T2S Cash Coordinates – User Guide
Contents
1. T2S Cash Coordinates User Guide T2S cash settlement is possible only if at least one SAC DCA link has been settled up As shown in the schema below it is possible to link a securities account to more than one cash account but the first link is identified as default link CSD Participant Payment Bank LATO DCA 1 LATO TITOLI CASH DCA 2 DCA 3 DCA 4 Default link SAC DCA link creation is mandatory for e Settlement of DVP operation in T2S e Government Bonds payments SAC DCA link creation is optional for e 12S settlement of the cash side of corporate actions affecting securities centralized by Monte Titoli via connections with NCSDs or ICSDs as an alternative to the Target2 settlement and corporate actions affecting securities centralized by Monte Titoli as Issuer CSD In other words for the following operation types London Stock Exchange Group o Foreign securities payments o Capital increase and warrant exercise o Payments of dividends funds proceeds o Interests payment repayment of capital HOW TO SECURITIES ACCOUNT OWNER In order to create a SAC DCA link you have to access the My T2S Cash Agents under the Cash Agents menu as shown in the following picture A D Participant General Data Parties amp Accounts Cash Agents Operational Mandate Service Configuration Communication Message amp Reports I Paying Agent Coordinates My T25 Cash Agents Pending R2. If a paying agent would change the cash coordinates from T2 to T2S it should require to Monte Titoli the template for the input of issuers data who are indirect cash participants After that Monte Titoli will insert it in CLIMP In the T2S Cash Agent for section under the Cash Agent main menu the agent bank can display their indirect T2S cash participants for cash settlement and corporate actions payments In this section is also possible to revoke payment assignment since it is the agent bank in charge to revoke the assignment previously received For further information please contact Master Data Management email mdm Ilseg com Telephone 39 0233635639
3. ctions Payment Request X Corporate Action Types AUMENTO CAPITALE ED ESERCIZIO DI WARRANT PAGAMENTO DIVIDENDI PROVENTI E FONDI Cash Agent Partecipante XXX Mandate Requestor Partecipante XXX Security accounts 60111 00T Proposed Start Date 04 12 2014 Corporate Action Types SAC DCA Proposed Start Date AUMENTO CAPITALE ED ESERCIZIO DI WARRANT 60111 00T DCA 04 12 2014 PAGAMENTO DIVIDENDI PROVENTI E FONDI 60111 00 T DCA 04 12 2014 Back Submit Request In this screen the paying agent has to select the DCA for each securities account corporate action couple If a client proposes itself as paying agent for issuers in T2S it has to insert through CLIMP the cash coordinates for Corporate Actions payments affecting securities centralized by Monte Titoli as Issuer CSD In other words for the following operation types o Capital increase and warrant exercise o Payments of dividends funds proceeds o Interests payment repayment of capital Paying agent cash coordinates input can be done through the Paying Agent Coordinates section present at the menu Cash Agent as shown in the following picture gt The Operation type named Foreign securities payments should not be considered and will be removed soon a Participant General Data Parties amp Accounts Cash Agents Operational Mandate Service Configuration Communication Message amp Reports 1 Paying Agent Coordinates My T25 Cash Agents Pendi
4. equests Closed Wi as T2 Cash Agents and Foreign Banks Actions IC t type Requester Once created the SAC DCA link can not be modified only the closure is possible The first SAC DCA link created for each securities account is automatically settled as default link as a consequence it is important to verify that when creating a default SAC DCA link there are no other valid issues which relate to the same account Be Careful Each client has to contact their indirect cash participants and require the set up of a new T2S payment assignment in the following cases e Settlement of DVP operation in T2S when the client acts as agent bank e Government Bonds payments when the client acts as agent bank e Corporate Actions payments that the client decide to pay in T2S The client through the T2S DVP Payments section has to use the New DVP link section By Pressing the button will appear the following pop up Please note that this operation type should not be confused with the settlement in currency different from i e payments in UDS GDP CHF currencies New Cash Agent x Cash Agent seleg Subject Party BIC Security accounts Security accounts Default Link Collateralization Link Cash Settlement 2193 00 P 62193 00 T 60253 00 L Proposal start date 04 02 2015 ma Submit Request e Cash Agent it s the agent bank that owns the DCA If you are the owners of the DCA you intend to use select your
