Reminder: Clearstream Banking Release November 2013
Effective Monday, 18 November 2013, as part of Clearstream Banking's ongoing commitment to the timeliness, detail and quality of our services to customers, CBL1 will implement significant enhancements to our existing services across a number of operational areas. The main changes that deliver a better service to customers include the following:
Asset services
- Introduction of new corporate event types, to minimise events reported as “OTHR”. The new event types will be included in the complete process chain, from notification to confirmation.
- Simplified scheduling of MT566 and inclusion of all proceeds credited to the customer account, from income events, redemption events and corporate actions. Alignment of the MT566 with the MT564 and SMPG recommendations.
- Additional IPAR intra-day report at 08:00 CET, in order to further support customers in the APAC region.
- Improvement to the processing of UK Government bond income payments.
Tax services
- Generation of MT566 Corporate Action Confirmation for payments linked to tax refunds, improving reconciliation.
- Enhanced tax certification process across all eligible markets by sending certification requests to customers.
- Improved deadline for tax certification on the Spanish market.
- Improved tax rate reporting for dividend payments for Canadian shares held in the US market.
- Addition of a new qualifier to report IRS income classification for income event notification on the US market.
- Search capability to find securities subject to FATCA via the CreationOnline securities codelist.
Connectivity
- Option to schedule reports in Excel format (XLS) for delivery by CreationDirect.
- Possibility to exclude securities in default from reports.
- Improved reporting including new event types, new timings, new query filters and warning messages.
- Enhanced custody dashboard to show notification of certification requests for securities falling under TEFRA D rules.
Further information
For the full details of these changes and other service enhancements, please refer to the Clearstream Banking Release Information November 2013.
1. Clearstream Banking S.A. (CBL) is a Deutsche Börse Group company with registered office at 42, avenue J.F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248.