Income Pre-Advice Report (IPAR)

To be able to understand future income proceeds and capital repayments for all securities held in their accounts, customers receive an Income Pre-Advice Report (IPAR) covering dividend payments, interest payments and redemptions, both partial and final, that are expected in the five business days following the report on a rolling basis.

Payments not executed on the scheduled payment date are reported on IPAR for the next 30 calendar days. Reports can be retrieved selectively by:

In the IPAR, securities balances are updated twice daily. Entitled balances (on record date) are fixed after the daytime processing that reflects the end of day balances. In addition, intra-day IPARs are generated three times a day if important details about a payment (such as the rate of interest or the record date) have been updated for the related value date. These additional intra-day IPARs only include updates to existing payments and new payments created on VD-1. They are not created for updates to balances arising from any intra-day settlement activities.

Customers can access the report in both full and delta versions via CreationConnect.

The IPAR is not a confirmation of payment, but rather a projection of funds to be expected, which is subject to Clearstream’s conditions for income and redemption payments.