Asset servicing - Czech Republic
Reference
Please refer to the CBL Client Handbook or CEU OneClearstream Client Handbook, as applicable, for information about processing, reporting and connectivity for asset servicing.
Income collection
Dividend Payments
It is important to note that there is no standard market rule governing dividend payment dates. The dividend payment date is determined individually by the issuer and may vary from one distribution to another. The timing of the payment is typically based on the resolution approved at the Annual General Meeting (AGM) of shareholders
Interest Income Payments
It is important to note that there is no centralised source providing information on interest payment dates. For corporate bonds, the interest payment date is determined by the issuer and may occur up to 30 days after the record date, depending on the terms and conditions of the issue.
| Service offered | Remarks |
| Notification to clients | |
Standard Asset Servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section “Asset servicing” of the relevant Client 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 client'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 “Financing: availability of funds” of the relevant Client Handbook. |
Corporate actions
It is important to note that corporate action information is not disseminated through a centralised source in the Czech market. Entitlements are determined on the basis of settled positions held at the end of the record date, and no further registration is required.
| Service offered | Remarks |
| Notification to clients | No specific deviations from standard reporting provided by Clearstream apply to the Czech market. |
Clearstream and its depository will endeavour to collect dividend payments from the issuer or the issuer's paying agent (as soon as the issuer or the issuer's paying agent makes the dividends available) and credit the Clearstream client's account on the next business day. | |
| Instruction to Clearstream | |
| Clients may instruct Clearstream to carry out options foreseen in the terms and conditions of the underlying type of security. In addition, on an “as and if received” basis, Clearstream informs clients of unscheduled securities events occurring on account holdings, such as rights offers, reinvestment options, exchange offers, purchase offers, mergers etc. |
Proxy Voting procedures
Proxy voting services are available in Clearstream for this market. For details about the proxy voting services offered by Clearstream, please refer to the CBL Client Handbook or CEU OneClearstream Client Handbook and, for the market specific practices, please refer to the Market Profile - Czech Republic.
E-voting or remote voting are not implemented in the market.
There are no uniform rules for voting procedures, the procedures and conditions are determined by the issuer.
Transaction Management Rules
Please refer to Transaction Management Rules - Czech Republic.
