KAS-Web Crossborder Instruction Guide
KAS-Web Crossborder Instruction Guide Version: April 2018 KAS BANK N.V.
Introduction Welcome to the KAS-Web Crossborder Instruction Guide (KCIG). This Guide will replace the Crossborder Form which is currently used for instructions from one market to another. In order to continue to guarantee an efficient settlement process, KAS BANK has decided to change the procedure of instructing this type of transfer. KAS BANK believes that the current manual process is error-sensitive and should therefore be updated. The table of contents provides an overview of the most common Crossborder transfers. (If an example is missing please contact your service manager.) The overview is followed by a user manual with specific details how to complete your Crossborder instructions correctly. Moving forward we will continue to inform you about developments in relation to KCIG, either with an update of this Instruction Guide or via our regular Service Updates. If you require further assistance or more information, please contact your Service Manager at KAS BANK. Disclaimer: Although the information in this information guide has been put together with the utmost care and, in KAS BANK's opinion, accurately presents the state of affairs at the time of publication, KAS BANK cannot guarantee that this information is and/or will remain accurate and complete. KAS BANK therefore accepts no liability for damage or loss resulting from the use of, reliance on or actions or omissions in response to the information in this information guide. KCIG version April 2018 3
Table of Contents User Manual... 7 General Example... 7 Euroclear (ESES) Market Specifics... 10 Asia... 11 HK CBL... 11 Austria... 12 OEKB CBF... 12 OEKB ESES NL... 12 Canada... 13 CA CBL... 13 CA DTC (Only applicable for the Canadian side of the Crossborder)... 13 CA EOC... 14 Clearstream Banking Frankfurt (Germany)... 15 CBF AT... 15 CBF CBL... 15 CBF CBL (LU1250154413)... 16 CBF DTC... 16 CBF DK... 17 CBF EOC... 18 CBF ESES BE/FR/NL (Domestic)... 18 CBF ESES BE/FR/NL (Foreign)... 19 CBF FI... 19 CBF IT... 20 CBF SIS... 20 Clearstream Banking Luxembourg... 21 CBL CBF... 21 CBL CREST... 21 CBL DTC... 22 CBL EOC... 23 CBL ESES BE/FR/NL... 23 CBL HK... 24 CBL IT... 24 CBL SIS... 25 Euroclear markets (Domestic ISIN)... 26 ESES BE/FR/NL AT... 26 ESES BE/FR/NL CBF... 27 ESES BE/FR/NL CBL (INTRA CSD)... 27 ESES BE/FR/NL CBL (CROSS CSD)... 28 ESES BE/FR/NL CREST... 28 KCIG version April 2018 4
ESES BE/FR/NL EOC... 29 ESES BE/FR/NL IT... 29 ESES BE/FR/NL SIS... 30 Euroclear markets (Foreign ISIN)... 31 ESES BE/FR/NL AT... 31 ESES BE/FR/NL CBF... 32 ESES BE/FR/NL CBL... 32 ESES BE/FR/NL CBL (home market DEU)... 33 ESES BE/FR/NL CREST... 33 ESES BE/FR/NL EOC (other isin)... 35 ESES BE/FR/NL EOC (DE isin)... 35 ESES BE/FR/NL IT... 36 ESES BE/FR/NL SIS... 36 Euroclear Bank... 38 EOC CBF... 38 EOC CBL... 38 EOC DTC (Equity and other)... 39 EOC FEDWIRE (Treasury Bonds)... 39 EOC CREST... 40 EOC ESES... 41 EOC FI... 41 EOC IT... 42 EOC NBB... 42 EOC SIS... 43 Italy (T2S)... 43 BCI CBL... 43 BCI CBF... 44 BCI EOC... 44 BCI CREST... 45 BCI ESES BE/FR/NL... 46 BCI SIS... 46 Nordics... 47 DK CBF... 47 DK SE... 47 FI CBF... 48 FI EOC... 48 FI SE... 49 SE CBL... 49 SE DK... 50 SE EOC... 50 KCIG version April 2018 5
SE FI... 51 SE VPS NO... 51 VPS NO CREST... 52 VPS NO SE... 53 Portugal... 54 PT CBL... 54 PT EOC (bond)... 54 PT EOC (share)... 55 Switzerland... 55 SIS CBF... 55 SIS CBL... 56 SIS CREST... 56 SIS DTC... 58 SIS EOC... 58 SIS ESES BE/FR/NL... 59 SIS IT... 59 United Kingdom... 60 Stamp... 60 CREST CBL... 61 CREST DTC... 62 CREST ESES... 63 CREST EOC... 64 CREST IT... 65 CREST SIS... 65 CREST VPS NO (ISIN CA9506771042)... 66 CREST VPS NO (ISIN GB0000663038)... 66 United States of America... 67 DTC CBF... 67 DTC Canada (Only applicable for the US side of the Crossborder)... 67 DTC CBL... 68 DTC CREST... 69 DTC EOC (Equity and other)... 69 Fedwire via BONY EOC (Treasury Bonds)... 70 Fedwire via JP Morgan Chase EOC (Treasury Bonds)... 70 DTC SIS... 71 KCIG version April 2018 6
