LuxCSD Investor-CSD link activation for the Spanish (Iberclear) and Portuguese market (Interbolsa) – Update
Note: This announcement, originally published on 2 June 2002 and updated on 23 October 2020, has been further updated to include information on tax services for Spain in the attachment.
As a next milestone in implementing our enhanced Investor-CSD solution, effective
30 November 2020 (Spain) and 14 December 2020 (Portugal)
LuxCSD1 is pleased to announce the activation of its direct link to Clearstream Banking AG for Iberclear and Interbolsa eligible securities for settlement in T2S.
The securities to be eligible for holding in LuxCSD are, but not limited to:
Country | CSD | Type of link | Securities eligible | Service activation date |
Spain | Iberclear | Direct link to CBF, Frankfurt for holding Iberclear eligible securities | Public debt securities, listed equities including regional equities, listed warrants, exchange traded funds. | Monday, 30 November 2020 |
Portugal | Interbolsa | Direct link to CBF, Frankfurt for holding Interbolsa eligible securities | Government bonds, corporate bonds, listed equities, warrants. | Monday, 14 December 2020 |
Important note: The settlement of Portuguese taxable bonds will require LuxCSD customers to provide a Tax Identification Number (TIN) in the settlement instructions to allow CBF to report tax to the Portuguese tax authorities in CBF new role as Tax Agent. Further operational details will be published in due course.
In order to help customers prepare for the activation, a functional specifications document describing the market specific details concerning eligible assets, settlement, asset servicing and cash management for the Iberclear and Interbolsa eligible securities will be published prior to the activation date. Customers are asked to review this, as the access to Iberclear and Interbolsa eligible securities may require system changes, especially in the areas of asset servicing and connectivity.
We would like to remind customers that technical specifications related to SWIFT are available in the Xact via SWIFT User Guide.
Further information
For further information, customers may contact LuxCSD Client Services or their Relationship Officer.
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1. LuxCSD refers to LuxCSD S.A., registered office at 42, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B-154.449.