Link Guide - International
Settlement free of payment
Settlement against payment
Eligible settlement currency: Euro (EUR) and non-EUR foreign currencies eligible in CBF.
Settlement penalty fees
Selected French Registered equities
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;
- Selected Eurex-eligible securities;
- Selected French Registered equities (Michelin S.A. ISIN FR0000121261, Lagardère S.C.A. ISIN FR0000130213 and Gecina S.A. ISIN FR0010040865).
- Selected LU-ISINs (ETF)s;
- Finnish securities (debt instruments, equity-linked securities, Finnish Depository Receipts (FDR) with the settlement location or depository Euroclear Finland);
Swedish equitiy TELIA, Telia Company, ISIN SE0000667925.
Note: Settlement of French Registered shares and Finnish securities via the direct CBF link to Euroclear France and to Euroclear Finland is no longer supported. Instead, CBF customers can settle French and Finnish securities via the following two steps:
- Buy French or Finnish securities from Euroclear France or Euroclear Finland to 6-series accounts in Creation, and then,
- Realign the French or Finnish 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 or Finnish counterparties, the Creation Link Guides for France and Finland are 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 system and the results are reported to customers as “pre-settlement 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.
To ensure matching, CBF customers are recommended to inform their Creation counterparties to instruct with the BIC11 of the CBF counterparty in the second matching field.
Note: CBF recommends to agree on the usage of a common reference (:20C::COMM) with the counterparty in CBL to avoid cross-matching if it is populated in the settlement instructions of both parties.