Entitlement Compensation Rules - Spain
Bonds
Market compensation basis: | Settlement Date |
Automatic Compensation Managed by Local CSD: | Yes, see Additional information below |
Restriction on custody events/transaction types: | Not applicable |
Tax status of claim | Gross amount |
Equities
Market compensation basis: | Trade date |
Automatic Compensation Managed by Local CSD: | Yes, see Additional information below. |
Restriction on custody events/transaction types: | No restriction |
Tax status of claim | Gross amount |
Additional information: Market claims (for both cash and securities where applicable) for instructions on securities The issuer CSDs apply trade date accounting for securities that are in units and settlement date Market claims in T2S will have their own lifecycle once matched (via Already Matched instructions) by | |
Service offered by CBL: Adjustment is performed based on information received from the depository. Depending on the complexity of the trades involved, the compensation process can take up to several months on the Spanish market. |