5. llows only the cash settlement in order to settle corporate actions and government bonds payments it is necessary to create a dedicated payment assignment Be Careful Monte Titoli has settled up through CLIMP the configurations that for the time being are used for T2 settlement for all the operations different from government bonds payment If the client has the need to modify the payment system it must be close the T2 configuration first and only after that set up the T2S new configuration SECURITIES ACCOUNT OWNER The Client in the T2S Payments Corporate Actions has to use the New CA Payment Pressing the button it will appear the picture below New T25 Corporate Actions Payment Request 4 Operation Type select A Cash Agent Security accounts saject Ew ees 12 02 2015 E Submit Request Data to be input are the following ones e Operation Type select the type of Corporate Action to be settled in T2S e Cash Agent select the agent bank selezionare la banca tramite e Security accounts select the SAC used for the payment e Proposal Start Date select the start of validity date Once specified all data the request will be sent to the agent bank that will insert the cash coordinates The agent bank will find the request on its To Do List on CLIMP home page The pop up for input the cash coordinates is the following one New T25 Corporate A
6. lowing one Nuovo Incarico a Cash Agent per pagamento DWP Soggetto Mandante Partecipante XXX ABI Code Soggetto Mandante 111 lt lt BIC Payment Bank Cash Settlement Link Default Collateralisation Indentificativo E SAC Identificativo DCA Link Link 60111 OT 60277 00 L Data to be input are the following ones opened Identificativo CMB Data Inizio Proposta 24 11 2014 24 11 2014 Rifiuta Accetta Central Bank BIC code it s the BIC code of the Central Bank where the DCA is e Payment Bank BIC code it s the BIC code of the Payment Bank where the DCA is opened e DCA ID it s possible to associate a different DCA for each single SAC or or it s possible to indicate always the same DCA e Credit Memorandum Balance CMB ID it s assigned to SAC s for cash settlement of cash The field referred to CMB could be filled with a value which is meaningfully in order to identify the CMB type Monte Titoli does not require the precise code assigned by T2S when the Central Banks creates the CMB Monte Titoli suggests the following agreement e A value which identify the CMB type CMBP if it is a primary one or CMBS if it is a secondary one e A progressive number in order to distinguish the different CMBs For example it will be possible to define the primary CMB as CMBP and more than one secondary CMB named as CMBS01 CMBS02 eitc The creation of the SAC DCA link alone a
7. ng Requests Closed 725 Cash Agent For T2 Cash Agents and Foreign Banks Actions IC t type Requester Be Careful A paying agent for issuers can choose alternatively to indicate T2 or T2S coordinates lf T2S payment system is chosen only one cash account per corporate action type can be defined The client in the T2S Paying agent section has to use the Add New when pushing the button the following pop up Mew TIS Paying Agent Coordinates Corporate Action Type T sekci Jo Proposed start date jg jj jol Pegged ord date Te s j oa Data to be input are the following ones e Operation Type select the Corporate Action for which the client acts as cash agent e Central Bank BIC code BIC code of the Central Bank by which the cash account is opened e Payment Bank BIC code BIC code of the Payment Bank where the cash account is opened e identificativo DCA ID input the DCA for the payment of the selected Corporate Action When an issuer set up an assignment to a paying agent who decides to pay in T2S for one or more corporate actions it is necessary to create a SAC DCA link between the issuer account and the cash account Since for not financial issuers there are concrete difficulties on accessing CLIMP Monte Titoli in order to helps their clients is available to create on behalf of their participants the SAC DCA link between the issuer account and the cash account of a paying agent
8. self as cash agent e Lista Party BIC it is filled out automatically with the Party BICs linked to the securities accounts selected by the participant e Security accounts all securities accounts owned by the client are shown You have to select the ones to be connected with one or more DCAs e Default link it shows whether the selected SAC DCA link is a default link or not The system will automatically select the default box if this is the first link associated with that SAC If the box is gray it means that for the selected SAC a default link already exists e Collateralization link if selected the link can be used for collateralization operations If you want to use a specific SAC for collateralization operations it is necessary to select this box and define the account as Earmarked for Autocollateral e Cash settlement link if selected it can be used for cash settlement e Proposal start date it indicates the start of validity date of the link Once specified all data the request will be sent to the agent bank that will insert the cash coordinates If the client is also the DCA owner the system shows automatically the second step of the request Otherwise the agent bank will find the request on its To Do List on CLIMP home page In order to select this option please check the section of the user manual related to T2S Parties and Accounts AGENT BANK The pop up for input the cash coordinates is the fol
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