Issuance and distribution hub
LuxCSD offers a comprehensive range of issuance and distribution services for securities in bearer, registered or dematerialised forms, covering a wide range of instruments, such as debt, equities and structured products. These may be immobilised in LuxCSD enabling settlement in book entry form.
Issuance and primary market distribution is either free of payment (FoP) or versus payment (DvP).
Eligible currencies
LuxCSD offers issuance and distribution services for T2S-eligible securities in EUR and issuance is supported by DvP in central bank money.
The following payment details apply to the issuers' or their agent's payment of custody proceeds on LuxCSD-issued securities to LuxCSD:
- EUR custody proceeds paid on T2S eligible securities issued through LuxCSD: All such payments must be made exclusively to LuxCSD’s T2S Dedicated Cash Account (DCA) with the Banque centrale du Luxembourg – LuxCSD T2S DCA details are CLUEURLUXCLULLXXX01.
This may be done via TARGET Services ESMIG Portal (T2 RTGS GUI or T2 CLM GUI) or by sending a camt.050 xml message to T2. The camt.050 xml message must be formatted following the guidelines provided by the ECB.
T2 UDFS for ECB’s T2-T2S consolidation project provides more information about camt.050:
RTGS UDF 3.0 (section “12.2.19 LiquidityCreditTransfer (camt.050)”)
CLM UDFS 3.02 (section “12.2.12 LiquidityCreditTransfer (camt.050)”) - USD custody proceeds: All such payments must be made exclusively to CBL's account with JPMorgan Chase Bank, New York – BIC CHASUS33XXX, account 001-1-573714.
- GBP custody proceeds: All such payments must be made exclusively to CBL’s account with Barclays Bank PLC, London – BIC BARCGB22, account GB29 BARC 2032 5350 4088 59.
- CHF custody proceeds: All such payments must be made exclusively to CBL’s account with UBS AG, Zürich – BIC UBSWCHZH80A, account
023 00000060768050000Y. - HKD custody proceeds: All such payments must be made exclusively to CBL’s account with Standard Chartered Bank Hong Kong – BIC SCBLHKHH, account 44709447240.
The following documents which are attached below will support Issuers and Issuing Agents throughout the issuance process with LuxCSD.
Operational arrangements
The LuxCSD Operational Arrangements provide Issuers and their appointed Agents with LuxCSD contractual and operational requirements for an issue to become and remain eligible in LuxCSD.
Security issuance checklists
The checklists for issuance under programme and stand alone issuance compiled in accordance with the recommendations by the International Securities Market Advisory Group (ISMAG) may assist the Issuer (Agent) in evaluating the completeness of securities information thereby allowing for a more timely and accurate servicing of the securities.
Issuance Effectuation Templates for Bearer and Registered Securities form
The effectuation and disposal authorisations must be signed by issuers when the Global Note is delivered electronically to the LuxCSD vaults operator, in order to permit effectuation of the Global Note thereby creating a valid issue.
Cancellation for Dematerialised Securities form
The effectuation and disposal authorisations do not apply for dematerialised securities because no Global Note is issued or delivered. However, a cancellation message via Swift is sent by the Issuer's Agent when the security is due for cancellation and removal from LuxCSD's issuance account. Please refer to the LuxCSD Swift guide.
Communication Guides
To provide timely and accurate processing of securities LuxCSD requires the use of standardised communications following the ISO/SMPG standards as defined in the respective part of the LuxCSD Swift guide for Agents:
- Part 1 – Settlement and Reconciliation messages (MT53x, MT54x, MT599)
- Part 2 – Corporate Action messages (MT56x)
- Part 3 – New Issue messages (MT599)