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Transaction management rules - Norway

10.06.2024

Detection	Yes
Processing	Yes

Detection period	20 Clearstream business days after the record date
Eligible corporate action events	Cash dividends only (DVCA MAND)
Eligible transactions for detection	Internal All as of status matched	External All as of status matched
Detection key dates	Trade date Ex-date Record date Effective/actual settlement date

Eligible transactions for processing	Securities in units or on non-interest events Settled	Securities in nominal or on interest events n/a
Opt-out/Ex/Cum indicator	n/a
Characteristics of generated market claim instructions	Internal: Transaction code “CLAI” Status unmatched Same trade date as per underlying instruction Settlement date being the payment date of the underlying event Partial settlement indicator always NPAR because only market claims in cash are generated On-hold/release status as per underlying instruction at the time the market claim instruction is created	External: Transaction code “CLAI” Cash is compensated upon receipt of confirmation from local agent
Market specifics	Market claims are only detected and processed when the following conditions are met: CAEV/CAMV: DVCA MAND^a Proceeds: Cash only Detected underlying transaction is a “Cum trade^b”, i.e., trade date is before ex-date of a DVCA event. Underlying transaction follows T+2 rule^c, i.e., trade date + 2BD equals to Contractual settlement date.

Underlying transactions involving events other than cash dividends are not detected/processed.
Underlying transactions traded ex, i.e., reverse market claims are not detected/processed. They must be bilaterally agreed between the counterparties.
c. Regarding external trades, The dividend payment is made through the VPS system but, in order to calculate the dividend entitlement, it is assumed that all trades settle on time (that is, on a T+2 basis).
It is on this basis that the VPS system makes the disbursement of the dividend payment and any deviation from this will require manual amendment.
If a T+2 trade has not settled on time, manual adjustments to the entitlement are possible in the VPS system. Manual adjustments done within the three days after the Record Date are based on the Trade Date. Cum-trades will be adjusted if settled within the relevant three days.

Transformation Cancellation	Yes
Transformation Reinstruction	No

Detection period	20 Clearstream business days after the record date
Eligible corporate action events	All income and non-income mandatory reorganisation events in cash and securities
Eligible transactions for detection/cancellation	Internal and External Status matched, but still pending
Detection key dates	Mandatory reorganisation events without options Record date	Mandatory reorganisation events with options Market deadline

Not applicable

Subject to Manual Buyer Protection mechanism.

Additional information is available in the CBL Client Handbook.

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