Scope - Clearstream

MARKET PRACTICE BOOK
30
2.2.2.
2.2.2.1.
Information provision and timing per event types 11
For ICMA constituency: please also refer to the ICMA Guidance Note (see Annex 2).
Information flow for Predictable events other than those occurring upon a triggering
event or at the option of the Issuer
a
T&C
Step 1: Diarised by PPA/CD/CSP based upon T&C
PPA
Communication rarely occurring
CD/CSP a
Step 2: Deadlines and details confirmed before the
commencement of each exercise period
Initiator/Party Recipient Timing
Issuer
(per T&C)
CD/CSP/PPA
PPA
(relevant only
if PPA is
different from
CD/CSP)
CD/CSP
a’ PPA
b ICSDs
Agents
n/a
CD/CSP
ICSDs
ICSDs
ICSDs’
account
holders
a’
At issuance of
securities
At issuance, and
before the start of
any exercise
period
On the Business
Day prior to the
start of each
exercise period (or
in the case of a
Predictable event
occurring at any
time, prior to
issuance
Same Business
Day notification
Same Business
Day notification
Same Business
Day notification (if
received by ICSDs
before 17:00 CET)
ICSD
ICSD
Nature of
information
Defined in T&C
Based on
securities
documentation/
T&C
Complete
information
(refer to section
2.2.1.3.)
b
ICSDs’ account
holders
Actions
•Describe the corporate action event in
T&C
Step1
•Diarise info based on T&C
•Monitor timing of corporate action
events
Step 2
•Confirm deadlines and details of event
to the CD/CSP
•Forward any additional requisite
information to the CD/CSP
Step 2: Notification as defined in MOP
•If relevant, provision of any additional
information/ancillary documents for
corporate action events pursuant to
the T&C
•Forward information to ICSDs’
account holders
11 The flows described in the following sections focus on the information provision of corporate action events and do not
cover the processing of corporate action instructions.