LuxCSD launching Investor-CSD solution in 2017-18 - update
Note: This announcement originally published on 22 September 2017 has been updated following the change of migration date for the ESES markets. Changes are highlighted.
LuxCSD informs customers about the launch of its Investor-CSD solution starting on
9 October 2017
The new service is intended to bring multiple benefits to our customers and may require system changes, especially in the areas of asset servicing and connectivity. We provide below a high-level overview of the main benefits that these product enhancements will deliver. Additionally, LuxCSD provides information about functional service details and migration procedures.
As part of the activation of its Investor-CSD solution, LuxCSD will disable access to the respective T2S markets in commercial bank money (CoBM) through 43xxx series accounts. Further details concerning the deactivation are published in a separate announcement, L17102.
New Investor-CSD solution for T2S-eligible securities
Starting in Q4 2017, LuxCSD will launch its Investor-CSD solution. This new product will provide customers with a single point of access – in central bank money (CeBM) – to all T2S markets (with comprehensive instruments coverage).
LuxCSD will activate its Investor-CSD solution on a market-by-market basis, starting with access to the German market on 9 October 2017. The following table details the rollout for the markets currently planned to be activated:
Market | Investor-CSD availabilitya |
Germany (CBF) | 9 October 2017b |
| Italy (Monte Titoli) | 26 March 2018 |
Belgium, France, Netherlands (ESES) | 9 April 2018 |
a. LuxCSD will announce availability for further markets in due course
b. Automation of market claims and transformations will be available from 20 November 2017 with further enhancements planned from 12 February 2018.
Preparing for activation
To ensure a smooth transition to the new service model, LuxCSD will not accept new activity in the respective markets as from 1 October 2017.
In order to help customers to prepare for the activation, LuxCSD will publish Functional Specifications describing the future Investor-CSD service. Successive releases of the Functional Specifications will be published, documenting market specifics for each market. The first Functional Specifications Release describing the market specific details concerning Settlement, Asset Servicing and Cash Management for the German market is attached below.
We would like to remind customers that technical specifications related to SWIFT are available in the Xact via SWIFT User Guide, available on the LuxCSD website.
Customer benefits at a glance
Harmonised service level across Issuer- and Investor-CSD solution
- A single gateway to access and settle all T2S markets, in Central Bank Money (CeBM); harmonised settlement processing, aligned with T2S requirements.
- Full market coverage within each country in the T2S zone.
- Cash pooling in CeBM.
- Asset servicing (income, corporate actions, tax, proxy voting) with full events scope coverage and lifecycle management, harmonised with international standards, provided in partnership with leading local agents; straight-through processing for best deadlines close to the market; full adherence to SMPG/ NMPG guidelines; reporting upgrades; enhanced transaction management (market claims, transformations, buyer protection).
New comprehensive connectivity solutions via the single user interface (Xact Web Portal), Xact File Transfer and Xact via SWIFT.
Further information
For further information, customers may contact LuxCSD Client Services or their Relationship Officer.