French registered securities: Important operational note for the LBS season - update
Clearstream Banking1 informs customers that the Loyalty Bonus Share season 2019 for French registered securities has started.
With the new service offering implemented in June 2019, Clearstream Banking would like to remind the importance of complying with Clearstream Banking recommendations when instructing the registration details in the corporate action instruction.
Failing to comply with this recommendation may lead in some instances to the rejection of instructions and as well as it will not allow Clearstream Banking to generate a valid Bordereau de Reference Nominative (BRN) in due time (maximum of 4 business days) on the market.
The “4 business days” period starts as soon as the settlement instruction to move the securities from customer’s bearer account to customer’s registered account has settled.
Clearstream Banking expects customers respond quickly to any enquiries to avoid delay in generating the BRN; a delay could cause customers to be ineligible for the LBS event.
The service description and the format to instruct registration details are available in the Market Link Guide - France, under Settlement services French registered securities and Asset servicing French registered securities.
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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
2. Applicable to CBL and CBF 6-series accounts only. On the Creation platform, customers must request the opening of a dedicated registered account. In CASCADE, these accounts are opened automatically for CBF customers.