Market Link Guide - Mexico

29.10.2020

Key features

CSD link as defined under CSDRa

Yes

Type of link

Indirect

a. CSD Regulation (EU) No 909/2014, Article 2(29).

 

CSD

Custodian

Name

S.D. Indeval, Institución para el Depósito de Valores

Banco Nacional de México S.A. Integrante del Grupo Financiero Banamex (referred to as “Citibanamex”)

FATCA GIIN

J6BGQZ.00001.ME.484

NXUTG8.00265.ME.484

LEI

529900LXYUUH8THE2P87

2SFFM4FUIE05S37WFU55

Country of incorporation

Mexico

Mexico

Account type

Omnibus account

Omnibus account

Legal Account name/ holder

Citibanamex on behalf of Third Parties – (Foreign)
Citibanamex as the participant in Indeval does not hold an individually segregated account for CBL

Clearstream Banking S.A.

Operational arrangements

Yes/NoRemarks
Settlement free of payment

Yes

Settlement against payment

Yes

 
Settlement against payment in central bank money account of CBL/CBL customers

No

CBL holds a cash account at the custodian. Against payment settlement takes place on Citibanamex cash account at the local central bank.

Bridge settlement

Yes

 
Shaping facility

No

 
Partial settlement

No

 
Settlement penalty fees

No

 
Pre-matching

Yes

 
Back-to-back processing

No

 
Allegements

No

 
Automatic compensation

No

 
Registered securities

Yes

 
Multi Market Securities

Yes

 
Lending and borrowing

Yes

For debt securities only.

Proxy voting

Yes

 
Investment Funds

No

 
Liquidity Hub Connect

No

 
Sale and purchase of rights

No

 
Repo services

No

 
Market restrictions

No

 
FTT

No

 
Daily reconciliation

Yes

 
Moment of entry of instructions

Moment of entry is determined when the transaction has been uploaded into Indeval’s system.

Irrevocability of instructions

Moment of irrevocability starts when the transaction has been matched in the system and both parties agree to settle the transaction in a future date.

Finality of instructions

Moment of finality is described when the transaction has been settled in the date agreed by both parties involved in the transaction.

Legal arrangements

The below section is based on the legal opinion obtained by CBL that was issued on 27 October 2020. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.

No insolvency proceedings against the Custodian or the CSD

Confirmed

Liability for negligence

Confirmed

Book-entry regime with in rem rights

Confirmed

Recognition of nominee concept

Confirmed

No right of retention to the Custodian/CSD

Confirmed

Segregation of assets at the CSD

Confirmed

No right of use

Confirmed

No upper-tier attachments

Confirmed

Insolvency of custodian with no impact on CBL's rights 

Confirmed

Shortfall pro-rated among holders

Confirmed

Record keeping period of at least 10 years

Confirmed

Settlement finality in case of insolvency

Confirmed