Issuance and distribution hub
LuxCSD offers a comprehensive range of issuance and distribution services for securities in bearer, registered or dematerialised forms, covering a wide range of instruments, such as debt, equities and structured products. These may be immobilised in LuxCSD enabling settlement in book entry form.
Issuance and primary market distribution is either free of payment (FoP) or versus payment (DvP).
The following documents which are attached below will support Issuers and Issuing Agents throughout the issuance process with LuxCSD.
Eligible currencies
LuxCSD offers issuance and distribution services for T2S-eligible securities in EUR and issuance is supported by Delivery versus Payment (DvP) in central bank money. All other listed currencies are supported for denominations purposes only.
The attached Excel file (Eligible currencies) gives details of currencies that are eligible in LuxCSD. Currencies can either be "full settlement" or "denomination only". An instrument can be issued in a denomination currency in LuxCSD, however proceeds payments and Delivery versus Payment (DvP) settlement will have to be conducted in CBL. Further information about cash correspondent banks and deadlines in CBL are available in the Cash Timings Matrix.
Operational arrangements
The LuxCSD Operational Arrangements provide Issuers and their appointed Agents with LuxCSD contractual and operational requirements for an issue to become and remain eligible in LuxCSD.
Security issuance checklists
The checklists for issuance under programme and stand alone issuance compiled in accordance with the recommendations by the International Securities Market Advisory Group (ISMAG) may assist the Issuer (Agent) in evaluating the completeness of securities information thereby allowing for a more timely and accurate servicing of the securities.
Issuance Effectuation Templates for Bearer and Registered Securities form
The effectuation and disposal authorisations must be signed by issuers when the Global Note is delivered electronically to the LuxCSD vaults operator, in order to permit effectuation of the Global Note thereby creating a valid issue.
Cancellation for Dematerialised Securities form
The effectuation and disposal authorisations do not apply for dematerialised securities because no Global Note is issued or delivered. However, a cancellation message via Swift is sent by the Issuer's Agent when the security is due for cancellation and removal from LuxCSD's issuance account. Please refer to the LuxCSD Swift guide.
Communication Guides
To provide timely and accurate processing of securities LuxCSD requires the use of standardised communications following the ISO/SMPG standards as defined in the respective part of the LuxCSD Swift guide for Agents:
- Part 1 – Settlement and Reconciliation messages (MT53x, MT54x, MT599)
- Part 2 – Corporate Action messages (MT56x)
- Part 3 – New Issue messages (MT599)