T2S settlement day 10 February 2017
Volumes remain at pre-T2S levels. Smooth operations on T2S continue.
Areas to keep an eye on:
- Before an instruction with a newly issued security can be accepted, the security admission procedure has to be completed, that is, the ISIN must be introduced at T2S before a settlement instruction can be entered in the system. For details, please refer to the “New Issues” section in the respective Customer Handbooks. CBF has developed a tool that will upload rejected Stock Exchange instructions in new ISINs just before T2S closes. Customers are kindly asked to reinstruct OTC instructions.
- T2S partial settlement: In case a DCA is to be debited and credited for the same T2S partial settlement instruction, the instruction goes into a loop. This issue has been reported to T2S. Recommendation is currently to avoid the cases where the DCA is the same for the buyer and seller. A Change Request has been submitted to the ECB.
- MT544: With the introduction of T2S the Settlement Confirmation MT544 for a match instruction within the passive matching service will show the T2S matching criteria only. Please refer to the MT536 Clearing and Settlement Statement for a complete set of information.
- MT536: Price difference information is not provided for Stock Exchange instruction where the price differs between the market and the settlement amount. In field :70E::DECL//RADI the displayed difference is zero (0) in MT536 Clearing and Settlement Statement (CSS). Whereas in the Settlement Confirmation (MT545 / MT547) the price is displayed correctly and cash bookings are performed accordingly.
With regards to updated documentation available, please note:
- Realignment Guides for Denmark have been updated, see link below.
- The CBL documents for France and Finland will be updated as soon as possible.
This is the last update. Further information will be distributed via the existing communication channels.