Asset servicing - Poland
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
Debt securities
| 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. |
Equities, covered, corporate and municipal bonds
| 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 with CSD on the record date at close of day and paid to the client's account upon successful receipt from the local agent 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
| Service offered | Remarks |
| Notification to clients | |
Standard reporting. | No specific deviations from standard reporting provided by Clearstream apply to the Polish market. |
| 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, Clearstream informs clients, 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. |
Based on local market practice, issuers may require the completion of specific forms in order to participate in corporate actions. Upon receipt of the documents, Clearstream will pass the information requirements on to clients accordingly.
Note: Clearstream and its depository obtain these documents as soon as possible on a "best efforts" basis but availability is dependent on the issuers and, consequently, forms may have to be provided at short notice.
Voluntary events
In view of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61 (together called MiFID II) and in accordance with the requirements of the local market, individual persons are no longer eligible to participate via Clearstream in corporate actions that involve selling or buying securities on the Polish market, for example, tender offers.
Institutional investors can continue their participation, but they will have to provide their Legal Entity Identifier (LEI) in their corporate action instructions.
Proxy Voting procedures
Proxy Voting Services are available in Clearstream for Polish securities.
Transaction Management Rules
Please refer to Transaction Management Rules - Poland.
