Link Guide - International
Settlement free of payment
Settlement against payment
Eligible settlement currency: Euro (EUR).
STD, Continuous settlement (Cont-SDS FoP) and RTS.
Settlement penalty fees
Multi Market Securities
Lending and borrowing
Liquidity Hub Connect
Sale and purchase of rights
Type of link
CSD or settlement method
Direct CSD link
Clearstream Banking S.A. (CBL)
CBF-eligible security types
- Selected New Global Notes (NGNs);
- Selected Eurobonds;
- Registered equities (Michelin S.A. ISIN FR0000121261, Lagardère S.C.A. ISIN FR0000130213 and Gecina S.A. ISIN FR0010040865).
Note: The Settlement of French Registered shares via the direct CBF link to Eurocleaer France is not supported any more. Instead, CBF clients can still settle and acquire French securities via the following two steps:
- Acquire French securities from Euroclear France to 6-Series accounts in Creation, and then
- Realign the French securities from 6-Series accounts in Creation to CASCADE (link between CBF and CBL as T2S Out-CSD)
For details on receipts from/deliveries to French counterparties, the CLG - France is fully applicable.
Clearstream Banking S.A.
42 Avenue John F. Kennedy
Cash correspondent details
Euro (EUR) via TARGET2
RTGS account of a direct TARGET2 participant
Pre-matching is possible on this market.
Matching is attempted directly in the CSD's system and the results are reported to customers as “presettlement information”.
Free of payment instructions are required to be matched. This applies both to receipt and delivery instructions. The free of payment matching defaults set on the CBF customer’s account will be used; for example, active matchers must enter their instructions themselves and CASCADE automatically generates the matching instructions for passive matchers.
CBF customers are recommended to inform their Creation counterparties that, to ensure matching, they should instruct with DAKV and the relevant 4-digit account number.