Market Link Guide – Armenia
Key features
CSD link as defined under CSDRa | Yes |
Type of link | Direct |
a. CSD Regulation (EU) No 909/2014, Article 2(29).
CSD | |
Name | Central Depository of Armenia |
FATCA GIIN | 3W9I7K.99999.SL.051 |
LEI | 253400ML866V3CRYT079 |
Country of incorporation | Armenia |
Account type | Omnibus account designated as nominee account |
Legal Account name / holder | Clearstream Banking S.A. |
Operational arrangements
| Yes/No | Remarks | |
| Settlement in T2S | No | |
| Settlement free of payment | Yes | |
| Settlement against payment | No | |
| Settlement against payment in central bank money account of CBL/CBL client | Not available | |
| Bridge settlement | No | |
| Shaping facility | No | |
| Partial settlement | No | |
| Settlement penalty fees | No | |
| Pre-matching | No | |
| Back-to-back processing | No | |
| Allegements | Yes | |
| Automatic compensation | No | |
| Registered securities | Not available | |
| Multi Market Securities | No | |
| Lending and borrowing | No | |
| Proxy voting | No | |
| Investment Funds | No | |
| Liquidity Hub Connect | No | |
| Sale and purchase of rights | No | |
| Repo services | No | |
| Market restrictions | No | |
| FTT | No | |
| Daily reconciliation | Yes | |
| Link eligible for use in Eurosystem credit operations | No |
| Moment of entry of instructions | Market participants insert the instructions in the CSD system. When the instructions match, CSD system generates the batch and makes the final settlement. |
| Irrevocability of instructions | Starting the moment of Final settlement, the instructions are irrevocable. Before the final settlement, each party can cancel its instruction. |
| Finality of instructions | Transfers become final after settlement. |
Legal arrangements
The below section is based on the legal opinion obtained by CBL that was issued on 21 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 CSD | Confirmed |
Liability for negligence | Confirmed |
Book-entry regime with in rem rights | Local law provides for a book entry regime for the transfer of nominal securities but not of fungible securities. |
Recognition as direct CSD account-holder | Confirmed |
Recognition of nominee concept | Confirmed |
No right of retention for the CSD | Confirmed |
Segregation of assets at the CSD | Confirmed |
No right of use | Confirmed |
No upper-tier attachments | Local law allows for upper tier attachments on securities credited to the direct CSD accounts. |
Insolvency of CSD 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 |