Instruction specifications - Investment funds held directly on the register (CFF) - Xact via SWIFT and Xact File Transfer - Luxembourg - LuxCSD
Customers can instruct transfers of investment funds held directly on the register (CFF) by LuxCSD using Xact via SWIFT and Xact File Transfer as per the following specifications. The counter instruction from the Fund Issuance Account (FIA) will confirm the transfer with specifications of trade date (that is, when the transfer agent’s register of shareholders was updated) and settlement date.
For investment funds issued on the LuxCSD Creation settlement platform, CBL may adjust the customer’s instructed trade date and/or requested settlement date as required to match the counter instruction from the FIA.
For investment funds issued on the LuxCSD T2S settlement platform, in case the instruction from the FIA does not match with the customer’s original transfer instruction, the customer is required to cancel and replace their instruction accordingly. Customers that are processing transfers are therefore advised to monitor their allegements (MT578/MT586 via SWIFT or the Securities Allegements page in CreationOnline) to ensure timely settlement.
For information on LuxCSD’s settlement platform for the issuance of an investment fund, please refer to the Supported funds page and view the entries in the Published Fund List having the “Issuer (I)CSD” column set to “LUXCLULLXXX”; the “T2S active” column is set to “Y” for T2S and “N” for Creation issuance. For further information on transfers of CFF qualified investment funds, please see section 9.2 CFF Settlement and custody services in the Clearstream Banking Customer Handbook.
The specifications in the following table are mandatory; Seq=SWIFT Message (sub)sequence.
MT540 |
Receive Free on the register |
Seq | |
:22F: | :SETR | //TRAD | E |
:95P: | :PSET | //LUXCLULLXXX | E1 |
:95R: | :DEAG | /CEDE/FMA01 a | |
:95R: | :SELL | /CEDE/Transferor’s register account number b | |
:95R: | :BUYR | /CEDE/Ordering party’s CBL account number | |
|
|
| |
:22F: | :SETR | //TRAD | E |
:95P: | :PSET | //LUXCLULLXXX | E1 |
:95R: | :REAG | /CEDE/FMA01 a | |
:95R: | :BUYR | /CEDE/Transferee’s register account number b |
|
:95R: | :SELL | /CEDE/Ordering party’s CBL account number |
|
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a. Or specify the FIA of the corresponding TA in LuxCSD. Note the formats: 5 digits for 43xxx accounts and LUXC00 prefix for 48xxx accounts.
b. Or specify the transferer’s respectively transferee’s CBL account number for internal transfers of investment funds subject to CFF transfer restrictions.