CFF: LLB funds (LI ISINS) migrate to CFF
Note: This announcement, originally published on 30 April 2020 and updated on 7 May 2020, has been further updated to add the migration date.
26 June 2020
All funds handled by Liechtensteinische Landesbank AG (LI) as Order Handling Agent, and listed in the attached spreadsheet, will use the Central Facility for Funds (CFF) service.
All customers of Clearstream Banking1 that hold positions in these investment fund shares will immediately benefit from the CFF process and services.
Funds available in Clearstream Banking handled by Liechtensteinische Landesbank AG (LI) (please refer to the attached spreadsheet)
Migration Day (MD):
26 June 2020
Fund Issuance Account (FIA):
Timeline for process adaptations
- Customers are recommended to instruct transfers by end-of-day MD-4 in order to ensure execution before the migration.
- Instructions that do not follow the CFF processes can be executed, at the latest, on the business day MD-1.
- Clearstream Banking will automatically transfer all positions in the overnight processing preceding MD-1. No action is required by Clearstream Banking account holders.
- Pending transfers that do not follow the CFF processes on MD will not be executed and must be cancelled by customers. If the transfers are not cancelled by the customers, Clearstream Banking reserves the right to cancel the instructions on the customer’s behalf.
- All trades with settlement date MD and later will use the CFF processes and settle against FIA 10785 in Clearstream Banking, as listed in the associated spreadsheet.
- Participants are advised to send all upcoming trades on or after MD via their Vestima participants in order to guarantee correct settlement in Clearstream.
- All corporate actions with Record Date MD and later will use the CFF process.
- The Bridge will be closed at 12:00 on 26 June 2020.
For further information, please contact as appropriate:
|Liechtensteinische Landesbank AG (LI)|
For more general information regarding Clearstream Banking products and services, customers may contact their Relationship Officer.
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.
2. Customers can use the Fund Market Account of CFF (“FMA01”) as Counterparty account in their settlement instructions.