Individual client accounts with international clearing houses
Executing back-to-back transactions using individual accounts
with international clearing houses
Individual client accounts with international clearing houses
Executing back-to-back transactions using individual accounts
with international clearing houses
Information
Conditions for «back-to-back» operations
An individual account with Euroclear Bank S.A./Clearstream Banking
enables the client to execute same-day back-to-back transactions
(«back-to-backtrades» in which securities are sold and repurchased
in the same amount on the same day).
Such transactions do not require foreign currency or depot accounts
for each trade (purchase or sale). Clients may use proceeds
from a back-to-back transaction.
Transaction terms:
Parties in a back-to-back transaction shall hold accounts in the same international clearing house (either Euroclear Bank
or Clearstream Banking) when executing transactions
Such transactions shall be carried out as part of a back-to-back
transaction only, i.e. buying and selling securities of one type
during a single transaction day
The order procedure and form (including via SWIFT) remain
unchanged except for account numbers the number of
the client s individual account with an international clearing house
shall be provided
Customer money orders (for companies that hold current accounts
with the bank) in foreign currency both in and outside Russia
as payment for goods supplied under import contracts as well
as for other export-import purposes, for services or intellectual
property
Credit letters involving a foreign currency amount paid against
commercial or financial documents or warrants specified
in the money order that the recipient of the funds must provide
When sending VTB trade instructions regarding the aforementioned
transactions via SWIFT, the code PREV// and a reference
to the related instruction shall be stated in box 20С of the MT 540,
541, 542, and 543 forms
The transaction type must be included when using other ways
of instructing VTB (TELEX, printed instructions by courier)