Transaction Management Rules - Switzerland
Reference
CBL direct link to SIX SIS AG
Market claims and reverse market claims
Process | Applicability |
Detection | Yes |
Compensation | Yes |
Market claims /reverse market claims rules | |
Eligible corporate action events | All distribution events |
Detection period | 20 T2S opening days after the record date |
Eligible transactions | All as of status matched; transactions with SETR SECL or RVPO or REPU or OWNI are excluded |
Detection key dates | Securities in units:
Securities in nominal:
|
Opt-out/Ex/Cum indicator | Supported as additional matching field |
Characteristics of market claims instructions | Subject to a standard processing/formatting. All indicators are supported (Opt-out, Ex, Cum, Hold, Partial settlement). Compensations on domestic transactions are processed upon confirmation from the market and as cash/securities bookings on the CBL clients accounts. Any domestic claims generated as on-hold will be released upon release of the underlying settlement instructions. Partial settlement indicator is not supported for non-EUR transactions. |
Tax status of claims | Net basis |
Processing of reverse market claims | Applicable |
Market claims and reverse market claims on CBL client transactions
Internal (CBL -CBL) | Bridge (CBL-EB) | External (CBL -Domestic C/P) | |
Detection | Yes | Yes | Yes |
Compensation | Yes | No | Yes |
Transformations
Process | Applicability |
Detection / Cancellation | Yes |
Re-instruction | Yes |
Transformations rules | |
Eligible corporate action events | All mandatory reorganisation events |
Detection period | Market: Once at the end of the record date /market deadline CBL: 20 T2S opening days after the record date /market deadline |
Eligible transactions | All as of status matched; transactions with SETR SECl or RVPO or REPU or OWNI are excluded. |
Detection key dates |
|
Opt-out indicator | Supported as additional matching field |
Characteristics of re-instructions due to transformations | Subject to a standard processing/formatting. All indicators are supported (Opt-out, Hold, Partial settlement). Re-instructions on domestic transactions are processed upon confirmation from the market and as cash/securities bookings on the CBL clients accounts. Any domestic claims generated as on-hold will be released by Clearstream on behalf of clients. |
Transformations of CBL client transactions
Internal (CBL -CBL) | Bridge (CBL-EB) | External (CBL -Domestic C/P) | |
Detection / Cancellation | Yes | Yes | Yes |
Compensation | Yes | No | Yes |
Buyer protection
Subject to Manual Buyer Protection mechanism.
CBL indirect link via UBS AG
- Market claims and reverse market claims:
- For market claims and reverse market claims the eligible transactions are all instructions as of status matched.
- The opt-out and the Ex-indicator are not supported.
- There are no other differences with the market rules.
- Transformations: The same rules are the market rules.
- Buyer protection: Subject to Manual Buyer Protection mechanism
CEU direct link to SIX SIS AG
Please refer to the CEU Compensation Handbook.
