL | |
Clients may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security, as well as those arising from unscheduled events. | Clients are requested to instruct within the deadlines and/or procedures specific to each type of event. In the absence of instructions from its client, CBL will apply a “default option” that may differ for each type of event. |
Proxy voting procedures
Proxy voting services are available in CBL for this market. For details about the proxy voting services offered by CBL, please refer to the CBL Client Handbook and, for the market specific practices, please refer to the Market Profile - New Zealand.
Entitlement compensation rules
Please refer to the Entitlement Compensation Rules - New Zealand.