CFCL General information – Japan
Reference
CFCL eligible fund types
CSD link
Investment funds that are eligible in the Japanese CSD can be made eligible in CFCL.
Please refer to the Market Link Guide – Japan – JGBs for more information about funds available via the CSD link.
Eligible funds
Real Estate Investment Trusts (REITS): Real Estate Investment Trusts are permitted and can be traded within the Japanese market.
Exchange Traded Funds (ETFs): Exchange-Traded Funds (ETFs) are permitted and can be traded within the Japanese market.
Custody chain and depository
Type of link | Indirect via Hongkong and Shanghai Banking Corporation Limited (Tokyo Branch) to Japan Securities Depository Center, Inc (JASDEC) |
CSD | Custodian | CBL (as CFCL’s depository) | |
Name | Japan Securities Depository Center, Inc (JASDEC) | Hongkong and Shanghai Banking Corporation Limited (HSBC), Tokyo branch | Clearstream Banking S.A. |
FATCA GIIN | HK44AT.99999.SL.392 | 4RI52Y.00000.BR.392 | N1V1GJ.00000.LE.442 |
LEI | 353800FS52Z4ZWJFA734 | 2HI3YI5320L3RW6NJ957 | 549300OL514RA0SXJJ44 |
Country of incorporation | Japan | Hong Kong via its branch in Tokyo | Luxembourg |
Account type | Dedicated omnibus account for CBL’s assets held at JASDEC, under HSBC’s direct participant status | Omnibus and segregated | Segregated |
Legal Account name/holder | For equities (ETFs): The Hongkong and Shanghai Banking Corporation Limited - 00411-81 | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. |
Depository
Depository | CSD/Local custodian/Agent |
CBL | THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, TOKYO Depository Code: 1U |
Operational arrangements
This section describes the operational arrangements of the Japanese market:
For CFCL clients | Remarks | |
Settlement free of payment | Yes | |
Settlement against payment | Yes | Eligible settlement currency: Japanese Yen (JPY). |
Settlement against payment in central bank money | No | CBL holds a cash account at the custodian. Against payment settlement in JPY takes place on the cash account of the custodian at the Bank of Japan. |
Settlement penalty fees | Yes | |
Shaping facility | No | |
Pre-matching | Yes | |
Back-to-back processing | Yes | |
Partial settlement | No | |
Recycling | Yes | |
Settlement with Euroclear | Yes | |
Allegements | Yes | |
Automatic compensation | No | |
Registered securities | No | |
Transaction Management | Yes | |
Proxy voting | Yes | No physical attendance for AGM/EGM. |
Liquidity Hub Connect | No | |
Sale and purchase of rights | No | |
Repo services | No | |
Market restrictions | No | |
FTT | No | |
Daily reconciliation | Yes | |
Link eligible for use in Eurosystem credit operations | Yes | |
Moment of entry of instructions | The rules of JASDEC do not define the moment of entry within the meaning of the Settlement Finality Directive. | |
Irrevocability of instructions | FOP settlements may be cancelled prior to the transfer at the request of either the deliverer or receiver. However, in DVP settlement, after matching and during the period until the transfer, the settlement may be cancelled prior to the transfer only by request from both the deliverer and the receiver. | |
Finality of instructions | Book-entry transfers become instantly final. In the case of transfer requests from the previous days where the book-entry transfers are performed in batches at night, the transfers become final at 8:00 p.m. (local time) on the business day preceding the date of settlement. | |
Legal arrangements
The below section is valid on the date of the legal opinions that were issued and might be subject to change.
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.
As CBL is our sub-custodian, please refer to the Market Link Guide – Japan for the complete information about Legal arrangements.
Cash correspondent details
Currency: | Japanese Yen (JPY) |
CCB name: | Mizuho Bank Ltd, Tokyo |
CBL account: | 4517010 |
Swift address: | MHCBJPJT |
Currency: | Japanese Yen (JPY) |
CCB name: | Hongkong and Shanghai Banking Corporation Limited (Tokyo Branch) |
CBL account: | 009-027939-026 |
Swift address: | HSBCJPJT |