Asset servicing - Poland
Income collection
Debt securities
| Service offered | Remarks |
| Notification to customers | |
Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Customer 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 customer'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 Customer Handbook. |
Equities, covered, corporate and municipal bonds
| Service offered | Remarks |
| Notification to customers | |
Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Customer Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Proceeds are calculated based on the positions recorded with CSD on the record date at close of dayand paid to the customer's account upon successful receipt from the local agent 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 Customer Handbook. |
Corporate actions
| Service offered | Remarks |
| Notification to customers | |
Standard reporting. | No specific deviations from standard reporting provided by CBL apply to the Polish market. |
| Instruction to CBL | |
Customers may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. | In addition, CBL informs customers, 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. |
Based on local market practice, issuers may require the completion of specific forms in order to participate in corporate actions. Upon receipt of the documents, CBL will pass the information requirements on to customers accordingly.
Note: CBL and its depository obtain these documents as soon as possible on a "best efforts" basis but availability is dependent on the issuers and, consequently, forms may have to be provided at short notice.
Voluntary events
In view of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61 (together called MiFID II) and in accordance with the requirements of the local market, individual persons are no longer eligible to participate via CBL in corporate actions that involve selling or buying securities on the Polish market, for example, tender offers.
Institutional investors can continue their participation, but they will have to provide their Legal Entity Identifier (LEI) in their corporate action instructions.
Proxy Voting procedures
Proxy Voting Services are available in CBL for Polish securities.
Entitlement compensation rules
Please refer to the Entitlement Compensation Rules - Poland.