T2S wave 4: Impact on Clearstream Banking services - update 2
Note: This announcement, originally published on 12 August 2016 and updated on 23 November, has been updated to include a new version of the attached document to update the procedure for domestic counterparties and the instruction specifications for the German market. Changes have been marked in the attached document.
Monday 6 February 2017
the fourth wave of TARGET2-Securities (T2S) will be launched.
In the fourth wave, six Central Securities Depositories (CSDs) will change their settlement processes by outsourcing their settlement activity to T2S. Clearstream Banking S.A. (hereinafter referred to as "Clearstream Banking") has direct domestic links to these six CSDs.
The CSDs will send securities settlement instructions received from their participants to T2S for matching and subsequent settlement. Clearstream Banking will continue to access the CSDs via its local agents and depositories, as follows:
|Country||CSD||Type of link||Securities eligible||Services impacted by T2S wave 4|
|Austria||Österreichische Kontrollbank (OeKB)||Direct link operated by Erste Group Bank AG Wien||Debt securities and equities eligible in OeKB||Settlement free of and against payment in EUR|
|Germany||Clearstream Banking Frankfurt (CBF)||Direct link||Debt securities and equities eligible in CBF||Settlement free of and against payment in EUR|
|Hungary||KELER||Direct link operated by Raiffeisen Bank International AG||Debt securities and equities eligible in KELER||Settlement free of and against payment in EUR|
|Luxembourg||LuxCSD||Direct link||Debt securities and equities eligible in LuxCSD||Settlement free of and against payment in EUR|
|Slovak Republic||Centralny depozitar cennych papierov SR (CDCP)||Direct link operated by CSOB Bratislava||Debt securities and equities eligible in CDCP||Settlement free of and against payment in EUR|
|Slovenia||Klirinško depotna družba d.d. (KDD)||Direct link operated by Nova Ljubljanska banka d.d., Ljubljana (NLB)||Debt securities and equities eligible in KDD||Settlement free of and against payment in EUR|
Please refer to the PDF attached below for the information about the impact on customers.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.