Settlement times - Israel

08.11.2017

The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) 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, CBL cannot guarantee timely settlement.

Important Note: As part of CBL’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.

Securities settlement instructions received on a Friday will be matched and settled in Israel on the following Sunday. Settlement takes place on Fridays for instructions matched on Thursday. CBL does not operate on Sundays.

Settlement times in Central European Time (CET)

30 October 2016 - 23 March 2017 and 26 March 2017 - 28 October 2017

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP09:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
AP13:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
SD
DeliveriesFOP09:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
AP13:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
SD

24 March 2017 - 25 March 2017

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP08:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
AP12:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
SD
DeliveriesFOP08:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
AP12:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
SD

29 October 2017 - 22 March 2018 and 26 March 2017 - 28 October 2017

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP09:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
AP13:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
SD
DeliveriesFOP09:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
AP13:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
SD

23 March 2018 - 24 March 2018

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP08:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
AP12:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
SD
DeliveriesFOP08:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
AP12:00
SD-1
07:55
SD
07:55
SD
14:00
SD
15:00
SD
SD

Settlement times in Israel Time

30 October 2016 - 23 March 2017 and 26 March 2017 - 28 October 2017

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP10:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
AP14:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
SD
DeliveriesFOP10:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
AP14:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
SD

23 March 2018 - 24 March 2018

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP09:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
AP11:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
SD
DeliveriesFOP09:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
AP11:00
SD-1
08:55
SD
08:55
SD
15:00
SD
16:00
SD
SD

29 October 2017 - 22 March 2018 and 26 March 2017 - 28 October 2017

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
ReceiptsFOP10:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
AP14:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
SD
DeliveriesFOP10:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
AP14:00
SD-1
09:55
SD
09:55
SD
16:00
SD
17:00
SD
SD

Notes on the settlement times

Note: The timings in the following details apply on all but the two exceptional days mentioned above, for which two days the timings will be one hour earlier than indicated.

Settlement confirmations for equities and fixed income settlement instructions entered by 09:55 on SD (Israel Time) will only be available in the afternoon (Israel Time) as indicated in the Settlement times above. In this case, customers must ensure that cash funding requirements with CBL are met by 14:00 or on SD-1 (Israel Time).

Settlement instructions entered after 09.55 on SD (Israel Time) will settle with next-day value.

Customers that want to receive settlement confirmations on the morning of SD, starting at 10:00 (Israel Time), are requested to enter the settlement instructions by 16:30 on SD-1 (Israel Time) and ensure that cash funding requirements with CBL are met by 14:00 on SD-1 (Israel Time).