Asset servicing – Finland
Income collection
Debt securities
| Service offered | Remarks |
| Notification to clients | |
Standard asset servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Client Handbook. See Connectivity manuals on the Clearstream website. |
| 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's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Client Handbook. |
Equities
| Service offered | Remarks |
| Notification to clients | |
Standard asset servicing reporting via Swift MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Client Handbook. See Connectivity manuals on the Clearstream website. |
| 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's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Client Handbook. |
Corporate actions
| Service offered | Remarks |
| Notification to clients | |
Standard reporting. | On voluntary and mandatory events, CBL informs clients, on an “as and if received” basis, of unscheduled securities events occurring on account holdings. |
| Instruction to CBL | |
Clients may instruct CBL 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, detachment of warrants 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, CBL will apply a “default option”, which may differ for each type of event. In addition, CBL informs clients, on an “as and if received” basis, of unscheduled securities events occurring on account holdings, such as rights offers, reinvestment options, exchange offers, purchase offers, mergers etc. |
Proxy voting procedures
Proxy voting services are available in CBL for this market. Clients that want to vote at general meetings (physically or by proxy) must instruct CBL to register their shares in the name of the beneficial owner prior to the general meeting's record date as defined by the respective company.
Since the implementation of the Shareholders Right Directive, split and partial voting are in practice allowed.
For details about the proxy voting services offered by CBL, please refer to the CBL Client Handbook and, for the market specific practices (including market requirements linked to the re-registration and the related specific voting procedures in Finland), please refer to the Market Profile - Finland.
Transaction management
Please refer to the Transactions Management Rules - Finland.