CBF Release Information November 2017
In addition to announcements “CBF Release in November 2017: Advance announcement of changes” (D17037) dated June 2017, “Changes due to the German Investment Tax Act Reform" (D17047) dated 12 September 2017, “Information for T2S Release 1.3.1 – Deployment Date for 20 November 2017” (D17044) dated 7 September 2017 and “Taxbox: Service Enhancements and Customer Simulation” (D17051) dated 28 September 2017 the following provides additional information about the changes to be implemented on
Monday, 20. November 2017
CASCADE-LION
Introduction of a new rejection code
The changes required for CASCADE-LION in November 2017 were already explained in detail in announcement “CBF Release in November 2017: Advance announcement of changes” (D17037)
In addition, Clearstream1 would like to add the following example:
The MT537 reporting for rejected LION trades (based on the re-instructing functionality) will be enhanced to support T2S and CBF error codes in 70D::REAS
:25D: :SETT//PEND
:16R: REAS
:24B: :PEND//NARR
:70D: :REAS///RC/VZ/MVCV205 No CBF error text available. Please refer to the UDFS document.
:16S: REAS
SWIFT Release 2017
The changes required for the SWIFT Release 2017 in November 2017 were already explained in detail in announcement “CBF Release in November 2017: Advance announcement of changes” (D17037).
Concerning the already published adjustment in the MT548 positive business validation feedback related to cancellation requests, the following provides an example:
Current logic:
:23G:INST
:25D::CPRC/DAKV/PACK
New logic:
:23G:CAST
:25D::CPRC/DAKV/PACK
Further Connectivity changes to MT535 and MT536 are listed in the document "CBF Customer Simulation for T2S Release 1.3.1 Customer Notification".
Investment Tax Reform
The announcement “Changes due to the German Investment Tax Act Reform" (D17047) explained in detail the changes required by the German Investment Tax Act Reform.
Asset Services
Modification of the admission process for TEFRA D securities
Due to a changed interpretation by the US authorities regarding the CBF TEFRA D admission process, CBF decided to modify the current TEFRA D admission process.
Background:
CBF uses “Global Certificates UpTo” for processing the TEFRA D admission. This special type of global certificates is variable regarding the booked nominal within a given range, named “UpTo-Nominal”. This UpTo-Nominal is equal to the issued nominal of the security. The booked nominal (sold nominal) can be modified via mark-up/mark-down instructions. A mark-up (increase of the sold nominal) does not start a new TEFRA D period (current status).
The US authorities interpret a mark up as an increase of the issued nominal and expect a new TEFRA D period to be started.
To avoid this “re-start”, CBF modifies the admission process for TEFRA D securities.
Affected are all co-issuing banks, that are issuing TEFRA D securities on behalf of their clients. Affected banks are contacted directly by CBF to provide them the necessary details of the new TEFRA D admission process.
KADI processing number and BID printed on KD110
In the list of summary of income and fees KD110 for original runs and re-runs the KADI processing number will be shown on the right hand side of the entitlement/record date. If selected, the BID will be printed based on income segments below the ISIN. In the case of a multiple BID the further KADI processing number is printed next to the BID.
Deletion of sub-accounts /802 - 812
Sub-accounts for separation of holdings in the context of U.S. tax are no longer needed since the decommissioning of the related functionality in KADI and therefore deleted by CBF. The deletion will be finalised by mid of November 2017.
WSS changes
Several new fields will be introduced for the KADI “Erträgnisse Segment” (income segment) and the “Tilgungs Segment” (redemption segment) in context of the WSS changes:
- CBF WSS
The below fields will be introduced for the CBF WSS “Erträgnisse segment" and the “Tilgungs” segment:Field name Field type Field length KZ WÄHRUNGSWAHL Alphanumeric 3 digits WÄHLBARKEIT Alphanumeric 3 digits ART UMRECH.KURS Alphanumeric 3 digits UMR. KURS Alphanumeric 3 digits 2. WRG Alphanumeric 3 digits UMRECHNUNGSKURS Alphanumeric 6 digits + comma + 7 (decimal) digits The below field will be introduced for the CBF WSS “Tilgungs segment":
Field name Format Field type KL. STÜCKELUNG Numeric 10 digits - WSS Online Plus
The below fields will introduced for the WSS Online Plus “Erträgnisse segment":Field name WÄHLBARKEIT UMR. KURS UMRECHNUNGSKURS
The below fields will be introduced for the WSS Online Plus “Tilgungs segment":Field name KZ WÄHRUNGSWAHL WÄHLBARKEIT UMR. KURS UMRECHNUNGSKURS KL. STÜCKELUNG
Enhancement of online overview for custody
The online overview for custody amounts (Host transaction code KVGI, function code UE) is enhanced by a column for tax amounts. From January 2018, the amounts resulting from tax credits, bookings for tax relief and tax refunds will be shown there.
CASCADE-PC
CASCADE-PC version 9.3 will be launched on 20 November 2017. This release has been defined as a mandatory release, that is, CASCADE-PC customers are enabled to work with CASCADE-PC version 9.2 until Friday, 17 November 2017. Version 9.3 will not be executable by that date. The new version 9.3 has to be used as from 20 November 2017. Version 9.2 will no longer be supported as from that date. CASCADE-PC version 9.2 has to be uninstalled and the new version 9.3 must be installed after 17 November 2017. The installation of the new version should however be done before the first login takes place.
