Year-end processing and instruction deadlines 2015 - update V

31.12.2015

Clearstream Banking1 reminds customers of the impact of the year-end processing holidays on settlement and cash.

All times in this Announcement are Central European Time (CET).

Clearstream Banking year-end processing

25 December 2015 and 1 January 2016 are non-business days for Clearstream Banking and special timings apply:

  • The night-time processing (between Clearstream Banking and Euroclear Bank) on 24 December 2015 will be delayed and run on 25 December 2015 at 20:00.
  • The 24 December 2015 end of day reports will be available on 25 December 2015 at the usual time.
  • The night-time processing (between Clearstream Banking and Euroclear Bank) on 31 December 2015 will be delayed and run on 1 January 2016 at 20:00.
  • The 31 December 2015 end of day reports will be available on 1 January 2016 at the usual time.

Instruction timings for Clearstream Banking customers

Please pay special attention to the following details related to securities instructions that contain a requested settlement date that is the same as a Clearstream non-business day.

For domestic, internal and Bridge instructions, the following special procedures will apply.

For internal and Bridge instructions:

  • Instructions received with a requested settlement date of 25 December 2015 or 1 January 2016 will not be processed for settlement until the next Clearstream Banking business day, being 28 December 2015 or 4 January 2016, respectively.

As a consequence, for all internal and Bridge instructions, the debit and credit of cash will be given the value of 28 December 2015 or 4 January 2016, provided the instructions settle on those days.

For domestic instructions:

  • The effective settlement date for instructions with a requested settlement date of 25 December 2015 or 1 January 2016 will be the first Clearstream Banking business day following the Clearstream non-business day, being 28 December 2015 or 4 January 2016, respectively, under the condition that the instructions settle in the market with the requested settlement dates.
  • For receipt instructions that settle on the market on 25 December 2015 or 1 January 2016, the cash countervalue of the trade will be debited with value 25 December 2015 or 1 January 2016, respectively. The debit of cash in Clearstream Banking will be booked on 28 December or 4 January 2016, respectively.
  • For delivery instructions that settle on the market on 25 December 2015 or 1 January 2016, the cash countervalue of the trade will be credited with value date 28 December 2015 or 4 January 2016, respectively. The credit of cash in Clearstream Banking will be booked on 28 December 2015 or 4 January 2016 respectively.

Securities and cash instructions

Customers are reminded that processing holidays are shown in the Cash and Securities Holidays, which are updated as soon as information is available.

In the below-mentioned markets, however, exceptional deadlines or exceptional arrangements apply:

Canada

Shorter deadlines on 24 December 2015 and 31 December 2015.

Clearstream Banking deadlines are as follows:

Settlement instructions against payment18.00
Settlement instructions free of paymentunchanged
Cash payments18:00

For more details, please refer to Announcement A15189.

Czech Republic

Early closing on 31 December 2015 at the CSD Prague (CDCP).

Clearstream Banking deadlines are as follows:

Bonds and equities against paymentunchanged
Bonds and equities free of payment13:25
T-bills against and free of paymentunchanged
Cash paymentsunchanged

Estonia / Latvia / Lithuania

23 December 2015

Early closing at AS SEB Pank, Clearstream Banking’s agent/depository for the Estonian, Latvian and Lithuanian markets.

Clearstream Banking settlement deadlines are as follows:

Securities

Estonia

Latvia

Lithuania

Settlement instructions against payment

 unchanged

unchanged

unchanged

Settlement instructions free of payment

 12:45

  12:45

 12:45

24 December 2015 and 25 December 2015

Closed in Estonia, Latvia and Lithuania for both securities settlement and cash payment.

30 December 2015

Early closing on the Latvian market.

Clearstream Banking settlement deadlines are as follows:

SecuritiesLatvia

Settlement instructions against payment

unchanged

Settlement instructions free of payment

12:45

31 December 2015

Early closing at AS SEB Pank, Clearstream Banking's agent/depository for the Estonian, Latvian and Lithuanian markets. 

Clearstream Banking settlement deadlines are as follows:

Securities

Estonia

Latvia

Lithuania

Settlement instructions against payment

unchanged

closed

unchanged

Settlement instructions free of payment

 12:45

closed

12:45

Hong Kong

24 December 2015 is a non-settlement day in CCASS for A-Shares.

Settlement of of CMU-eligible instrumentsunchanged
Cashunchanged

31 December 2015

Settlement day in CCASS for A-Shares.

Non-settlement day for Hong Kong equities and warrants.

Settlement of of CMU-eligible instrumentsunchanged
Cashunchanged

Iceland

Early closing on 31 December 2015 in the Icelandic market.

Clearstream Banking deadlines are as follows:

Free of payment OTC instructions via off market method for same day settlement12:00
Against payment OTC instructions via ISD,TRS matching system for value date 4 January 201612:00
For cash payments12:00

Ireland

Early deadlines for against payment transactions in GBP with a requested settlement date of 31 December 2015.

Clearstream Banking deadlines are as follows:

All securities10:00

All other deadlines remain unchanged.

