This is important as this allows the buyer to complete a sales transaction on the E/C system in a matter of just a few days. The process works as follows.
1. Seller presents new KYC or CIS, Passport,Custodial Receipt, and current dated E/C Pages 1-14 & 21,22,23,24
2. Buyer logs onto Euro Clear system and confirms that the person who has presented their passport is truly the owner.
3. Thereafter the buyer sends a pay order to the desk at the bank that placed the LTNs onto E/C and they accept and respond. The codes on the Current Dated pages then allow the buyer to load the funds into the E/C system and block the LTNs in favor of the sale.
4. Once the funds are released into the Euro Clear bank or to the owner's bank account the title is then transferred to the new owners name on the Euro Clear System
5. The price that they pay is based on the Maturity value; 15%and more for the Z series and of 15% and more for all others. All monies are released in one wire transfer, 72 haurs, Price depends on LTN quality, series, quantity, etc.
6. he negotiates directly with the buyer and the seller
7. The details of this is communicated to the bank in the pay order.