12/6/2015

Argentina:Transferofsecurities

Clearstream

Products and Services

Argentina: Transfer of securities

Reference Number
A15118

12.06.2015
Entities
CBL

Effective
19 June 2015
1

Further to our announcement A15105, dated 2 June 2015, Clearstream Banking

will use its direct account at the Argentinian Central Securities Depository, Caja
de Valores S.A. (CVSA) to safekeep and service all its Argentinian securities,
which were previously held at Citibank Argentina.

Products and Services

Custody
Market
Argentina

New depository details

CAJA DE VALORES S.A.
25 De Mayo 362
C1002ABH
Buenos Aires
Argentina
Depository code: 3A
BIC Address: CAVLARBA
Cash
Cash services for Argentine Pesos will continue to be provided by Citibank
Argentina N.A., Buenos Aires, and the account number remains unchanged.
Reminder of Cash correspondent details
Currency:

Argentine Peso (ARS)

CCB name:

CITIBANK N.A., BUENOS AIRES

CBL account:

5806635016

SWIFT address:

CITIUS33ARR

Impact on customers
Cash
Cash deadlines will improve from 19:00 to 19:30 CET.
Clearstream Banking repatriation service offered for income proceeds will be
reinstated as of 19 June 2015. The existing procedure for Argentine Pesos (ARS)
to be converted to United States Dollars (USD), which is available for Argentine
non-residents, remains in place. Please refer to the section Foreign exchange exception to repatriation limit in the Creation Link Guide - Argentina.
Cash instruction formats will remain unchanged. Please refer to the Creation
Link Guide - Argentina for BCRA mandatory requirements for inclusion in cash
instructions (SWIFT MT103 and MT202).
Settlement
New procedures for domestic counterparties
Clearstream Bankings counterparty in CVSA shall instruct CVSA as follows:
In order to

Clearstream Banking

http://www.clearstream.com/clearstreamen/productsandservices/a15118/74932

Number to indicate

1/5

12/6/2015

Argentina:Transferofsecurities
account details at CVSA
receive from/deliver toa

Clearstream Banking
depositante account at
CVSA

8500

by order of/in favour ofa

The comitente subaccount of Clearstream

Banking

0004

a. As applicable.

New Instruction specifications Creation via SWIFT and

CreationDirect
CreationOnline
In the following tables, M=Mandatory; O=Optional; C=Conditional.
Book-entry transactions, counterparties in CVSA
Receive Free
M

Trade Date

Deal Price

Place of Settlement

BIC

Party

CAVLARBAXXX - Argentina CVSA

Delivering Agent

Caja De Valores

Party

Delivering Agent's CVSA depositante account (no

leading zeroes)

Account

counterparty's comitente sub-account in CVSA

Seller

BIC

Party

counterpartys BIC

Seller

Name and Address (if BIC does not exist)

Party

counterpartys name

Account

counterparty's comitente sub-account in CVSA if not

provided with Delivering Agent

or

Deliver Free
M

Trade Date

Deal Price

Place of Settlement

BIC

Party

CAVLARBAXXX - Argentina CVSA

Receiving Agent

Caja De Valores

Party

Receiving Agents CVSA depositante account (no

leading zeroes)

Account

counterparty's comitente sub-account in CVSA

Buyer

BIC

Party

counterpartys BIC

Buyer

Name and Address (if BIC does not exist)

Party

counterpartys name

Account

counterpartys comitente sub-account in CVSA if not

provided with Receiving Agent

or

SWIFT
In the following tables, M=Mandatory; O=Optional; C=Conditional;
Seq=SWIFT Message (sub)sequence.
Book-entry transactions, counterparties in CVSA
http://www.clearstream.com/clearstreamen/productsandservices/a15118/74932

2/5

12/6/2015

Argentina:Transferofsecurities
MT540

Receive Free

Seq

:98a:

:TRAD

//Trade date/time

:90a:

:DEAL

//Deal price

:95P:

:PSET

//CAVLARBA[XXX]

:95R:

:DEAG

/CAVL/xxxx (Delivering agents CVSA depositante

account)

:97A:

:SAFE

//Counterpartys comitente sub-account in CVSA

:95P:

:SELL

//Counterparty's BIC, if different from DEAG

or

:95Q:

:SELL

//Counterpartys name, if different from DEAG (if

BIC does not exist)

:97A:

:SAFE

//Counterpartys comitente sub-account in CVSA if

not provided with DEAG

MT542

Deliver Free

:98a:

:TRAD

//Trade date/time

:90a:

:DEAL

//Deal price

:95P:

