Market Link Guide - Mexico
Key features
CSD link as defined under CSDRa | Yes |
Type of link | Indirect |
a. CSD Regulation (EU) No 909/2014, Article 2(29).
CSD | Custodian | |
Name | S.D. Indeval, Institución para el Depósito de Valores | Banco Citi Mexico S.A., Institución de Banca Múltiple, Grupo Financiero Citi México (Citi Mexico) |
FATCA GIIN | J6BGQZ.00001.ME.484 | NXUTG8.00546.ME.484 |
LEI | 529900LXYUUH8THE2P87 | 529900H31AYI6WA1J534 |
Country of incorporation | Mexico | Mexico |
Account type | Omnibus account | Omnibus account |
Legal Account name/ holder | Banco Citi Mexico S.A. on behalf of Third Parties – (Foreign) | Clearstream Banking S.A. |
Operational arrangements
| Yes/No | Remarks | |
| Settlement free of payment | Yes | |
| Settlement against payment | Yes | |
| Settlement against payment in central bank money account of CBL/CBL customers | No | CBL holds a cash account at the custodian. Against payment settlement takes place on the Banco Citi Mexico S.A. cash account at the local central bank. |
| Bridge settlement | Yes | |
| Shaping facility | No | |
| Partial settlement | No | |
| Settlement penalty fees | No | |
| Pre-matching | Yes | |
| Back-to-back processing | No | |
| Allegements | No | |
| Automatic compensation | No | |
| Registered securities | Yes | |
| Multi Market Securities | Yes | |
| Lending and borrowing | Yes | For debt securities only. |
| Proxy voting | Yes | |
| Investment Funds | No | |
| Liquidity Hub Connect | No | |
| Sale and purchase of rights | No | |
| Repo services | No | |
| Market restrictions | No | |
| FTT | No | |
| Daily reconciliation | Yes |
| Moment of entry of instructions | Moment of entry is determined when the transaction has been uploaded into Indeval’s system. |
| Irrevocability of instructions | Moment of irrevocability starts when the transaction has been matched in the system and both parties agree to settle the transaction in a future date. |
| Finality of instructions | Moment of finality is described when the transaction has been settled in the date agreed by both parties involved in the transaction. |
Legal arrangements
The below section is based on the legal opinion obtained by CBL that was issued on 30 November 2023. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.
No insolvency proceedings against the Custodian or the CSD | Confirmed |
Liability for negligence | Confirmed |
Book-entry regime with in rem rights | Confirmed |
Recognition of nominee concept | Confirmed |
No right of retention to the Custodian/CSD | Confirmed |
Segregation of assets at the CSD | Confirmed |
No right of use | Confirmed |
No upper-tier attachments | Confirmed |
Insolvency of custodian with no impact on CBL's rights | Confirmed |
Shortfall pro-rated among holders | Confirmed |
| Record keeping period of at least 10 years | Confirmed |
Settlement finality in case of insolvency | Confirmed |