Instructions transmitted after the above Clearstream Banking deadline but for the same requested settlement date could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.

For more details, please refer to Announcement  A15227.

Luxembourg

Early closing at ICBC Luxembourg (CNY CCB) on 31 December 2015.

Clearstream Banking deadlines are as follows:

Cash pre-advice of funds 12:00

Mexico

Shorter deadlines on 24 December 2015 and 31 December 2015.

Clearstream Banking deadlines are as follows:

Settlement instructions against payment18:00
Settlement instructions free of paymentunchanged
Cash payments18:00

For more details, please refer to Announcement A15189.

Poland

31 December 2015

WSE transactions will not be possible.

Early closing in the Polish market.

Clearstream Banking deadlines are as follows:

All OTC transactions10:30
CashVD 12:00

Romania

The Central Depository (CSD) will be closed on 24 December 2015 and 31 December 2015. No settlement of municipal and selected foreign bonds will be possible.

Clearstream Banking deadlines are as follows:

Settlement for National Bank of Romania (NBR) eligible government bonds and billsunchanged
Cash paymentsunchanged

Russia

Early closing on 31 December 2015 in the Russian Market.

The cash leg of delivery against payment transactions can only be settled within the first batch of the Central Bank of Russia (CBR). Please pay attention to the time schedule of the cash leg calculation in accordance with the RUB delivery against payment flow.

All instructions received for later batches on 31 December 2015 will be rejected by the depository.

Clearstream Banking deadlines are as follows:

Settlement instructions free of payment11:15
Settlement instructions against payment07:45
Cashunchanged. Please note that due to the early closing of the CBR, no high volume payments will be possible after 12:15

Winter Break from 1 January 2016 to 10 January 2016

There will be no trading, clearing or settlement of trades on 1 January 2016 and on 7 January 2016 to 8 January 2016 inclusive.

Settlement free of and against payment will be possible on 4, 5 and 6 January 2016.

Cash and FX transactions will not be possible during the Winter Break.

Singapore

24 December 2015 and 31 December 2015 are half working days at the Central Depository (Pte) Limited (CDP).

Clearstream Banking deadlines are as follows:

Settlement of CDP-eligible securities (equities, warrants, loan stocks and corporate
bonds) and Singapore corporate bonds

10:20 on 23 December 2015 for SD 24 December 2015

10:20 on 30 December 2015 for SD 31 December 2015

Cashunchanged

Early closing at ICBC Singapore (CNY CCB) on 31 December 2015.

Clearstream Banking deadlines are as follows:

Cash pre-advice and withdrawal of funds 12:30

Slovenia

Early closing on 24 December and 31 December 2015 in the Slovenian Market.

Clearstream Banking deadlines are as follows:

Settlement instructions free of payment

13:15

Settlement instructions against payment

13:15

South Africa

Shorter deadlines for cash transactions in the South African market on 24 December 2015 and 31 December 2015.

Clearstream Banking deadlines are as follows:

Settlement instructions free and against payment

unchanged

Cash

11:30 CET

United Kingdom

Shorter deadlines for securities against payment transactions in the UK market with a requested settlement date of 31 December 2015:

Securities deposited in Citibank UK10:00
Gilts10:00
Cash pre-advices and withdrawals of funds10:00

Instructions transmitted after the above Clearstream Banking deadline but for the same requested settlement date could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.

For more details, please refer to Announcement  A15227.

Please note that Kerry Group Registrars (R019) will be closed for processing on 24 December 2015 and 31 December 2015.

Therefore, settlement will not occur for transactions that involve ISIN - IE0004906560 - KERRY GP EUR 0.125.

The above security will be available for Delivery By Value (DBV) settlement on both Wednesday 23 December 2015 and Wednesday 30 December 2015. However, as a consequence of this holiday, Delivery by Value Return (DBR) transactions will only be returned on Tuesday 29 December 2015 or Monday 4 January 2016.

Uruguay

Early closing on 24 December 2015.

Clearstream Banking deadlines are as follows:

Settlement instructions against and free of payment18:00 on 23 December 2015 for SD 24 December 2015
Cash payments18:00 on 23 December 2015 for SD 24 December 2015

U.S.A.

Shorter deadlines on 24 December 2015 and 31 December 2015.

Clearstream Banking deadlines are as follows:

Settlement instructions against payment18:00
Settlement instructions free of paymentunchanged
Cash payments18:00

For more details, please refer to Announcement A15189.

The above-mentioned Clearstream Banking deadlines are valid provided that the customer’s instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, Clearstream Banking cannot guarantee timely settlement.

Christmas Day 2015 and New Year's Day 2016

Christmas Day in 2015 and New Year's Day in 2016 both fall on a Friday, Clearstream Banking will be closed on both dates. Business will be as usual on 28 December 2015 and on 4 January 2016.

Seasonal greetings

We would like to take this opportunity to wish all customers an enjoyable and peaceful end of year and a prosperous and happy 2016.

Further information

For further information please contact Clearstream Banking Client Services or your Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.