CFCL General information – Portugal
Reference
CFCL eligible fund types
CSD link
Please refer to the CBL Market Link Guide – Portugal for more information about funds available via the CSD link.
Eligible funds
Investment funds that are eligible in Portugal CSD, Interbolsa or T2S can be made eligible in CFCL.
Custody chain and depository
Portugal 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 Portugal’s CSD (Interbolsa) through the intermediaries of CBL. CFCL uses CBL as a global custodian across all markets.
Type of link |
|
CSD (as CEU’s and CBL’s depository) | Custodian (as CBL’s depository) | CBL (as CFCL’s depository) | Asset Service Provider for CEU and CBL | |
Name | Interbolsa | Clearstream Europe AG | Clearstream Banking S.A. | BNP Paribas S.A. |
FATCA GIIN | Not available | N1V1GJ.00002.ME.276 | N1V1GJ.00000.LE.442 | 1G159I.00269.BR.528 |
LEI | 529900LG70TCAGWCXT47 | 5493004PP58SUE3G8M27 | 549300OL514RA0SXJJ44 | R0MUWSFPU8MPRO8K5P83 |
Country of incorporation | Portugal | Germany | Luxembourg | France |
Account type | Omnibus | Omnibus | Segregated | Omnibus |
Legal Account name/holder | Clearstream Banking S.A. | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. |
Depository
Depository | CSD/Local custodian/Agent |
CBL | All T2S eligible assets Asset Servicing local agent: Custodian: BNP PARIBAS S.A. |
Operational arrangements
This section describes the operational arrangements of the Portugal market:
For CFCL clients | Remarks | |
Settlement in T2S | Yes | |
Settlement free of payment | Yes | |
Settlement against payment | Yes | 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 | CeBM in EUR only. |
Short selling of entitlement | No | |
Settlement penalty fees | Yes | |
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 | |
Multi Market Securities | No | |
Lending and borrowing | No | |
Liquidity Hub Connect | No | |
Sale and purchase of rights | No | |
Repo services | No | |
Market restrictions | Yes | |
FTT | No | |
Daily reconciliation | Yes | |
Link eligible for use in Eurosystem credit operations | No | |
Moments of entry of instructions | The moment of the entry into the system of settlement instructions occurs with the validation performed on the T2S platform, according to the T2S rules. | |
Irrevocability of instructions | The moment of the irrevocability of settlement instructions introduced in the system and properly validated occurs with the matching performed in T2S. | |
Finality of instructions | The time of settlement finality occurs with the settlement processed in T2S. | |
a. Settlement in CHF is possible only for non-Swiss securities and not against SIX SIS as counterparty in CEU.
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 - Portugal for the complete information about Legal arrangements.
Cash correspondent details
Currency: | Euro (EUR) via TARGET2 |
CCB name: | Banque centrale du Luxembourg |
CBL account: | See TARGET2 payment instructions |
Swift address: | TRGTXEPMXXX |