CFCL General information

CFCL eligible fund types

Register market

Investment funds in New Zealand can be in the form of:

Investment Funds

Pursuant to the law of New Zealand, investment funds are principally structured as companies or trusts. The terms “Investment Fund” or “Investment scheme” are commonly used in New Zealand and cover the various types of funds such as mutual or managed funds, private equity funds and hedge funds.

Generic Portfolio Investment Entities (PIE)

CFCL only supports generic unlisted PIE funds. Foreign investment zero-rates and foreign investment variable-rate PIE funds are not eligible in CFCL.

CSD link

Please refer to the CBL Market Link Guide – New Zealand for more information about funds available via the CSD link.

Exchange Traded Funds (ETFs)

Listed ETFs have the same settlement process as listed equities.

Custody chain and depository

Type of link

Indirect

	CSD	Custodian	CBL (as CFCL’s depository)
Name	NZCSD	BNP Paribas Securities Services (Sydney Branch)	Clearstream Banking S.A.
FATCA GIIN	Not applicable	1G159I.00207.BR.036	N1V1GJ.00000.LE.442
LEI	254900IJQ6ZM0PD2 0H32	549300O1LQYCQ7G1IM57	549300OL514RA0SXJJ44
Country of incorporation	New Zealand	France	Luxembourg
Account type	Omnibus	Omnibus	Segregated
Legal Account name/holder	All NZCSD eligible securities are registered in the name of BNP Paribas Nominees Pty Ltd BNP Paribas Australia Branch as the participant in NZCSD, holds securities under the name BNP Paribas Nominees Pty Ltd with a dedicated account qualifier for CBL as follows: BNP Paribas Nominees NZ Limited Mnemonic: BPSS42	Clearstream Fund Centre S.A.	Clearstream Fund Centre S.A.

Depository

Depository

CSD/Local custodian/Agent

CBL

BNP Paribas Australia Branch
Level 4, 60 Castlereagh Street
Sydney NSW 2000
Australia

Depository Code: 2H

Operational arrangements

This section describes the operational arrangements of the New Zealand market:

	For CFCL clients	Register Market	Remarks
Settlement free of payment	Yes	Yes
Settlement against payment	Yes	Yes	Eligible settlement currencies: New Zealand Dollar (NZD)
Settlement against payment in central bank money	No	N/A	Against payment settlement takes place on the cash account of BNP Paribas Australia Branch. Only CSD-member banks can have an account at the local central bank.
Settlement penalty fees	No	N/A
Partial settlement	No	N/A	Except when the local CSD imposes the partial delivery of securities.
Recycling	No	N/A
Settlement with Euroclear	No	N/A
Allegements	No	N/A
Registered securities	Yes	N/A
Proxy voting	Yes	N/A
Liquidity Hub Connect	No	N/A
Sale and purchase of rights	No	N/A
Repo services	Yes	N/A
Market restrictions	Yes	N/A
FTT	No	N/A
Daily reconciliation	Yes	N/A
Moments of entry of instructions	The CSD rules do not define the moment of entry within the meaning of the Settlement Finality Directive.
Irrevocability of instructions	Matched instructions are irrevocable and require bilateral cancellation.
Finality of instructions	Settlement is considered final once cash and securities are exchanged and a confirmation is received from the CSD. It is not possible to unwind completed 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 CBL General information - New Zealand for the complete information about Legal arrangements.

Cash correspondent details

Currency:	New Zealand Dollar (NZD)
CCB name:	ANZ Bank New Zealand
CBL account:	923979NZD00001
Swift address:	ANZBNZ22

CFCL General information – New Zealand