User Manual Whereas in the past KAS BANK s Crossborder form needed to be completed manually, from now on KAS-Web will be used for this type of transfer. As shares are delivered from one market and received in another, it is mandatory to instruct both sides of the transfer. So this means a Delivery Free of Payment (DFP) and a Receive Free of Payment (RFP). This chapter briefly describes how to work with the KCIG by means of a general example (transfer from Clearstream Banking Frankfurt to Euroclear Bank) demonstrating which fields are mandatory in the delivering/receiving side. At the end of this chapter some additional specific information regarding the Euroclear markets (ESES BE/FR/NL) is described. Please take a careful look before instructing transfers on these markets. General Example This general example of a Crossborder instruction via KAS-Web describes a transfer from Clearstream Banking Frankfurt (CBF) to Euroclear Bank (EOC) by means of a Delivery Free of Payment (DFP) and a Receive Free of Payment (RFP). Please note that the following details are fictive and only used as an example. Clearstream Banking Frankfurt (CBF) First go to chapter Clearstream Banking Frankfurt (Germany) > subsection CBF EOC. In this subsection you will only find the details of the counterparty. This means your SSI within Euroclear Bank. Please be advised that the fields (trade details), stated in the print screen below, are mandatory to instruct one side (DFP) of the transfer. Please note that the following details are fictive and only used as an example. This info is not described in the Guide because it differs per Crossborder. Trade details The print screen below shows the counterparty details (SSI). These details are described, per Crossborder transfer, in this instruction guide. KCIG version April 2018 7
You need to verify the input via the CHECK button. This needs to be repeated till: Check Successful: Add / Modify Record is shown. Please instruct via the ADD button. After validating by another authorized KAS-Web user the instruction is sent to KAS BANK and ready to process. CBF EOC Euroclear Bank (EOC) First go to the chapter Euroclear Bank > subsection EOC CBF. In this subsection you will only find the details of the counterparty. This means your SSI within Clearstream Banking Frankfurt. Please be advised that the fields (trade details), stated in the print screen below, are mandatory to instruct the other side (RFP) of the transfer. Please note that the following details are fictive and only used as an example. This info is not described in the Guide because it differs per Crossborder. KCIG version April 2018 8
Trade details The print screen below shows the counterparty details (SSI). These details are described, per Crossborder transfer, in this instruction guide. You need to verify the input via the CHECK button. This needs to be repeated till: Check Successful: Add / Modify Record is shown. Please instruct via the ADD button. After validating by another KAS-Web user the instruction is sent to KAS BANK and ready to process. EOC CBF If both sides are instructed, the transfer can be processed by KAS BANK. The references of these instructions are visible in KAS-Web. KCIG version April 2018 9
Euroclear (ESES) Market Specifics In the Euroclear markets (Belgium, Netherlands and France) the SSI of the counterparty can be different depending whether the ISIN code is issued by ESES (domestic) or not (foreign). Every month ESES will publish an updated securities list. This list will be available on the KAS-Web documentation so you are able verify the issuer CSD. KAS BANK can t be held responsible for the content of this securities list! Instruction differences In this instruction guide there is a clear distinction between the domestic and foreign ISIN code examples. Please make sure that the correct chapter/subsection is chosen before instructing! In certain ESES subsections you will find multiple markets in the subject (e.g. ESES BE/FR/NL CBL). If the market NL is shown in a certain ESES subsection but BE is required. Please choose the applicable format per market as shown below. - Settlement Location (Domestic and Foreign) - Settl. Location C Party (only Domestic) - Settl. Institute PSET (only Domestic) In case of a Foreign ISIN code you only have to amend the Settlement location applicable per market. Domestic Euroclear Belgium Euroclear France Euroclear Netherlands Foreign KCIG version April 2018 10
Asia HK CBL KCIG version April 2018 11
Austria OEKB CBF Please note: Counterparty BIC and Account Number are variable OEKB ESES NL Please note: Counterparty/Custodian details are variable. Please note: For BE and FR please amend the Settl. Location C Party and Settl. Institute PSET. KCIG version April 2018 12
Canada CA CBL CA DTC (Only applicable for the Canadian side of the Crossborder) Please note: US account (213037) is variable. Please note: Canadian DFP Example KCIG version April 2018 13
Please note: US account (213037) is variable. Please note: Canadian RFP Example CA EOC KCIG version April 2018 14
Clearstream Banking Frankfurt (Germany) CBF AT Please note: Counterparty and Account Number are variable. CBF CBL Please note: Counterparty is variable. KCIG version April 2018 15
