Asset servicing - Australia

10.09.2019

Income collection

Debt

Service offeredRemarks
Notification to customers
Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer. 

See Section 8 “Asset servicing” of the Customer 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 customer'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 Customer Handbook.

Equities

Dividends on equities are determined by the relevant companies according to domestic market practice and are updated by CBL in accordance with information received mainly from the depository.

Service offeredRemarks
Notification to customers
Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer. 

See Section 8 “Asset servicing” of the Customer Handbook.

See Connectivity manuals on the Clearstream website.

Payment of proceeds

Dividends proceeds are calculated based  on the Cum entitlement position recorded at the close of business on record date and paid to the customer'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 Customer Handbook.

Corporate actions

Standard reporting is used for notification to customers; instruction to CBL is performed via standard processes. Please refer to the CBL Customer Handbook for further details.

Customers may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. In addition, CBL informs customers on an “as and if received” basis of unscheduled securities events occurring on account holdings, such as bonus issues, reinvestment options, rights offers, exchange offers, purchase offers, mergers etc.

Some corporate actions may not be available to non-Australian investors.

Share purchase plans (that is, offers to top up existing holdings to a marketable parcel or to purchase small quantities of shares - up to a maximum of AUD 15,000 per beneficial owner - at  a slight discount to the current market price) and other similar events are subject to certification requirements that may vary from one event to the other. Customers that wish to participate will generally be required to provide underlying beneficial ownership details such as name, address, the number of shares currently held and the number of shares applied for. Customers will also generally need to certify that there are no participating beneficiaries in respect of whom the total of the application amount exceeds AUD 15,000, under the following circumstances:

  • The shares or interests applied for by the beneficial owner under the current share purchase plan, and;
  • Any other shares or interest in the class issued to the customer in the 12 months before the application as a result of an instruction given by each participating beneficiary to the customer to apply for shares or interest on their behalf, under an arrangement similar to the purchase plan.

Sale and purchase of rights

As an exception to the general Sale and Purchase of Rights information, the instruction deadline for next-day processing of sales and purchases in the Australian market is 14:00 CET.

Proxy voting services

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 Customer Handbook and, for the market specific practices, please refer to the Market Profile - Australia.

Entitlement compensation rules

Please refer to the Entitlement Compensation Rules - Australia.