CFCL General information – Lithuania
Reference
CFCL eligible fund types
CSD link
Eligible funds
Investment funds that are eligible in Lithuania CSD, Nasdaq CSD SE (Lithuanian branch) or T2S can be made eligible in CFCL.
Exchange Traded Funds (ETFs)
Exchange-Traded Funds (ETFs) are permitted and can be traded within the Lithuanian market.
Custody chain and depository
Lithuania is a T2S market.
The OneClearstream service level provides clients with a single point of access to all T2S markets with comprehensive instruments coverage. This is complemented by full harmonization of asset services and connectivity channels between CFCL, CBL, and CEU. This service is available to all our clients via a single interface and log-on.
The service description is valid for CFCL clients, unless otherwise highlighted in the documentation.
CFCL utilises the T2S infrastructure platform to access Lithuania’s CSD (Nasdaq CSD SE) through the intermediaries of CBL. CFCL uses CBL as a global custodian across all markets.
CSD (as CBL’s depository) | Custodian (as CBL’s depository) | CBL (as CFCL’s depository) | |
Name | Nasdaq CSD SE (Lithuanian branch) | Clearstream Europe AG | Clearstream Banking S.A. |
FATCA GIIN | Not available | N1V1GJ.00002.ME.276 | N1V1GJ.00000.LE.442 |
LEI | 485100001PLJJ09NZT59 | 5493004PP58SUE3G8M27 | 549300OL514RA0SXJJ44 |
Country of incorporation | Nasdaq CSD SE is incorporated in Lithuania and operates the Lithuanian Settlement System through the Lithuanian branch, which is governed by Lithuanian law. | Germany | Luxembourg |
Account type | Omnibus | Omnibus | Segregated |
Legal Account name/holder | Clearstream Banking S.A. | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. |
Depository
Depository | CSD/Local custodian/Agent |
CBL | All T2S eligible assets CLEARSTREAM EUROPE AG |
Operational arrangements
This section describes the operational arrangements of the Lithuanian market:
For CFCL clients | Remarks | |
Settlement in T2S | Yes | |
Settlement free of payment | Yes | |
Settlement against payment | Yes (EUR only) | Eligible settlement currencies (between CEU, CBL and CFCL counterparties only): AUD, CAD, CHFa, CNY, CZK, DKK, EUR, GBP, HKD, HUF, JPY, MXN, NOK, NZD, PLN, SEK, SGD, TRY, USD, and ZAR. |
Settlement against payment in central bank money | Yes. Against payment takes place on the DCA of CBL | CeBM in EUR only |
Short selling of entitlement | No | Short selling of income or corporate actions proceeds is not authorised for settlement in CFCL. Please refer to CFCL Client Handbook. |
Settlement penalty fees | Yes | If settlement date (SD) is delayed, a service fee is applied at Nasdaq Baltic exchange. The service fee for the postponement of the SD due to the default of the transaction consists of a fixed proceeding fee (EUR 70) and an added percentage (0.1%) of the transaction value for each trading (business) day with a maximum up to EUR 500. The proceeding fee is a one-off fee, but the added percentage is applicable for each trading day by which the actual SD of the transaction differs from the initial SD (= Value Date) of the transaction. Any related service fees applied on any client late transactions will be debited to the impacted client as out of pocket fees. |
Partial settlement | Yes | |
Recycling | Yes | |
Settlement with Euroclear | Yes | |
Hold and Release | Yes | |
Allegements | Yes | |
Transaction Linking | Yes | |
Bilateral Cancellation | Yes | |
Registered securities | Yes | |
Transaction Management | Yes | |
Proxy voting | Yes | |
Liquidity Hub Connect | No | |
Sale and purchase of rights | Yes | |
Repo services | No | |
Market restrictions | Yes | |
FTT | No | |
Daily reconciliation | Yes | |
Link eligible for use in Eurosystem credit operations | Yes | |
Moment of entry of instructions | Validation performed on the T2S platform, according to the T2S rules. | |
Irrevocability of instructions | Transfer orders become irrevocable upon matching. | |
Finality of instructions | Settlement in T2S is simultaneous, final, and irrevocable. | |
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 CBL General information – Lithuania for the complete information about Legal arrangements.
Cash correspondent details
Currency: | Euro (EUR) via T2 RTGS | Euro (EUR) via CCB |
CCB name: | Banque centrale du Luxembourg | Deutsche Bank AG, Frankfurt |
CBL account: | See T2 RTGS payment instructions | DE44 5007 0010 0938 2250 00 |
Swift address: | TRGTXEPMRTG | DEUTDEFFXXX |