CBF CBL (LU1250154413) CBF DTC Please note: Custodian/Counterparty details are variable. KCIG version April 2018 16
CBF DK Please note: Custodian/Counterparty details are variable. KCIG version April 2018 17
CBF EOC Please note: Counterparty is variable. CBF ESES BE/FR/NL (Domestic) Please note: Counterparty is variable. Please note: BIC Custodian for Belgium: CIKBBEBBXXX / France: SICVFRPPXXX. KCIG version April 2018 18
CBF ESES BE/FR/NL (Foreign) Please note: Counterparty is variable. Please note: BIC Custodian for Belgium: CIKBBEBBXXX / France: SICVFRPPXXX. Please note: For BE and FR please amend the Settl. Location C Party and Settl. Institute PSET. CBF FI Please note: Custodian/Counterparty details are variable. KCIG version April 2018 19
CBF IT Please note: Counterparty is variable CBF SIS Please note: Counterparty is variable. KCIG version April 2018 20
Clearstream Banking Luxembourg CBL CBF Please note: Counterparty is variable. CBL CREST KCIG version April 2018 21
Stamp CBL DTC Please note: Account number is variable. KCIG version April 2018 22
CBL EOC Please note: Participant number is variable. CBL ESES BE/FR/NL Please note: Counterparty and Custodian are variable. Please note: For BE and FR please amend the Settl. Location C Party and Settl. Institute PSET. KCIG version April 2018 23
CBL HK Please Note: Account number is variable. CBL IT Please note: Custodian/Counterparty details are variable. KCIG version April 2018 24
CBL SIS Please note: Participant number is variable. KCIG version April 2018 25
Euroclear markets (Domestic ISIN) Crossborder instructions with matching ESES BE/FR/NL AT Please note: Counterparty is variable. Please note: For BE and FR please amend the Settlement Location. KCIG version April 2018 26
ESES BE/FR/NL CBF Please note: Counterparty is variable. Please note: For BE and FR please amend the Settlement Location. ESES BE/FR/NL CBL (INTRA CSD) Please note: Counterparty is variable. Please note: For BE and FR please amend the Settlement Location, Settl. Location C Party and Settl. Institute PSET. KCIG version April 2018 27
ESES BE/FR/NL CBL (CROSS CSD) Please note: For BE and FR please amend the Settlement Location, Settl. Location C Party and Settl. Institute PSET. ESES BE/FR/NL CREST Please note: Account number is variable. Please note: For BE and FR please amend the Settlement Location, Settl. Location C Party and Settl. Institute PSET. KCIG version April 2018 28
ESES BE/FR/NL EOC Please note: Counterparty is variable. Please note: For BE and FR please amend the Settlement Location, Settl. Location C Party and Settl. Institute PSET. ESES BE/FR/NL IT Please note: Custodian/Counterparty details are variable. Please note: For BE and FR please amend the Settlement Location. KCIG version April 2018 29
ESES BE/FR/NL SIS Please note: For BE and FR please amend the Settlement Location, Settl. Location C Party and Settl. Institute PSET. KCIG version April 2018 30
Euroclear markets (Foreign ISIN) Crossborder instructions without matching ESES BE/FR/NL AT Please note: Counterparty is variable. Please note: For BE and FR please amend the settlement location. KCIG version April 2018 31
ESES BE/FR/NL CBF Please note: Counterparty BIC is variable. Please note: For BE and FR please amend the Settlement Location. ESES BE/FR/NL CBL Please note: Participant number is variable. Please note: For BE and FR please amend the Settlement Location. KCIG version April 2018 32
ESES BE/FR/NL CBL (home market DEU) Please note: For BE and NL please amend the Settlement Location. ESES BE/FR/NL CREST Please note: For BE and FR please amend the Settlement Location. Please note: German ishares will be transferred via Switzerland so an additional manual fee will be charged. KCIG version April 2018 33
Stamp KCIG version April 2018 34
ESES BE/FR/NL EOC (other isin) Please note: Participant number is variable. Please note: For BE and FR please amend the Settlement Location. ESES BE/FR/NL EOC (DE isin) Please note: Participant number is variable. Please note: For BE and NL please amend the Settlement Location. KCIG version April 2018 35
ESES BE/FR/NL IT Please note: Counterparty/Custodian details are variable. Please note: For BE and FR please amend the Settlement Location. ESES BE/FR/NL SIS Please note: Format is similar to the Domestic ISIN code Always instruct MATCH Please note: For BE and FR please amend the Settlement Location, Settl. Location C Party and Settl. Institute PSET. KCIG version April 2018 36
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Euroclear Bank EOC CBF Please note: Counterparty/Custodian details are variable. EOC CBL Please note: Participant number is variable. KCIG version April 2018 38
