Belgium: Change of depository for Belgian Investment Funds - Revised

19.11.2012

Effective

21 November 2012

the Belgian Investment Funds currently held with ING Bank, Brussels will be transferred to KBC Securities NV, Brussels.

New domestic depository details

KBC Securities NV
Havenlaan 12
1080 Brussels
Belgium

Depository code: 5B

Physical deliveries

Although the market is in a dematerialisation process, there are still some physical securities and these should be delivered to the above-mentioned address.

Once the depository is in possession of physical securities, these will be automatically sent to the agent for dematerialisation.

Customer guidelines for the cutover

The transfer of securities will take place on Tuesday 20 November 2012, after the daytime processing.

We strongly recommend customers to enter their domestic settlement instructions with a requested settlement date on/after 21 November 2012 after 18:30 on Tuesday 20 November 2012.

All domestic settlement instructions settling up to 20 November 2012 included will be handled and confirmed by our current agent ING Bank, Brussels (SWIFT address BBRUBEBB010).

All unmatched domestic instructions that remain unsettled at the close of business on 20 November 2012 will be cancelled. Customers will be informed via MT548 and will need to re-instruct with the new details as well as inform their counterparties to re-instruct against the new depository.

All matched domestic settlement instructions already released to the current depository and not settled by 20 November 2012 will remain pending with the current depository until end of business on Friday 23 November 2012. These transactions will be cancelled and customers are requested to re-instruct with new settlement details advising their counterparty accordingly.

All domestic settlement transactions not released to the current depository ING (for example, instructions with requested settlement date on/before 20 November 2012 that have not been provisioned or instructions with value date on/after 21 November 2012) will be forwarded automatically by Clearstream Banking1 to the new depository.

Note: Matched internal and Bridge instructions that are not settled at close of business on 20 November 2012 will not be affected by the transfer.

Procedures for domestic counterparties

For instructions in investment funds not eligible in CFF, by the market deadline:

Deliver/Receive to/from: KBSEBE22 (KBC Securities NV, Brussels)

For the account of: CEDELULL

In favour of/By order of: name and account number of CBL customer

Physical deposits

The contents of physical deposits are booked by KBC Securities NV, Brussels and given a preliminary validation against the most recent list of stop orders published by Euroclear Belgium (CIK SA/NV):

  • If the securities have been reported as lost or stolen or are subject to a stop order, KBC Securities NV will be obliged to seize them.
  • In any of the following circumstances, KBC Securities NV will reverse the deposit and return the securities:
  • If it is determined that the securities received fail to qualify as “good delivery”; or
  • If the securities are not eligible in CBL or with KBC Securities NV, Brussels; or
  • If the securities are only eligible in CFF in CBL; or
  • If the name and CBL account number of the underlying beneficiary are not provided in the shipment advice.

Customer instruction specifications

The instruction specifications to be used for settlement on/after 21 November 2012 are as follows:

CreationOnline
I. Investment funds not eligible in CFF

Receive Free
OTrade Date
ODeal Price
MPlace of SettlementBIC
PartyGEBABEBB36A
MDelivering Agent aBIC
Partycounterparty’s BIC
MSeller aBIC
Partyordering party’s BIC
MAccountordering party’s account
Deliver Free
OTrade Date
ODeal Price
MPlace of SettlementBIC
PartyGEBABEBB36A
MReceiving Agent aBIC
Partycounterparty’s BIC
MBuyer aBIC
Partybeneficiary's BIC
MAccountbeneficiary's account

II. Physical transactions

Receive Free
OTrade Date
ODeal Price
MPhysical transactionYES
MPlace of SettlementCountry Code
PartyBE - Belgium Physical
MDelivering Agent aBIC
Partycounterparty’s BIC
MSeller aBIC
Partyordering party’s BIC
MAccountordering party’s account

Creation via SWIFT and CreationDirect
I. Investment funds not eligible in CFF

Receive Free

Seq
O:98a: :TRAD//Trade date/timeB
O:90a: :DEAL//Deal price
M:95P: :PSET//GEBABEBB36AE1
M:95P: :DEAG//Counterparty’s BIC a
M:95P: :SELL//Ordering party’s BIC, if different from DEAG a
M:97A: :SAFE//Ordering party’s account

Deliver Free

O:98a: :TRAD//Trade date/timeB
O:90a: :DEAL//Deal price
M:95P: :PSET//CIKBBEBB[XXX]E1
M:95P: :REAG//Counterparty’s BIC a
or:95P: :REAG/EGSP/Counterparty’sESES participant account
M:95P: :BUYR//Beneficiary’s BIC, if different from REAG a
M:97A: :SAFE//Beneficiary’s account

II. Physical transactions

Receive Free

Seq
O:98a: :TRAD//Trade date/timeB
O:90a: :DEAL//Deal price
M:22F: :STCO//PHYSE
M:95P: :PSET//BEE1
M:95P: :DEAG//Counterparty’s BIC a
M:95P: :SELL//Ordering party’s BIC, if different from DEAG a
M:97A: :SAFE//Ordering party’s account

a. If no BIC exists for the Delivering/Receiving Agent or for the Seller/Buyer, you can use the Name and Address option instead in each case. If the appropriate BIC does exist but you do not provide it, STP cannot be guaranteed and you run the risk of incurring eventual charges.

Further information

An updated Market Guide (Belgium) will be available on our website on the effective date to reflect the changes.

For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.

1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).

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