Clearstream Banking1 is pleased to announce that effective settlement date
30 January 2017
Sberbank of Russia will become operator of Clearstream Banking’s Foreign Nominee Holder (FNH) account at the Russian Central Securities Depository, the National Settlement Depository (NSD).
Impact on customers
Clearstream Banking’s link to Russia is currently operated by Deutsche Bank Moscow. The change of operator will not impact customers’ assets which remain in CBL’s FNH account at the NSD.
Specific settlement instruction process on 27 January 2017In order to facilitate the transfer, we ask customers to enter their domestic instructions with requested settlement date of Friday 27 January 2017 by the cut-off time deadlines.All instructions with requested settlement date Friday 27 January 2017 will be processed through Deutsche Bank Moscow until the fourth settlement cycle in Russia (around 16:00 CET).We also recommend that customers inform their counterparties to send their matching instructions as soon as possible to avoid any potential cancellation.
Handling of pending trades on transfer date (27 January 2017)Instructions matched and unmatched for settlement date up to and including 27 January 2017 still pending at the end of the fourth settlement cycle in Russia (around 16:00 CET) that day will be cancelled and re-instructed by CBL Operations, with notice to the impacted customers by MT548.We remind customers that they should only send instructions with requested settlement date 30 January 2017 or later, after 21:00 CET on 27 January 2017 to avoid cancellations and ensure appropriate settlement with the new operator.Clearstream Banking customers will not need to advise their counterparty to re-instruct any instructions that have been cancelled or reversed in Clearstream Banking’s system for further settlement from 30 January 2017.
New operator details as of 30 January 2017
Sberbank of Russia
19 Vavilova Street,
Moscow 117997
Russia
Depository code: 3R
BIC Address: SABRRUMMND1
Cash Correspondent
BIC Address: SABRRUMM012
Cash and securities settlement format details
New cash instructions
When paying an amount in RUB to Sberbank of Russia Moscow, in favour of Clearstream Banking, customers should ensure that their cash correspondent bank provides the following details:SWIFT : SABRRUMM012BIK of Sberbank of Russia, Moscow – BIK 044525225Account number of Sberbank of Russia Moscow at the Central Bank of Russia - 30101810400000000225Account number of CBL (as beneficiary) at Sberbank of Russia Moscow - 30111810200000001300The CBL customer and the CBL 5-digit account number to be credited;INN code - //INN7707083893 (optional: not required by CBL but may be required by the CCB);CBL KIO code - 22288 (optional: not required by CBL but may be required by the CCB);Transaction type (VO) code and description of payment purpose (for example, funds transfer) to comply with currency control requirements.
Cash deadlines
RUB Cash deadlines will improve from 13:10 to 13:30 CET as of 30 January 2017
CBL security account details specifications remain unchanged
Procedure for the domestic counterparty
Deadline
Debt securities, CSD-eligible and NSD-eligible equities: Receipt in CBL and Delivery from CBL
Local instructions must include the NSD account and sub-account details of CBL:
Market deadline
12-digit account number: TF1304260025 and
17-digit sub-account number: 00000000000000000 (all zeroes) or
8-digit alias account number: 11057084
Instructions via the LUCH system must include CBL’s NSD depositor code:
MC0360000000
Delivering/Receiving Agent:
FOP: CBL BIC: CEDELULL
DVP: CBL BIC: CEDELULL
For settlement against payment, domestic counterparties must indicate the type of DVP settlement model to be applied at NSD. CBL uses the DVP-1 model and so domestic counterparties must always include (in SWIFT) :22F::NETT//NNET in their settlement instructions.
If the counterparty omits this field or indicates a different DVP settlement model, the trade will not match.
Note: Clearstream Banking customers do not need to add this information. Settlement against payment applies only to assets safekept in Clearstream Banking’s FNH account.
Securities instruction specifications
SWIFT
In the following tables, M=Mandatory; O=Optional; C=Conditional;
Seq=SWIFT Message (sub)sequence.
Debt securities, CSD-eligible and NSD-eligible equities
MT540
Receive Free
M
:98a:
:TRAD
//Trade date/time
M
:95P:
:PSET
//NADCRUMM
M
:95P:
:DEAG
//Counterparty’s BIC
M
:97A:
:SAFE
//Counterparty’s NSD account a
MT541
Receive Against Payment
M
:98a:
:TRAD
//Trade date/time
M
:95P:
:PSET
//NADCRUMM
M
:95P:
:DEAG
//Counterparty’s BIC
M
:97A:
:SAFE
//Counterparty’s NSD account a
M
:95P:
:PAYE
//NADCRUMM
M :19A: :SETT // RUB or USD
MT542
Deliver Free
M
:98a:
:TRAD
//Trade date/time
M
:95P:
:PSET
//NADCRUMM
M
:95P:
:REAG
//Counterparty’s BIC
M
:97A:
:SAFE
//Counterparty’s NSD account a
MT543
Deliver Against Payment
M
:98a:
:TRAD
//Trade date/time
M
:95P:
:PSET
//NADCRUMM
M
:95P:
:REAG
//Counterparty’s BIC
M
:97A:
:SAFE
//Counterparty’s NSD account a
M :19A: :SETT // RUB or USD
CreationOnline
In the following table, M=Mandatory; O=Optional; C=Conditional.
Debt securities, CSD-eligible and NSD-eligible equities
MT540
Receive Free
M
Trade Date
Trade date/time
M
Place of Settlement
BIC
M
Party
NADCRUMM
M
Delivering Agent
BIC
M
Party
Counterparty’s BIC
M
Account
Counterparty’s NSD account a
MT541
Receive Against Payment
M
Trade Date
Trade date/time
M
Place of Settlement
BIC
M
Party
NADCRUMM
M
Delivering Agent
BIC
M
Party
Counterparty’s BIC
M
Account
Counterparty’s NSD account a
M Settlement Amount RUB or USD
MT542
Deliver Free
M
Trade Date
Trade date/time
M
Place of Settlement
BIC
M
Party
NADCRUMM
M
Receiving Agent
BIC
M
Party
Counterparty’s BIC
M
Account
Counterparty’s NSD account a
MT543
Deliver Against Payment
M
Trade Date
Trade date/time
M
Place of Settlement
BIC
M
Party
NADCRUMM
M
Receiving Agent
BIC
M
Party
Counterparty’s BIC
M
Account
Counterparty’s NSD account a
M Settlement Amount RUB or USD
Settlement timings
Until 25 March 2017 CET
Instruction
Provisioning
Deadline for
receipt of
valid instruction
Expected settlement results
start
end
from
to
value
AP=Against payment FOP=Free of payment SD=Settlement date
Debt securities, CSD-eligible and NSD-eligible equities
Receipts
Free of payment
16:25
SD-1
16 :30
SD
16 :30 SD
07:00
SD
16:00
SD
SD
Against payment in RUB
21:30
SD-1
12 :30
SD
12 :30 SD
07:00
SD
18:00
SD
SD
Against payment in USD
21:30
SD-1
15:30
SD
15:30 SD
07:00
SD
18:00
SD
SD
Deliveries
Free of payment
21:30
SD-1
16 :30
SD
16 :30 SD
07:00
SD
18:00
SD
SD
Against payment in RUB
21:30
SD-1
12 :30
SD
12 :30 SD
07:00
SD
18:00
SD
SD
Against payment in USD
21:30
SD-1
15:30
SD
15:30 SD
07:00
SD
18:00
SD
SD
Further information
An updated Creation_Link_Guide_Russia will be available on our website on the effective date to reflect the changes. For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.