Asset servicing - Hungary


Income collection

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal and Xact File Transfer.

No specific deviations from standard reporting provided by CBL apply to the Hungarian market.

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.

For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook.

For details of the Clearstream Banking record date and ex-date, see the Securities Administration - Hungary section of the Market Profile - Hungary.

Corporate actions

Service offeredRemarks
Notification to customers

CBL and its depository will endeavour to collect dividend payments from the issuer or the issuer’s paying agent (as soon as the issuer or the issuer’s paying agent makes the dividends available) and credit the CBL customer’s account the next business day.

No specific deviations from standard reporting provided by CBL apply to the Hungarian market.

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.

Note: It is common practice for issuers to request notarisation and legalisation of documents that are required for non-income corporate events. Customer deadlines may consequently vary depending on the issuer's requirements.

Proxy Voting procedures

Proxy voting services are available in CBL for this market. For details about the proxy voting services offered by CBL, please refer to the CBL Customer Handbook and, for the market specific practices, please refer to the Market Profile - Hungary.

Entitlement compensation rules

Please refer to the Entitlement Compensation Rules - Hungary.