Welcome to Clearstream. Part of Deutsche Börse Group

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Income Processing

As issuance levels in the bond markets continue to grow, the volume of income events is rising accordingly. At the same time product complexity is ever increasing, driven by innovation on the trading layer.

Clearstream is keeping pace with these trends and continuously meets customer expectations by delivering incremental improvements in the quality, accuracy and timeliness of income payments.

Key Benefits

Increase automation

  • Reduce operational risk by using standard formats and increasing straight-through processing (STP).

Improve quality and timeliness

  • Receive same day as market rates and payments

  • Reduce payment reversals due to rigorous data management and data comparison with sub-custodians.

Comprehensive tax services

  • Obtain relief at source and timely tax refunds whenever possible.

Get individualised support

  • Obtain guidance on managing complex events

  • Receive assistance in optimising connectivity profiles helping you achieve income efficiency

  • Maximise benefit from performance management tools.

Key Features

Superior standardisation and greater automation

  • Full adherence to the SWIFT ISO 15022 standards and use of the full lifecycle of income processing message types (MT56x)

  • Dedicated event types, avoiding the use of the general event message type

  • Systematic and accurate application of available SWIFT fields.

Income preparation

  • Complete and high quality securities reference data ensures timely release of notifications

  • Market terms and conditions query allows customers to obtain prospectus and legal documents of securities.

Income notification

  • Notifications sent by CreationOnline or SWIFT MT564 messages for floating rate settings, dividend payments, early and partial redemptions

  • The Income Pre-Advice Report allows a five-day forecast on future income proceeds and capital repayments for all securities held

  • Income notifications available even when customers do not hold the underlying securities.

Income execution

  • Income and redemption payments paid in the original payment currency and credited at the start of the payment date

  • Automatic foreign exchange service allowing payments to be credited in the eligible currency of choice

  • Automatic cash compensation services for pending debt and equity transactions between two Clearstream customers

  • Issuers below investment grade (credit rating of BBB or lower) may have expected payments flagged as payable Upon Receipt of Funds (URF). For these payments, customers receive three categories of URF information based on the payment history.

Leading customer support

  • Comprehensive customer service around-the-clock, covering markets worldwide

  • Securities reference data available on www.clearstream.com (Premium Users) and on CreationOnline

  • Easy access to historical data and income processing monitoring via CreationOnline

  • Income specific eLearning modules available on www.clearstream.com (Premium Users).

Attachments
Title Type Size
Product Information - Income Services (PDF version)pdf65 KB