Market claims and transformations in cash on Eurobond transactions - Update
Note: This Announcement, originally published on 19 September 2022 and amended on 3 October 2022, has been further updated to confirm the actual implementation date. The information in Announcement L22010 still applies.
As communicated in Announcement L22010, LuxCSD automatically performs detection of market claims and reverse market claims as well as generation of market claims and transformations in cash.
In an effort to further harmonise the handling of market claims and transformations in cash, LuxCSD1 informs clients that, effective
12 June 2023
market claims and transformations in cash generated on transactions in Eurobonds between LuxCSD and Clearstream Banking S.A. (CBL) counterparties will be paid via payment without delivery (PFOD) instructions.
Impact on clients
LuxCSD clients will be paid directly on their DCA accounts.
Further information
For further information, clients may contact LuxCSD Client Services or their Relationship Officer.
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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.