Further changes concerning CASCADE-PC were published in the announcement “Information for T2S Release 1.3.1 – Deployment Date for 20 November 2017” (D17044).
The following modifications will be implemented in version 9.3:
- Decommissioning pre T2S functionality CASCADE
- Bug fixes and continuous improvements
Important updates:
- Reactivated OTC: reservation service: display reservation against payment (KVAR IR)
- Removed cash: accounting: all functions (KUCI KI/GU)
- Removed cash: modify cash forecast configuration rule (KUAA RA)
- Removed cash: cash forecast: detail overview (KUCF DE)
- Removed cash: cash forecast: cash forecast configuration rule (KUCF RI)
- Update cash: cash forecast: set "processing cycle" to "NTS - night time settlement" (KUCF)
- Update cash: cash forecast: label "CBF account/DCA reference" (KUCF)
- Removed cash: unverified instructions: modify/delete: field instruction type (KNGI ID)
- Removed movements/positions: movements: booked movements field "cycle" (KVDU ID)
- Removed OTC: enter: field "RTS-DvP" for all functions (KVEE)
- Removed OTC: enter: field "counter-instruction" for all functions (KVEE)
- Removed OTC: enter: receipt: field "self collateralisation" (KVEE)
- Removed OTC: pending instructions: match service: cancel matched instructions (KVAM RM)
- Removed OTC: self collateralisation: all functions (KVAC)2
- Removed OTC: pending instructions: information: RTS and SDS instructions (KVAI SR/SS)2
- Removed OTC: pending instructions: display reservation against payment (foreign currency) (KVAR IW)2
- Removed clearing partner "25 Iberclear" for bank info: bank search: (KVAV)
New functions or enhancements:
- Enhanced: Modification now available for sell transactions (KVLA AL)
- Enhanced: New field "legal entity identifier" for bank information
- Enhanced: Enter of ISO transaction code for OTC instructions
- Enhanced: Windows OS version now shown at information footer and detail view
- Enhanced: New layout resolution 1920 x 1080 available
Furthermore, various problem fixes have been implemented in version 9.3.
Xemac
Mandatory Xemac version 5.9
A new Xemac® version 5.9 will be implemented with the release on 20 November 2017. The participating banks have to install the Xemac version 5.9 by this date. Thereafter, it will not be possible to access the Xemac®version 5.8 anymore.
The new version will provide an enhanced encryption between Xemac Client and Server and will thereby ensure a secure online access for the Collateral Management activities.
The software for the Xemac version 5.9 will be available for download for Premium users as of 30 October 2017 under Xemac technical specifications.
The Xemac Installation Manual will be available under Xemac technical specifications as well.
New GC Pooling basket
A new GC Pooling basket “GCP US” will be available with the release on 20 November 2017.
For a detailed basket composition, please refer to the related communication on the Eurex Repo website.
Usage of the new baskets can be set up in Xemac using the existing settlement currencies.
Taxbox
As announced in the announcement “CBF Release in November 2017: Advance announcement of changes” (D17037) and “Taxbox: Service Enhancements and Customer Simulation” (D17051) with the upcoming CBF Release in November 2017 the Taxbox service will be prepared for enhancements linked to the German Investment Tax Reform Act (InvStRefG). The related changes will only become effective with the commencement of the German Investment Tax Reform Act on 1 January 2018. Technical specifications concerning message formats, XML structure and a FAQ document are available under Taxbox.
T2S Release 1.3.1
The changes required for T2S Release 1.3.1 in November 2017 were explained in detail in announcement “Information for T2S Release 1.3.1 – Deployment Date for 20 November 2017” (D17044).
Amongst other enhancements, the announcement shows the modifications related to the KUSTA Data Carrier “CBF Customers”.
CBF customers requested to add a flag for the “Legal Entity Identifier” and to see an indicator whether a customer is set up to accept against payment instructions (“Teilnahme DvP”).
The following tables show the format for these fields which will be added as number 30 and 31 in the current structure. The existing filler will be reduced accordingly. The entire description of the format and structure after the deployment of the Release November 2017 can be found in announcement D17044.
| No. | Field name | Description | Format | Format description of the new value |
| 30 | LEI | Code that identifies distinct legal identities that engage in financial transactions. The LEI will be provided for any CBF account master, even though the customer opts for an “unpublished participant setup”. | A(20) | The LEI provided by CBF customers will be published. This 20-digit alpha-numeric code is based on the ISO 17442 standard developed by the International Organisation for Standardisation (ISO). |
| 31 | Teilnahme DvP | Indicator, whether against payment transactions will be possible. | A(1) | The flag indicates whether DvP instructions will be supported. J = Yes, registered for participation |
Customer simulation
From 23 October until 17 November 2017, Clearstream offers customers a free simulation test phase for changes related to the November Release 2017. The simulation will be set up on the simulation environment IMS23.
For changes related to T2S release 1.3.1, the "CBF Customer Simulation for T2S Release 1.3.1 Customer Notification" was published end of September 2017. The simulation will be set up in the CBF IMS23 simulation environment. The simulation test phase for the Taxbox service will be extended until 8 December 2017.
Connectivity Service
CASCADE
Telephone: +49-(0) 69-2 11-1 15 90
Fax: +49-(0) 69-2 11-61 15 90
Email: connectfrankfurt@clearstream.com
08:00 –18:00
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. Already done in CASCADE-PC version 9.2