:PSET

//CAVLARBA[XXX]

:95R:

:REAG

/CAVL/xxxx (Receiving Agents CVSA depositante

account)

:97A:

:SAFE

//Counterparty's comitente sub-account in CVSA

:95P:

:BUYR

//Counterparty's BIC, if different from REAG

or

:95Q:

:BUYR

//Counterpartys name, if different from REAG (if

BIC does not exist)

:97A:

:SAFE

//Counterpartys comitente sub-account in CVSA if

not provided with REAG

E1

Seq
B

E1

Note: The Argentine market does not use delivery versus payment principles.
CVSA transfers the securities free of payment. Cash is to be moved separately.
Settlement timings remain unchanged and are as follows
29 March 2015 - 24 October 2015 CET
Instruction

Provisioning

start

end

Deadline
for receipt
of valid
instruction

Expected
settlement
results
from

to

FOP=Free of payment SD=Settlement date

Receipts

FOP

21:30
SD-1

20:35
SD

20:00
SD

14:00
SD

17:00
SD+1

Deliveries

FOP

21:30
SD-1

20:35
SD

20:00

14:00
SD

17:00
SD+

SDb

29 March 2015 - 24 October 2015 Buenos Aires time

Instruction

Provisioning

start

Deadline for
receipt of valid
instruction
end

Expected
settlement
results
from

to

FOP=Free of payment SD=Settlement date

Receipts

FOP

16:30
SD-1

15:00
SD

15:00
SD

09:00
SD

12:00
SD+1

Deliveries

FOP

16:30
SD-1

15:00
SD

15:00
SD

09:00
SD

12:00
SD+1

Customer guidelines for the Cutover

http://www.clearstream.com/clearstreamen/productsandservices/a15118/74932

3/5

12/6/2015

Argentina:Transferofsecurities

The transfer of holdings from Citi Argentina to CVSA will start on Thursday 18
June 2015 based on 18 June 2015 position, and will be effective on Friday 19
June 2015.
All instructions with requested settlement date until 18 June 2015 will be
processed by Citi Argentina.
All instructions with requested settlement date from 19 June 2015 onwards, will
be processed by CVSA.
Customers must advise their counterparties accordingly.
Specific settlement instruction deadline on 18 June 2015
In order to facilitate the transfer, we ask customers to enter their domestic
instructions with requested settlement date on 18 June 2015 by 17:00 CET at
the latest. We also recommend customers to inform their counterparties to
send their matching instructions as soon as possible to avoid any potential
cancellation.
Instruction

Provisioning

start

end

Deadline for
receipt of
valid
instruction

Expected
settlement
results

Value

from

to

FOP=Free of payment SD=Settlement date

Receipts

FOP

21:30
SD-1

17:00
SD

17:00
SD

14:00
SD

17:00
SD+1

SD

Deliveries

FOP

21:30
SD-1

17:00
SD

17:00
SD

14:00
SD

17:00
SD+1

SD

Handling of pending trades on transfer date (18 June 2015)

Instructions matched for settlement date up to and including 18 June 2015
still pending at the last settlement cycle that day will remain pending until
settled, or will be reversed by Citi Argentina at the end of the day. Once these
instructions will be settled (receipts) or reversed (deliveries), the resulting
new security positions will be subject to a separate transfer by Clearstream
Banking to the new depository, CVSA.
Unmatched instructions provisioned (or not) before transfer on 18 June 2015
will be cancelled by Clearstream Banking from 17:00 CET onwards, with
notice to the impacted customers (SWIFT MT548 confirmation of
cancellation).
Customers will need to re-instruct any instructions that have been cancelled
or reversed with the new depository details of CVSA for further settlement
from 19 June.
We remind our customers that they should only send instructions with
requested settlement date on or after 19 June 2015 as from 21:00 CET on 18
June 2015 to avoid cancellations and ensure appropriate settlement with the
new depository.
On the transfer date 18 June 2015, the posting of settlement confirmation for
value date 18 June 2015 may face delays.

Further information
An updated Creation Link Guide - Argentina will be available on our website on
the effective date to reflect the changes.
For further information, customers may contact Clearstream Banking Client
Services or their Relationship Officer.
--------------------------------------------1. Clearstream Banking refers to Clearstream Banking S.A., registered office at
42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the
Luxembourg Trade and Companies Register under number B-9248.
http://www.clearstream.com/clearstreamen/productsandservices/a15118/74932

4/5

12/6/2015

Argentina:Transferofsecurities

http://www.clearstream.com/clearstreamen/productsandservices/a15118/74932

5/5