Asset services – Iceland
Income collection
Service offered | Remarks |
Notification to clients | |
Standard Asset Servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 6 “Asset servicing” of the Client Handbook. See Connectivity manuals. |
Payment of proceeds | |
Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the client designated cash account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | |
Corporate actions
Service offered | Remarks |
Notification to clients | |
Standard reporting | On voluntary and standard mandatory events, LuxCSD informs clients, on an “as and if received” basis, of unscheduled securities events occurring on account holdings. |
Instruction to LuxCSD | |
Clients may instruct LuxCSD to carry out options foreseen in the terms and conditions of the underlying type of security. These options include, but are not limited to, put options, conversions, exercises of warrants, exchanges etc. | Clients are requested to instruct within the deadlines and/or procedures specific to each type of event. In the absence of instructions from its client, LuxCSD will apply a “default option”, which may differ for each type of event. |
Proxy voting procedures
Proxy voting services are not available in LuxCSD for this market.
Entitlement compensation rules
Please refer to the Entitlement compensation rules - Iceland.