Executing back-to-back transactions using individual accounts with international clearing houses
An individual account with Euroclear Bank S.A./Clearstream Banking enables the client to execute same-day back-to-back transactions (“back-to-back trades,” 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.
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).