Settlement times - International

18.12.2017

The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) in CBF, in CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBF cannot guarantee timely settlement. Instructions received after the deadline will be processed on a "best efforts" basis.

Important Note: As part of CBF’s internal compliance procedures, all incoming customer instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the Customer via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, Customers are advised to input instructions at least 15 minutes before the associated deadline.

Instruction

Provisioning

Deadline for receipt of
valid instruction
a

Expected settlement results

start

end

from

to

value

AP=Against payment FOP=Free of payment SD=Settlement date

Receipts

FOP

20:00
SD-1 b

18:00
SD 

17:45
SD

20:20
SD-1

18:00
SD

AP

20:00
SD-1

16:00
SD 

15:40
SD c

07:00
SD

16:00
SD

SD

Deliveries

FOP

20:00
SD-1 b

18:00
SD 

17:45
SD

20:20
SD-1

18:00
SD

AP

20:00
SD-1 b

16:00
SD 

15:40
SD c

07:00
SD

16:00
SD

SD

a All deadlines refer to online placement in CASCADE and depend on timely CBL matching and sufficient cover.
b Start of Night-Time Settlement (NTS) in T2S.
c Instructions for the same value date must be entered and matched in T2S by the counterparties before the deadline of 15:40 in order to be settled on the same day.