CBF Reporting – Transmission of year-end statements

Clearstream Banking AG, Frankfurt¹ informs clients about the upcoming changes for the transmission of year-end statements starting in February 2024.

Background

Since 2 May 2023, the CBF File Service is provided via the Xact Web Portal functionality. For more information about the migration of the CBF File Service to Xact Web Portal please refer to Announcement D22076.

As the year-end statements for 2022 were provided on 10 February 2023 for the last time via Deutsche Börse Web Portal, beginning 2024 the year-end statements for 2023 will be provided for the first time in Xact Web Portal.

Once the reporting is available in Xact Web Portal, the year-end statements 2023 can be downloaded in the next 365 calendar days. The print format of the year-end statement remains unchanged, although the output format for “CBF Jahresdepotauszug (CASCADE)” has been modified. Previously these statements were provided as ZIP, in future the files will be available as PDF. ZIP files will continue to be provided for the year-end information related to “CBF Jahresdepotauszug (Creation)”. These ZIP files will still contain the statements for any active CBF-i cash and securities accounts as well as for Xemac® positions that are pledged. In future, the reporting of shareholder data for Swiss registered shares will not be delivered in these ZIP files any longer. The CBF’s cash balance reports produced in the past will no longer be available, since with the introduction of the T2 / T2S consolidation project, cash settlement is mainly carried out via the "Dedicated Cash Accounts" of the Eurosystem.

With the provision of electronic statements, CBF informs about the status of securities holdings at the end of the year in a form that allows a reconciliation with clients' inhouse securities holdings electronically.

Information about JDA-Box

As part of the account master data, CBF stores for each account a legal address and an account number which serves to transmit the year-end statements. This account is called ”Jahresdepotauszug Box (JDA-Box)”. If a client maintains more than one CBF, CBF-i account, and / or ordered the service for Xemac®, the client will receive all year-end statements via this technical receiving account.

The JDA-Box defined for a CBF account master can be retrieved via the CASCADE Online functionality HOST using the transaction ”KAAK” with the function code ”IA” and the “Address - Typ/ - Nr”: 02 01.

If required, access to the above-mentioned transaction can be set up after 4 December 2023. The order can be sent by email to the Security Administration team of Deutsche Börse Group (secuadmin@deutsche-boerse.com).

Subject: KUSTA – JDA-Box Setting

Email body: Please add the transaction KAAK and function IA to the following users:

The access right is granted using the ten-digit user ID (ID-KZ) that must be specified in the email.

If clients want to change the account defined as JDA-Box (technical receiver account for all year-end statements), the new receiver account needs to be T2S eligible. It must also be allocated to an Organisational Unit (OU) in Xact Web Portal and specified as a resource account (CBF main account (XXXX 000)).

Client impact

The year-end statements for CBF and CBF-i accounts as well as information about Xemac pledge positions are provided via a predefined client account (JDA-Box). This account belongs to the CBF account master data and can be modified on request. Please contact your Relationship Officer, if you intend to modify the setup.

If a CBF main account is managed by a third party and there is no other relationship to CBF, the year-end statements will be provided to the account operator.

Please note, that year-end reporting will be available for download on Xact Web Portal only. It is a prerequisite for the download that the right CBF File Service - Download functionality is granted to the account which will receive the year-end statement. The Xact Web Portal administrator can check if the right has been granted. If the right is not displayed in the choice list yet, please send a request to Connect (connect@clearstream.com). To comply with regulatory requirements, CBF requests that clients apply for the respective access rights in Xact Web Portal for the interested department (for example, internal auditing or controls) - if not already done.

Allowing the preparation of the new transmission procedure towards Xact Web Portal, a frozen zone for specific account master data is set up. The period will start on 1 December and is scheduled to finish at year end 2023.

The following account master data is impacted:

JDA-Box: The account number entered for distribution of the year-end statements must remain unchanged during this period.
CBF and CBF-i accounts: A deletion of these accounts is not possible.
Legal address: The current data cannot be changed in December 2023.
Xact Web Portal Organisational Unit (OU) settings: The deletion of the CBF main account (xxxx 000) shall not be requested if it is defined as JDA-Box.

Contact

For further information, clients may contact Client Services or their Relationship Officer. Questions related to the technical connection can be addressed to Connect (connect@clearstream.com). Particular questions related to the CBF File Service – Download functionality for year-end statements will be answered by the experts of the Product Management Issuer CSD team (YES2025@clearstream.com).

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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.