Asset servicing - Russia
WARNING: Asset servicing is currently suspended at NSD until further notice.
The Russian market does not recognise the concepts of Payment Date or Ex-Date.
Income collection
Debt securities
| Service offered | Remarks |
| Notification to customers | |
| Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Customer Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Income and redemption payments from issuers will be processed on CBL’s RUB cash account opened with Sberbank. The standard record date for government, corporate and municipal bonds applied at NSD level is one business day before the date of the payment. Credit of proceeds by the issuer to the nominee holder is to take place within 10 working days from the record date. Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the customer's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook. |
Equities
| Service offered | Remarks |
| Notification to customers | |
Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Customer Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the customer's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | Shareholders decide on the dividend and establish a record date by the same decision, such a record date should be no later than 20 calendar days from the date of the shareholders meeting (and additionally, not earlier than 10 calendar days where the shares are publicly traded). Local custodians are the tax agents for dividend income and they request the necessary information to arrange for tax relief at source from its foreign clients. For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook. |
Corporate actions
CBL provides a standard notification service for predictable and unpredictable events.
For equities, Record Date (set in the past during general meetings) is recognised. Different types of corporate event may have different rules for Record Date determination.
| Service offered | Remarks |
| Notification to customers | |
Standard reporting. | |
| Instruction to CBL | |
Customers may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. | In addition, CBL informs customers, on an “as and if received” basis, of unscheduled securities events occurring on account holdings, such as rights offers, reinvestment options, exchange offers, purchase offers, mergers etc. |