Scope - Clearstream

MARKET PRACTICE BOOK - INCOME
48
a
e
Calc./Determ.
Agent
a
e
Step 1: Diarised by CA/DA/PPA/CD/CSP from T&C
b + f
CD/CSP
ICSD SD
Issuer
T&C
(static data)
PPA
ICSDs’
account
holders
a
Initiator/Party Recipient Timing
Static Data extraction – Fixed and Variable securities
Issuer (per T&C)
CD/CSP/PPA/
CA/DA (when
applicable)
(Third Party)
Calc./ Determ.
Agent
b PPA
c CD/CSP
d
ICSDs
Agents
n/a
Issuer/
PPA
CD/CSP
ICSDs
ICSDs’
account
holders
c g
Step 2: Details confirmed before each income payment
At issuance of
securities
At issuance,
and before the
first Fixing/
Determination Date
At the latest on
Fixing Date +1
Business Day and
on Closing Date
+1 Business Day
for fixing occurring
before Closing
Within 1 Business
Day
Same Business Day
notification
Upon receipt
Nature of
information
Defined in T&C
as per the Asset
Servicing template
Based on securities
documentation/
T&C
Information to be provided on Fixing Date – Variable securities category 1
Rate information
and payable
amount
Rate information
and payable
amount
Rate information
and payable
amount
Rate information
and payable
amount
d + h
Actions
Describe the income event details (e.g.
coupon, redemption, formula, Fixing Date
and info, etc.) (see Annex 6A)
Step 1
• Diarise info based on T&C
• Monitor timing of income events
Calculate and provide the fixing details
using the applicable template
(see Annex 6B)
If applicable, advise the Stock Exchange
Step2
Communicate the rate and other relevant
details using the applicable template
(see Annex 6B)
Step2
Communicate the rate and other relevant
details as defined in the MOP
Step2
Communicate the rate and other relevant
details