CFF: Transfer of shares for open-end mutual funds in the Swiss market - Update
Note: This announcement, originally published on 10 November 2020, has been updated to provide further information on Transfer Agent external transfer settlement instructions in SIX SIS and via CBF. Changes have been highlighted.
Clearstream Banking1 would like to inform Vestima Order Issuers (OIs) on how to instruct transfers of shares free of payment in the Swiss market.
The below guidelines are applicable for funds held in the Central Facility for Funds (CFF) with the following Transfer Agents (TAs):
- Bank Julius Baer & Co. AG;
- Caceis Bank;
- LGT Bank AG;
- Liechtensteinische Landesbank AG;
- Vontobel Asset Management AG;
- Zürcher Kantonalbank.
All the associated ISINs linked to those TAs can be found in the Published Fund List (PFL) available under Supported Funds.
Column G (OHA name) indicates the TA linked to every ISIN.
The transfer instruction from the OIs should always follow the below, irrespective of who the TA or the counterparty is:
- Free of payment delivery/receipt against the account FMA01, which will be the same as if the direct TA’s Clearstream Banking S.A. (CBL) account is used, on field DEAG/REAG.
- The place of settlement (PSET) should be CEDELULLXXX.
- In addition, the settlement party details BUYR/SELL and SAFE will vary, depending on where the counterparty holds shares in the market (at the TA or in SIX SIS).
Transfer Agent in-house and external transfers
TA in-house transfer
If the customer’s counterparty holds an account with the TA (OHA), the following transfer details must be used:
Swiss TA | CBL account at the TA to provide to the counterparty | OI’s instruction |
BANK JULIUS BAER & CO. AG (ZÜRICH) | 03184169 | PSET// CEDELULLXXX DEAG/REAG// FMA01 BUYR/SELL// CPTY BIC SAFE// Account of the CTPY at the TA |
CACEIS BANK PARIS SUCCURSALE DE NYO | I0000036112 | |
LGT BANK AG (LI) | 0211990020 | |
LIECHTENSTEINISCHE LANDESBANK AG (LI) | 5473.0735.1024 | |
VONTOBEL ASSET MANAGEMENT AG (CH) | 1634393.001 | |
ZURCHER KANTONALBANK (ZÜRICH) | 12600001159577 |
TA external transfer – Settlement in SIX SIS
If the customer’s counterparty holds shares in SIX SIS, the following transfer details must be used:
Swiss TA | Settlement parties to provide to the counterpartya | OI’s instruction |
BANK JULIUS BAER & CO. AG (ZÜRICH) | DEAG/REAG//SCOM/CH103103 | PSET// CEDELULLXXX DEAG/REAG// FMA01 BUYR/SELL// SCOM/CHXXXXX |
CACEIS BANK PARIS SUCCURSALE DE NYO | DEAG/REAG//SCOM/CH118742 | |
LGT BANK AG (LI) | DEAG/REAG//SCOM/LI100026 | |
LIECHTENSTEINISCHE LANDESBANK AG (LI) | DEAG/REAG//SCOM/LI100000 | |
VONTOBEL ASSET MANAGEMENT AG (CH) | DEAG/REAG//SCOM/CH112489 | |
ZURCHER KANTONALBANK (ZÜRICH) | DEAG/REAG//SCOM/ CH102199 |
a. The counterparty should also provide the PSET// INSECHZZXXX.
Note: If the counterparty claims that their account is the same as the account of our TA in SIX SIS (SCOM/XXXXXXXX), it means that they also have a direct account with the TA. Therefore, the transfer should be instructed as per the above table (“TA in-house transfer”) and it is not necessary to instruct via the Swiss market.
TA external transfer – Settlement via CBF
If the customer’s counterparty holds shares and wants to settle in CBF, the following transfer details must be used:
Swiss TA | Account in SIX SIS to provide to the counterpartya | OI’s instruction |
BANK JULIUS BAER & CO. AG (ZÜRICH) | DEAG/REAG//INSECHZZTRA | PSET// CEDELULLXXX DEAG/REAG// FMA01 BUY/SELL//BIC11 of CBF participant SAFE// DAKV/**** (for example DAKV/1234) |
CACEIS BANK PARIS SUCCURSALE DE NYO | DEAG/REAG//INSECHZZTRA | |
LGT BANK AG (LI) | DEAG/REAG//INSECHZZTRA | |
LIECHTENSTEINISCHE LANDESBANK AG (LI) | DEAG/REAG//INSECHZZTRA | |
VONTOBEL ASSET MANAGEMENT AG (CH) | DEAG/REAG//INSECHZZTRA | |
ZURCHER KANTONALBANK (ZÜRICH) | DEAG/REAG//INSECHZZTRA |
a. The counterparty should also provide the PSET// DAKVDEFFXXX and DEAG/REAG//INSECHZZTRA (for CBF 7121).
Important Note: This article has been provided for information purposes only and has been formatted to fit the situations described. Customers should take note that, according to Article 33 of the General Terms and Conditions, “The Customer shall be liable for any error it has made in composing or transmitting an instruction to CBL”.
Further information
For more detailed information about CFF please refer to the CBL Customer Handbook.
For further information, please contact as appropriate:
Clearstream Banking | |
Email: | |
Telephone: | +352-243-32833 |
For more general information regarding Clearstream Banking products and services, customers may contact 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.