Ukraine: Change of Clearstream Banking depository code
Following Announcement A24067 Clearstream Banking1 informs clients that effective
13 January 2025
the depository code for the Ukrainian market will change from depository code 51 to depository code KUwithin Clearstream Banking’s books; client positions will be realigned to depository code KU by Clearstream Banking operations by the 10 January 2025 end of day.
The scope of the direct link to the Ukrainian market does not change for the purpose of settlement and safekeeping of Ukrainian government bonds, denominated in Ukrainian Hryvnia (UAH) in an omnibus account structure, operated by JSC Citibank Ukraine, at the National Bank of Ukraine.
Impact on clients
The settlement instruction deadline on 10 January 2025 is 12:00 CET.
Instructions that have not settled by end of day on 10 January 2025 will be cancelled.
For cancelled instructions, clients must reinstruct with the new instruction specifications on 13 January 2025.
Cash instructions are not affected and there is no impact on clients.
CBL direct custody account at National Bank of Ukraine
CBL Depository Code: KU
Name | Clearstream Banking S.A. |
Account number | 10016-LU509248 |
Operator
JSC Citibank Ukraine
16-g Dilova Street
03150 Kyiv
Ukraine
1. Settlement information
Procedures for domestic counterparties
Procedure for the domestic counterparty | Deadline | |
receive from/deliver to | Clearstream Banking S.A. | Market deadline |
by order of/in favor of | A/C 10016-LU509248 | Market deadline |
2. Specific settlement rules / settlement restrictions
Domestic free of payment settlement
Domestic free of payment settlement in Ukrainian government bonds for change of beneficial owner and no change of beneficial owner is allowed.
Bridge settlement
Bridge settlement of Ukrainian government bonds is not possible.
Internal settlement
Internal settlement is possible against any Clearstream eligible currency, except KRW.
Lending and Borrowing/Repo
Ukrainian securities are not eligible for these programmes.
3. Instruction specifications
Xact via Swift and Xact File Transfer
MT540 Receive Free | Seq | |||
M | :22F: | :BENE | //YBEN, NBEN | |
M | :98a: | :TRAD | //Trade date | B |
M | :70E: | :SPRO | For change of benefical owner trades: 1st line//Name of the seller and seller's Registration code 2nd line//PSA No. nnnnnn (Number of purchase/sale agreement) 3rd line//ddmmyyyy (Date of agreement format) 4th line//Settlement price amount and currencya 5th line// Please quote “non-resident” for non-resident institutions OR “custodian” or “bank” for resident institutions For NCBO trades 1st line//Name of seller 2nd line// Please quote “non-resident” for non-residents institutions OR “custodian” or “bank” for resident institutions | B1 |
M | :95P: | :PSET | //NBUAUAUXXXX | E1 |
M | :95P: | :DEAG | /BIC of CP’s local agent in UKR | |
M | :95P: | :SELL | /BIC of CP | |
M | :97A: | :SAFE | //nnnnnn-XXnnnnnnnn OR //nnnnnn-XXnnnnnn up to 6 digits dash 2 Latin characters followed by 6 digits (for local custodians) | |
a. The deal price is not required if there is no change in beneficial owner. When present, it should be expressed as the actual price in the currency of the deal and UAH deal amount if available. Any deal price in expressed in % will be rejected.
MT542 Deliver Free | Seq | |||
M | :22F: | :BENE | //YBEN, NBEN | |
M | :98a: | :TRAD | //Trade date | B |
M | :70E: | :SPRO | For CBO trades: 1st line//Name of the buyer and buyer's Registration code 2nd line//PSA No. nnnnnn (Number of purchase/sale agreement) 3rd line//ddmmyyyy (Date of agreement format) 4th line//Settlement price amount and currencya 5th line// Please quote “non-resident” for non-residents institutions OR “custodian” or “bank” for resident institutions For NCBO trades 1st line//Name of buyer 2nd line// Please quote “non-resident” for non-residents institutions OR “custodian” or “bank” for resident institutions | B1 |
M | :95P: | :PSET | //NBUAUAUXXXX | E1 |
M | :95P: | :REAG | /BIC of CP’s local agent in UKR | |
M | :95P: | :BUYR | /BIC of CP | |
M | :97A: | :SAFE | //nnnnnn-XXnnnnnnnn OR //nnnnnn-XXnnnnnn up to 6 digits dash 2 Latin characters followed by 6 digits (for local custodians) | |
a. The deal price is not required if there is no change in beneficial owner. When present, it should be expressed as the actual price in the currency of the deal. Any deal price in expressed in % will be rejected.
