Corporate actions ICSD

Clearstream receives corporate action event information from many sources, such as:

  • The terms and conditions of the issue
  • Clearstream's sub-custodians
  • Financial publications
  • Independent information vendors
  • Other relevant sources.

Clearstream offers maximum flexibility for processing client instructions. For instance, clients will receive same-day-as-market notifications and same-day-as-receipt settlement of corporate action proceeds, as well as the systematic and accurate application of correct event types and available SWIFT fields for more than 50 events.

As part of our standard custody service, we offer to complete any paper form for corporate action participation, as long as it is allowed under the terms and conditions of the issue and/or by the issuer or their agent. Clearstream is working with industry bodies and standards agencies to reduce the use of paper forms, move to paperless events and increase straight-through processing.

Other benefits include active default management, real-time monitoring of instructions and automatic reminder notifications for uninstructed balances on voluntary events.

Through Xact Web Portal, clients can route corporate action reports to multiple final recipients. Xact Web Portal’s superior tools allow clients to fully customise their reports, subscription contents and timing. Clients get exactly what they want, when they want it. Thanks to its added-value tools, such as the Custody Dashboard where clients can easily identify their uninstructed balances, Xact Web Portal has the potential to become an even more dynamic exception management tool.

Clients can receive as many on-demand reports and confirmation messages as they want, maximising their performance and risk management. Improved reporting in Xact Web Portal provides real-time instruction status and detailed information on instructed and uninstructed positions.

Clients without a position on a relevant issue but who wish to obtain notifications can do so via Xact Web Portal

Corporate action instructions

Our deadlines currently stand at a maximum of one business day prior to a domestic market deadline for 90% of corporate action events. For Eurobonds we are looking at 2-3 business hours before market.

Clearstream clients may instruct on voluntary events via Xact Web Portal or Swift MT565, for which optional reporting via Swift MT567 is available.