1 T2S Cash Crdinates User Guide T2S cash settlement is pssible nly if at least ne SAC-DCA link has been settled up. As shwn in the schema belw, it is pssible t link a securities accunt t mre than ne cash accunt but the first link is identified as default link. SAC-DCA link creatin is mandatry fr: Settlement f DVP peratin in T2S Gvernment Bnds payments SAC-DCA link creatin is ptinal fr: T2S settlement f the cash side f crprate actins affecting securities centralized by Mnte Titli via cnnectins with NCSDs r ICSDs, as an alternative t the Target2 settlement and crprate actins affecting securities centralized by Mnte Titli as Issuer CSD. In ther wrds fr the fllwing peratin types:
2 Freign securities payments 1 Capital increase and warrant exercise Payments f dividends / funds prceeds Interests payment / repayment f capital HOW TO SECURITIES ACCOUNT OWNER In rder t create a SAC-DCA link yu have t access the My T2S Cash Agents under the Cash Agents menu, as shwn in the fllwing picture. Once created, the SAC-DCA link can nt be mdified; nly the clsure is pssible. The first SAC-DCA link created fr each securities accunt is autmatically settled as default link; as a cnsequence, it is imprtant t verify that, when creating a default SAC-DCA link there are n ther valid issues which relate t the same accunt. Be Careful! Each client has t cntact their indirect cash participants and require the set up f a new T2S payment assignment in the fllwing cases: Settlement f DVP peratin in T2S when the client acts as agent bank Gvernment Bnds payments when the client acts as agent bank Crprate Actins payments that the client decide t pay in T2S The client, thrugh the T2S DVP Payments sectin, has t use the New DVP link sectin. By Pressing the buttn will appear the fllwing pp-up: 1 Please nte that this peratin type shuld nt be cnfused with the settlement in currency different frm (i.e. payments in UDS, GDP, CHF currencies)
3 Cash Agent: it s the agent bank that wns the DCA. If yu are the wners f the DCA yu intend t use, select yurself as cash agent. Lista Party BIC: it is filled ut autmatically with the Party BICs linked t the securities accunts selected by the participant. Security accunts: all securities accunts wned by the client are shwn. Yu have t select the nes t be cnnected with ne r mre DCAs. Default link: it shws whether the selected SAC-DCA link is a default link r nt. The system will autmatically select the default bx, if this is the first link assciated with that SAC. If the bx is gray it means that fr the selected SAC a default link already exists Cllateralizatin link: if selected, the link can be used fr cllateralizatin peratins. If yu want t use a specific SAC fr cllateralizatin peratins, it is necessary t select this bx and define the accunt as Earmarked fr Autcllateral. 2. Cash settlement link: if selected it can be used fr cash settlement Prpsal start date: it indicates the start-f-validity date f the link. Once specified all data, the request will be sent t the agent bank that will insert the cash crdinates. If the client is als the DCA wner the system shws autmatically the secnd step f the request. Otherwise the agent bank will find the request n its T D List n CLIMP hme page. 2 In rder t select this ptin, please check the sectin f the user manual related t T2S Parties and Accunts
4 AGENT BANK The pp-up fr input the cash crdinates is the fllwing ne: Data t be input are the fllwing nes : Central Bank BIC cde: it s the BIC cde f the Central Bank where the DCA is pened. Payment Bank BIC cde: it s the BIC cde f the Payment Bank where the DCA is pened DCA ID: it s pssible t assciate a different DCA fr each single SAC r r it s pssible t indicate always the same DCA. Credit Memrandum Balance (CMB) ID: it s assigned t SAC(s) fr cash settlement f cash. The field referred t CMB culd be filled with a value which is meaningfully in rder t identify the CMB type. Mnte Titli des nt require the precise cde assigned by T2S when the Central Banks creates the CMB. Mnte Titli suggests the fllwing agreement: A value which identify the CMB type: CMBP, if it is a primary ne, r CMBS if it is a secndary ne A prgressive number in rder t distinguish the different CMBs
5 Fr example it will be pssible t define the primary CMB as CMBP and mre than ne secndary CMB named as CMBS01, CMBS02 etc.. The creatin f the SAC-DCA link alne, allws nly the cash settlement, in rder t settle crprate actins and gvernment bnds payments, it is necessary t create a dedicated payment assignment. Be Careful! Mnte Titli has settled up thrugh CLIMP the cnfiguratins that, fr the time being, are used fr T2 settlement (fr all the peratins different frm gvernment bnds payment). If the client has the need t mdify the payment system, it must be clse the T2 cnfiguratin first and, nly after that, set up the T2S new cnfiguratin. SECURITIES ACCOUNT OWNER The Client in the T2S Payments Crprate Actins has t use the New CA Payment. Pressing the buttn it will appear the picture belw: Data t be input are the fllwing nes: Operatin Type: select the type f Crprate Actin t be settled in T2S. Cash Agent: select the agent bank.selezinare la banca tramite Security accunts: select the SAC used fr the payment. Prpsal Start Date : select the start-f-validity date.
6 Once specified all data, the request will be sent t the agent bank that will insert the cash crdinates. The agent bank will find the request n its T D List n CLIMP hme page. The pp-up fr input the cash crdinates is the fllwing ne: In this screen the paying agent has t select the DCA fr each securities accunt- crprate actin cuple. If a client prpses itself as paying agent fr issuers in T2S, it has t insert thrugh CLIMP the cash crdinates fr Crprate Actins payments affecting securities centralized by Mnte Titli as Issuer CSD. In ther wrds fr the fllwing peratin types 3 : Capital increase and warrant exercise Payments f dividends / funds prceeds Interests payment / repayment f capital Paying agent cash crdinates input can be dne thrugh the Paying Agent Crdinates sectin present at the menu Cash Agent as shwn in the fllwing picture: 3 The Operatin type named Freign securities payments, shuld nt be cnsidered and will be remved sn.
7 Be Careful! A paying agent fr issuers can chse alternatively t indicate T2 r T2S crdinates. If T2S payment system is chsen nly ne cash accunt per crprate actin type can be defined. The client in the T2S Paying agent sectin has t use the Add New ; when pushing the buttn the fllwing pp-up: Data t be input are the fllwing nes: Operatin Type: select the Crprate Actin fr which the client acts as cash agent Central Bank BIC cde: BIC cde f the Central Bank by which the cash accunt is pened. Payment Bank BIC cde: BIC cde f the Payment Bank where the cash accunt is pened. Identificativ DCA ID: input the DCA fr the payment f the selected Crprate Actin.
8 When an issuer set up an assignment t a paying agent wh decides t pay in T2S fr ne r mre crprate actins, it is necessary t create a SAC-DCA link between the issuer accunt and the cash accunt. Since fr nt financial issuers there are cncrete difficulties n accessing CLIMP, Mnte Titli, in rder t helps their clients, is available t create n behalf f their participants the SAC-DCA link between the issuer accunt and the cash accunt f a paying agent. If a paying agent wuld change the cash crdinates frm T2 t T2S, it shuld require t Mnte Titli the template fr the input f issuers data wh are indirect cash participants. After that Mnte Titli will insert it in CLIMP. In the T2S Cash Agent fr sectin under the Cash Agent main menu the agent bank can display their indirect T2S cash participants fr cash settlement and crprate actins payments. In this sectin is als pssible t revke payment assignment, since it is the agent bank in charge t revke the assignment previusly received. Fr further infrmatin please cntact: Master Data Management Telephne:
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