Transaction management rules: Further enhancements
Clearstream Banking1 informs customers that effective
the transaction management process and reporting will be further enhanced to comply with CAJWG/CASG standards and with Issuer-CSD rules, if and when applicable.
Changes to market claims and reverse market claims
DRIP (Dividend Reinvestment Option) and DVOP (Dividend Option) events where the securities option is the default, will also become eligible for detection and compensation.
This is reported via MT564 Claim and Reversal Advice (CRA). This report is available upon subscription and covers all events eligible for compensation by Clearstream Banking. It is provided via SWIFT, Xact File Transfer and Xact Web Portal. Customers have the possibility of updating the events to be reported via Xact Web Portal or CreationOnline.
Customers should take note that occasionally, domestic transactions may be compensated in cash, even though the default is securities, mainly for U.S. securities.
The Customer Handbooks will be updated to reflect these changes.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.