Market Link Guide - Mexico
Key features
CSD link as defined under CSDRa | Yes |
Type of link | Indirect |
a. CSD Regulation (EU) No 909/2014, Article 2(29).
CSD | Custodian | |
Name | S.D. Indeval, Institución para el Depósito de Valores | Banco Nacional de México S.A. Integrante del Grupo Financiero Banamex (referred to as “Citibanamex”) |
FATCA GIIN | J6BGQZ.00001.ME.484 | NXUTG8.00265.ME.484 |
LEI | 529900LXYUUH8THE2P87 | 2SFFM4FUIE05S37WFU55 |
Country of incorporation | Mexico | Mexico |
Account type | Omnibus account | Omnibus account |
Legal Account name/ holder | Citibanamex on behalf of Third Parties – (Foreign) | Clearstream Banking S.A. |
Operational arrangements
| Yes/No | Remarks | |
| Settlement free of payment | Yes | |
| Settlement against payment | Yes | |
| Settlement against payment in central bank money account of CBL/CBL customers | No | CBL holds a cash account at the custodian. Against payment settlement takes place on Citibanamex cash account at the local central bank. |
| Bridge settlement | Yes | |
| Shaping facility | No | |
| Partial settlement | No | |
| Settlement penalty fees | No | |
| Pre-matching | Yes | |
| Back-to-back processing | No | |
| Allegements | No | |
| Automatic compensation | No | |
| Registered securities | Yes | |
| Multi Market Securities | Yes | |
| Lending and borrowing | Yes | For debt securities only. |
| Proxy voting | Yes | |
| Investment Funds | No | |
| Liquidity Hub Connect | No | |
| Sale and purchase of rights | No | |
| Repo services | No | |
| Market restrictions | No | |
| FTT | No | |
| Daily reconciliation | Yes |
| Moment of entry of instructions | Moment of entry is determined when the transaction has been uploaded into Indeval’s system. |
| Irrevocability of instructions | Moment of irrevocability starts when the transaction has been matched in the system and both parties agree to settle the transaction in a future date. |
| Finality of instructions | Moment of finality is described when the transaction has been settled in the date agreed by both parties involved in the transaction. |
Legal arrangements
The below section is based on the legal opinion obtained by CBL that was issued on 9 November 2021. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.
No insolvency proceedings against the Custodian or the CSD | Confirmed |
Liability for negligence | Confirmed |
Book-entry regime with in rem rights | Confirmed |
Recognition of nominee concept | Confirmed |
No right of retention to the Custodian/CSD | Confirmed |
Segregation of assets at the CSD | Confirmed |
No right of use | Confirmed |
No upper-tier attachments | Confirmed |
Insolvency of custodian with no impact on CBL's rights | Confirmed |
Shortfall pro-rated among holders | Confirmed |
| Record keeping period of at least 10 years | Confirmed |
Settlement finality in case of insolvency | Confirmed |