Asset servicing - Bulgaria

10.09.2019

Income collection

Government bonds and T-bills

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal 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.

For government securities denominated in a currency other than BGN, payment is made either in BGN or in the denomination currency.

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, investment funds and corporate, mortgage and municipal bonds

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal 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. 

No fixed dividend payment date is announced in advance. The Bulgarian law provides for dividends to be paid no later than three months after the general meeting and most companies pay the dividends one month after the AGM. 

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

Service offeredRemarks
Notification to customers

Standard reporting.

No specific deviations from standard reporting provided by CBL apply to the Bulgarian market.

Instruction to CBL

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 rights offers, reinvestment options, exchange offers, purchase offers, mergers etc.

Sale and purchase of rights

Please refer to the document Sale and Purchase of Rights.

Proceeds from sale of rights will be available in the Bulgarian market only once the capital increase has been confirmed by the local court (approximately one month after the end of the period for rights exercise). CBL will credit customers with the proceeds from the sale upon receipt of funds.

Proxy Voting procedures

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 - Bulgaria.

Entitlement compensation rules

Please refer to the Entitlement Compensation Rules - Bulgaria.