Central bank money services (CSD)
For cash settlement, Clearstream uses central banks, correspondent banks (cash agents) and payment systems where customers keep their corresponding cash accounts.
- All payments resulting from the settlement of transactions and corporate actions with CSC securities, and from the settlement of fees and charges in CASCADE, are settled in EUR via TARGET2
- A special case is the settlement of payments in CHF through the Swiss National Bank. This link is only used for cash settlement of transactions in relation to Swiss CSC securities against CHF.