EOC DTC (Equity and other) Please note: Account number is variable. EOC FEDWIRE (Treasury Bonds) Please note: Participant numbers on both levels are variable. KCIG version April 2018 39
EOC CREST Please note: Counterparty/Custodian details are variable. KCIG version April 2018 40
EOC ESES Please note: Custodian en Counterparty are variable. Please note: For BE and FR please amend the Settl. Location C Party and Settl. Institute PSET. Please note: Participant number is variable EOC FI KCIG version April 2018 41
Please note: Counterparty is variable. EOC IT Please note: Counterparty/Custodian details are variable. EOC NBB KCIG version April 2018 42
Please note: The above stated BIC is mentioned as an example. Please instruct the correct BIC from a NBB participant. EOC SIS Please note: Counterparty/Custodian details are variable. Italy (T2S) BCI CBL Please note: Participant number is variable. KCIG version April 2018 43
BCI CBF Please note: Counterparty is variable. BCI EOC Please note: Participant number is variable KCIG version April 2018 44
BCI CREST Please note: Counterparty/Custodian details are variable. Stamp KCIG version April 2018 45
BCI ESES BE/FR/NL Please note: Counterparty is variable. Please note: For BE and FR please amend the Settl. Location C Party and Settl. Institute PSET. BCI SIS KCIG version April 2018 46
Nordics DK CBF Please note: Account number is variable. DK SE KCIG version April 2018 47
FI CBF Please note: Counterparty is variable. FI EOC Please note: Counterparty is variable. KCIG version April 2018 48
FI SE Please note: Counterparty is variable. SE CBL Please note: Counterparty is variable KCIG version April 2018 49
SE DK SE EOC KCIG version April 2018 50
SE FI Please note: Counterparty is variable. SE VPS NO KCIG version April 2018 51
VPS NO CREST Please note: Counterparty/Custodian details are variable. Stamp KCIG version April 2018 52
VPS NO SE KCIG version April 2018 53
Portugal PT CBL Please note: Counterparty is variable. PT EOC (bond) KCIG version April 2018 54
PT EOC (share) Switzerland SIS CBF KCIG version April 2018 55
Please note: Counterparty is variable. SIS CBL Please note: Participant number is variable. SIS CREST KCIG version April 2018 56
Stamp KCIG version April 2018 57
SIS DTC Please note: Counterparty/Custodian details are variable. SIS EOC Please note: Counterparty Participant Number and BIC are variable. KCIG version April 2018 58
SIS ESES BE/FR/NL Please note: Counterparty is variable. Please note: For BE and FR please amend the Settl. Location C Party and Settl. Institute PSET. SIS IT Please note: Counterparty/Custodian details are variable. KCIG version April 2018 59
United Kingdom Stamp: There is no change of beneficial owner so please flag the following stamp code. British traded instruments Irish traded instruments Please note: If shares are being transferred out of CREST and eligible for Stamp you will be charged for Stamp Duty (SD) or Stamp Duty Reserve Tax (SDRT) at 1.5 per cent. 1 1 http://www.hmrc.gov.uk/manuals/stsmanual/stsm056040.htm KCIG version April 2018 60
CREST CBL Stamp eligible Stamp exempt KCIG version April 2018 61
Irish Equities Please note: Choose the correct Stamp Status Code CREST DTC Please note: Account number is variable. KCIG version April 2018 62
CREST ESES Stamp eligible Stamp exempt KCIG version April 2018 63
CREST EOC Gilts_Treasury Notes Please note: Account number is variable Equities Please note: Account number is variable KCIG version April 2018 64
CREST IT Please note: Counterparty is variable. CREST SIS KCIG version April 2018 65
CREST VPS NO (ISIN CA9506771042) Please note: Counterparty is variable. CREST VPS NO (ISIN GB0000663038) Please note: Counterparty is variable. KCIG version April 2018 66
United States of America DTC CBF Please note: German account (7619) is variable. DTC Canada (Only applicable for the US side of the Crossborder) Please note: Canadian account (080001410003) is variable. Please note: US DFP example KCIG version April 2018 67
Please note: Canadian account (080001410003) is variable. Please note: US RFP example DTC CBL Please note: CBL account number 67449 is variable KCIG version April 2018 68
DTC CREST DTC EOC (Equity and other) Please note: EOC account number 90023 is variable KCIG version April 2018 69
Fedwire via BONY EOC (Treasury Bonds) Please note: EOC account number 90023 is variable Fedwire via JP Morgan Chase EOC (Treasury Bonds) Please note: EOC account number 90023 is variable KCIG version April 2018 70
DTC SIS Please note: Swiss account (NL100183) is variable. KCIG version April 2018 71