Asset servicing – Australia
Income collection
Debt
| Service offered | Remarks |
| Notification to clients | |
| Standard Asset Servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Client Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the client's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Client Handbook. |
Equities
Dividends on equities are determined by the relevant companies according to domestic market practice and are updated by CBL in accordance with information received mainly from the depository.
| Service offered | Remarks |
| Notification to clients | |
| Standard Asset Servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Client Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Dividends proceeds are calculated based on the Cum entitlement position recorded at the close of business on record date and paid to the client's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Client Handbook. |
Corporate actions
Standard reporting is used for notification to clients; instruction to CBL is performed via standard processes. Please refer to the CBL Client Handbook for further details.
Clients may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. In addition, CBL informs clients on an “as and if received” basis of unscheduled securities events occurring on account holdings, such as bonus issues, reinvestment options, rights offers, exchange offers, purchase offers, mergers etc.
Some corporate actions may not be available to non-Australian investors.
Share purchase plans (that is, offers to top up existing holdings to a marketable parcel or to purchase small quantities of shares - up to a maximum of AUD 15,000 per beneficial owner - at a slight discount to the current market price) and other similar events are subject to certification requirements that may vary from one event to the other. Clients that wish to participate will generally be required to provide underlying beneficial ownership details such as name, address, the number of shares currently held and the number of shares applied for. Clients will also generally need to certify that there are no participating beneficiaries in respect of whom the total of the application amount exceeds AUD 15,000, under the following circumstances:
- The shares or interests applied for by the beneficial owner under the current share purchase plan, and;
- Any other shares or interest in the class issued to the client in the 12 months before the application as a result of an instruction given by each participating beneficiary to the client to apply for shares or interest on their behalf, under an arrangement similar to the purchase plan.
Proxy voting services
Proxy voting services are available in CBL for this market. For details about the proxy voting services offered by CBL, please refer to the CBL Client Handbook and, for the market specific practices, please refer to the Market Profile - Australia.
Entitlement compensation rules
Please refer to the Entitlement Compensation Rules - Australia.