Asset servicing - Switzerland

10.09.2019

Income collection

Debt securities

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

According to Swiss market practice, holdings that are entitled to participate in an entitlement are stored as of start of day processing on ex-date. 

Interest on Swiss bonds are calculated based on the positions on the record date as defined above 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

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

According to Swiss market practice, holdings that are entitled to participate in an entitlement are stored as of start of day processing on ex-date. 

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.

Income payments in foreign currencies may, in exceptional circumstances, be subject to delays and will be paid upon receipt only.

Corporate actions

Service offeredRemarks
Notification to customers
Clearstream Banking advises customers of their entitlement to participate in Swiss corporate actions (including, but not limited to, rights issues, stock split and tender offer).No specific deviations from standard reporting provided by CBL apply to the Swiss market.
Instruction to CBL
Customers may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. These options include, but are not limited to, put options, conversions, exercises of warrants, exchanges, detachment of warrants etc.In addition, CBL informs customers, on an “as and if received” basis, of unscheduled securities events occurring on account holdings, such as rights offer, reinvestment options, exchange offers, purchase offers, mergers etc.

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 - Switzerland.

Transaction Management and Entitlement Compensation Rules

Please refer to the Transaction Management and Entitlement Compensation Rules - Switzerland.