Market Link Guide - Indonesia
CSD link as defined under CSDR a
Type of link
Indirect via Citibank N.A., Jakarta to:
a. CSD Regulation (EU) No 909/2014 art. 2 (29)
KSEI: equities and non-government fixed income
Bank Indonesia: operator of system for government fixed income
Citibank N.A., Jakarta Branch
KSEI: Not available
Bank Indonesia: OUB893BYM4R6CVFWWL56
Country of incorporation
KSEI: Segregated account
Bank Indonesia: Omnibus account
Segregated (government fixed income)
Legal Account name / holder
KSEI: Securities are registered in the name of Clearstream Banking SA.
Bank Indonesia: Recorded under omnibus account of Citibank N.A. Jakarta at Bank Indonesia (Central Depository) and further under that, allocated under the name of the beneficial owner in the books of the Bank Indonesia platform.
Omnibus (equities): Clearstream Banking SA
Segregated (government fixed income): Securities are registered in the name of the account holder in the books of Citibank N.A. Jakarta.
|Settlement free of payment||Yes||Government bonds: settlement against payment only, except in certain circumstances detailed in this document.|
|Settlement against payment||Yes||Eligible settlement currency: Indonesian Rupiah (IDR).|
Government bonds: settlement against payment only, except in certain circumstances detailed in this document.
|Settlement against payment in central bank money account of CBL/CBL customer||No|
CBL holds a cash account at the custodian. Against payment settlement takes place on the cash account of Citibank NA, Jakarta at Bank Indonesia.
|Settlement penalty fees||Yes||Refer to Market Profile.|
|Automatic compensation||No||Refer to Entitlement Compensation Rules.|
|Multi Market Securities||No|
|Lending and borrowing||No|
|Liquidity Hub Connect||No|
|Sale and purchase of rights||No|
|Repo services||Yes||CBL Internal.|
|Market restrictions||Yes||Refer to Investment Regulation.|
Settlement finality in KSEI and Bank Indonesia is real-time upon settlement.
The below section is based on the legal opinion obtained by CBL that was issued on 25 March 2019. 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
Liability for negligence
Book-entry regime with in rem rights
Recognition of nominee concept
Local laws and regulations do not recognise the nominee concept. CBL is recognised as the legal and beneficial owner of the securities held in the accounts.
No right of retention to the custodian
Segregation of assets at the custodian
No right of use
No upper-tier attachments
Local law does not prohibit upper tier attachment.
Insolvency of the custodian with no impact on CBL's rights
Shortfall pro-rated among holders
Local law does not provide for a shortfall regime.
Settlement finality in case of insolvency
Local law does not provide for a settlement finality regime.