Scope - Clearstream

c Dealer/ LM
d IPA
d IPA
d ICSDs
c IPA
d IPA
d
IPA
Initiator Recipient Timing
IPA
ICSDs
ICSDs
IPA
Dealer/LM/
any other
interested
parties
ICSDs
ICSDs
At the code
allocation request,
or immediately after
the fixing of pricing
details (generally
on the Closing Date
-5 Business Days)
and prior to the
listing request if any
At the code
allocation request,
or immediately after
the fixing of pricing
details (generally
on the Closing Date
-5 Business Days)
and prior to the
listing request if any
At the code
allocation request,
or immediately after
the fixing of pricing
details (generally
on the Closing Date
-5 Business Days)
and prior to the
listing request if any
On acceptance
Within 1 working
day (24 hours) of
receipt 22
On acceptance
On the Closing
Date -1 Business
Day
On occurrence and
before closing
N EW ISSUES - MARKET PRACTICE BOOK
Actions
• Instruct the IPA to obtain ISIN and/or Common Code
for the security
• Request ISIN and/or Common Code based on the
corresponding Programme number and the minimum
requirements to set up a code, specifying the CGN or
NGN form (by phone, e-mail or via EPIM 20 )
• For non-standard structures and securities in units:
provide draft Final Terms 21
• Provide ISIN and/or Common Code 23
• For NGNs & NSSs, appoint CSK and advise IPA
• Relay ISIN, Common Code, Common Depository
(or CSP & CSK) information
• Provide details of all issues closing the next day via
a basic confirmation 24 for ICSDs to validate data
• Highlight pre-closing security features updates, if any,
together with the last version of the draft document 25
20 Besides the European Commercial Papers and European Certificates of Deposit, the allocation of codes is also
possible for MTNs via EPIM.
21 If no draft Final Terms is available, the complete draft term sheet should be sent. For efficiency purposes, the
number of draft versions sent should be limited (unless a change of structure is taking place) and focus on the last
version of the draft Final Terms (or term sheet).
22 Dependent on any eligibility issues that may arise that requires further clarification from the IPA and on the
communication mean used e.g. STP via EPIM, Codes allocated immediately.
23 See footnote 8 in this chapter.
24 Further to the Money Market Instruments committee, this step needs to be continued as long as all issues are not
created/updated through EPIM. This is the only way to ensure accurate issuance details are provided prior to the
issue date.
25 For efficiency purposes, the number of draft versions sent should be limited (unless a structure change is taking
place) and focus on the last version of the draft Final Terms to be received in time to ensure eligibility.
27