Operational Information

Transaction Management Rules - Switzerland

Market Coverage | Switzerland

Reference

Service level
CBL | 6-series account | CEU OneClearstream
Last Updated
29.05.2026

CBL direct link to SIX SIS AG

Overview

CBL 

Internal (CBL-CBL)

Cross-CSD (CBL-CEU)

Domestic (CBL-Domestic C/P) 

Bridge (CBL-EB)

Detection  

Yes 

Yes 

Yes 

Yes 

Compensation 

Yes 

Yes  

Yes   

No 


CEU 

Internal 

(CEU-CEU) 

Cross-CSD  

(CEU-CBL)  

Domestic  

(CEU- Domestic C/P) 

Bridge 

(CEU-EB) 

T2S Cross CSD 

(CEU-T2S C/P) 

Detection  

Yes 

Yes 

Yes  

Yes 

n/a

Compensation 

Yes a

Yes a

Yes a

No 

n/a

a. Market claims and reverse market claims in non-T2S eligible currencies and securities are processed on the corresponding CBL account of the CEU clients. 

Detection

Detection period 

20 business days after the record date

Eligible assets

All securities

Eligible corporate action events 

All distribution events

Eligible transactions for detection 

 All as of status matched; 

Transactions with SETR SECL or RVPO or REPU or OWNI are excluded.

Detection key dates 

Securities in units

  • Trade date 

  • Ex-date 

  • Record date 

  • Effective/actual settlement date 

  • Securities in nominal 

  • Record date 

  • Intended settlement date

  • Effective settlement date

Processing

Eligible transactions for processing 

All as of status matched

Opt-out/Ex/Cum indicator

Supported

Characteristics of generated market claim instructions

Internal and Cross-CSD:

  • Transaction code “CLAI”; 

  • Status Matched; 

  • Same trade date as per underlying instruction; 

  • Settlement date being the payment date of the underlying event;

  • Partial settlement indicator as per underlying instruction (always NPAR for claims in cash);

  • On-hold/release status as per underlying instruction at the time the market claim instruction is created.

External:  

  • Cash and securities proceeds are compensated upon receipt of confirmation from the local agent.  

Market specifics

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 booking on the CBL accounts for non T2S-eligible proceeds. T2S eligible proceeds will be paid on the CEU account.

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 basis for compensation

Net

Transformations

CBL 

Internal (CBL-CBL)

Cross-CSD (CBL-CEU)  

Domestic (CBL-Domestic C/P) 

Bridge (CBL-EB) 

Detection

Yes

Yes 

Yes

Yes

Cancellation

Yes

Yes

Yes

Yes

Re-instruction

Yes

Yes

Yes

No

CEU 

Internal (CEU-CEU) 

Cross-CSD (CEU-CBL)  

Domestic (CEU- Domestic C/P)

Bridge (CEU-EB) 

T2S Cross CSD (CEU-T2S C/P)

Detection

Yes 

Yes 

Yes  

Yes 

N/A 

Cancellation

Yes  

Yes 

Yes 

Yes 

N/A 

Re-Instruction

Yes 

Yes 

Yes 

No 

N/A 

Detection & Cancellation

Detection period 

20 business days after the record date / market deadline

Eligible assets

All securities

Eligible corporate action events 

All mandatory reorganisation events

Eligible transactions for detection/cancellation 

 All as of status matched 

Transactions with SETR or SECL or RVPO or REPU or OWNI are excluded.

Detection key dates

Record date for Mandatory reorganisation events without options.

Market deadline for Mandatory reorganisation events with options.

Processing

Eligible transactions for processing

All as of status matched.

Transactions with SETR or SECL or RVPO or REPU or OWNI are excluded.

Opt-out, Hold, Partial settlement indicators

Supported

Market specifics

Re-instructions on domestic transactions are processed upon confirmation from the market and as cash/securities booking. Any domestic re-instructions generated as on-hold will be released by Clearstream on behalf of clients

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 Cum/Ex-indicator are not supported. 

    • There are no other differences with the market rules described above.

  • Transformations: The same rules are the market rules. 

  • Buyer protection: Subject to Manual Buyer Protection mechanism 

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