Asset servicing – South Korea – Equities and corporate bonds
Income collection
| 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 | |
Income payments will be automatically converted to USD. Proceeds are calculated based on the settled 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. |
Corporate actions
| Service offered | Remarks |
| Notification to clients | |
Clearstream Banking advises clients of their entitlement to participate in South Korean corporate actions (including, but not limited to, rights issues, stock split and tender offers) subject to their availability to foreign investors. | No specific deviations from standard reporting provided by CBL apply to the South Korean market. |
| Instruction to CBL | |
Clients may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. These options include, but are not limited to, put options, conversions, exercises of warrants, exchanges, detachment of warrants etc. | In addition, CBL informs clients, on an “as and if received” basis, of unscheduled securities events occurring on account holdings, such as rights offers, reinvestment options, exchange offers, purchase offers, mergers etc. |
Proxy voting procedures
Proxy voting is available for this market. For details about the proxy voting services offered by CBL, please refer to the CBL Client Handbook.
Entitlement compensation rules
Please refer to Entitlement Compensation Rules – South Korea – Equities and corporate bonds.