In the above tables, M=Mandatory; O=Optional; C=Conditional; Seq=Swift message (sub)sequence.
4. Settlement deadlines
The deadlines shown below are valid provided that the client's instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market. Clients must also ensure that any necessary provision is available. If any of these criteria are not met, Clearstream Banking cannot guarantee timely settlement.
Important Note: As part of Clearstream Banking’s internal compliance procedures, all incoming client instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the client via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, clients are advised to input instructions at least 15 minutes before the associated deadline.
Settlement times in Central European Summer Time (CEST) / Central European Time (CET)
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
FOP=Free of payment SD=Settlement date | |||||||
Debt securities - domestic counterparty | |||||||
Receipts | FOP | 21:30 | 15:00 | 15:00 SD | 08:00 | 18:00 | |
Deliveries | FOP | 21:30 | 15:00 | 15:00 SD | 08:00 | 18:00 | |
5. Cash related information
Cash correspondent details
Currency: | Ukrainian hryvnia (UAH) |
CCB name: | JSC Citibank Ukraine |
CBL account: | UA27 3005 8400 0001 6006 4601 0800 4 a |
Swift address: | CITIUAUKXXX |
a. The use of IBAN is mandatory.
Clearstream Banking clients are requested to perform their cash management by either withdrawing their UAH funds and realigning them onto a local CCB (see Cash services).
6. Cash instruction deadlines
Note: All times are Central European Time (CET).
The deadlines for client cash instructions in UAH are as follows:
Period | Pre-advice | Withdrawal | Transfer | FX |
for Value Date (VD) = Settlement Date (SD) | ||||
All year | VD 11:00 | VD 11:00 | VD 20:00 | VD-2 11:30 |
7. FX Repatriation
According to Regulation #68, dated 19 May 2023, holders of securities eligible for repatriation have the obligation to hold these securities for a period of 90 calendar days (CDs), prior to the payment date of the interest/coupon derived from government bonds in UAH, to be eligible for FX/repatriation.
Clients should note that principal redemption derived from government bonds, including the so-called “military bonds” is out of scope and remains unrepatriable until further notice.
Clearstream Banking issues a corporate action event (OTHR) via MT564 to provide the clients in favour of whom the proceeds have been received, the option to send a confirmation of indemnity. If the confirmation of indemnity is received, Clearstream Banking will perform the FX/repatriation to those clients on their regular accounts.
This indemnity (the “Indemnity”) in the context of the UAH FX/repatriation event (the “Event”) serviced by Clearstream Banking S.A. (“CBL”):
We hereby represent and warrant, in the context of the Event, that (i) we or any of our underlying clients have retained the securities for a period of 90 calendar days prior to the coupon/interest payment, (ii) no request of FX/repatriation from us or any of our underlying clients has occurred in deviation from the framework in place with the official local regulation issued by National Bank of Ukraine (“NBU”) (the “Warranty”).
We certify that we have performed all the necessary checks and due diligence to fully satisfy ourselves as to the accuracy of the Warranty and have obtained all supporting documents (if any) in relation thereto (the “Certification”).
We hereby agree that we shall assume full responsibility in relation to the accuracy, reliability or completeness of the above Warranty and Certification.
In consideration of the above, we expressly agree that we shall fully indemnify, defend and hold CBL harmless from and against, any and all claim levied against CBL, loss, liability, damage, judgment, settlement, fine, penalty, demand, cost or expense suffered by CBL (including, without limitation, fees and expenses of defending itself or enforcing this agreement) arising out of or in connection with this Indemnity; including any claims, penalties, taxes and interest thereon, levied by any competent authority in connection with the Warranty and/or the Certification, or in respect of any other costs incurred, in connection with any action taken by CBL in reliance upon the content of this Indemnity.
This Indemnity shall be governed and construed in accordance with the law of Luxembourg.
Further information
For further information about the new link and to discuss onboarding requirements, clients are invited to contact their Relationship Manager for further information.
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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 (for Clearstream Banking AG clients using Creation accounts), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.