Asset servicing - Iceland
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 | |
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. |
Corporate Actions
| Service offered | Remarks |
| Notification to clients | |
Standard reporting. | On voluntary and standard mandatory events, CBL informs clients, on an “as and if received” basis, of unscheduled securities events occurring on account holdings. |
| 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, etc. | Clients are requested to instruct within the deadlines and/or procedures specific to each type of event. In the absence of instructions from its client, CBL will apply a “default option”, which may differ for each type of event. 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 services are not available in CBL for this market.
Entitlement compensation rules
Please refer to the Entitlement compensation rules - Iceland.