Year-end processing and instruction deadlines 2016 - update 2

29.12.2016

Note: This announcement has been updated to include early closing for Bulgaria and Russia on 30 December 2016.

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 2016 and 1 January 2017 will both fall on a Sunday which are non-business days for Clearstream Banking.

Reporting for value date 23 December 2016 and 30 December 2016

The night-time processing on 23 December 2016 will run as usual.

The night-time processing on 30 December 2016 will run as usual.

Nevertheless and as both days will fall on Sundays, we would like to announce that the usual weekend maintenance will be completed earlier than usual. As such and on an exceptional basis, we would like to advise Clearstream Banking customers, that we will stop all applications on 24 December and 31 December 2016 at 12:00 instead of 17:00.

The 23 December 2016 end of day reports will be available as usual.

The 30 December 2016 end of day reports will be available as usual.

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:

Bulgaria

Changed deadlines in the Bulgarian market on 30 December 2016.

Clearstream Banking deadlines are as follows:

T-bills and government bonds - free of payment

unchanged

Equities, investment funds, corporate, mortgage and municipal bonds - SE Trades free of payment

12:15

Equities, investment funds, corporate, mortgage and municipal bonds - SE Trades against paymentunchanged

Cash

unchanged

Estonia/Latvia/Lithuania

23 December 2016

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

 12:45

unchanged

unchanged

Settlement instructions free of payment

 12:45

  12:45

 12:45

Poland

Changed deadlines in the Polish market on 30 December 2016.

Clearstream Banking deadlines are as follows:

WSE transactions

09:00

All OTC transactions
(Delivery versus payment, free of payment, equities, T-bonds, T-bills, covered, corporate and municipal bonds)

10:30

Cash

VD 12:00

Russia

Early closing on 30 December 2016 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 30 December 2016 will be rejected by the depository.

Clearstream Banking deadlines are as follows:

Settlement instructions free of payment11:15
Settlement instructions against payment (USD)11:15
Settlement instructions against payment (RUB)07:45
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 2 January 2017 to 8 January 2017

There will be no trading, clearing or settlement of trades on 2 January 2016 to 6 January 2017 inclusive.

United Kingdom

Shorter deadlines for securities against payment transactions in the UK market with a requested settlement date of 30 December 2016:

Securities deposited in Citibank UK

10:00

Gilts

10:00

Cash pre-advices and withdrawals of funds

10:00

For more details, please refer to Announcement A16188.

On Tuesday, 27 December 2016 and Monday, 2 January 2017, the CREST system will be available for EUR and free of payment settlement only.

Please note that Kerry Group Registrars (R019) will be closed on Tuesday, 27 December 2016 and Monday, 2 January 2017, Therefore, settlement will not occur for transactions that involve ISIN - IE0004906560 - KERRY GP EUR 0.125.

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 2016 and New Year's Day 2017

Clearstream Banking will be closed on Christmas Day 2016 and New Year's Day 2017.

Business will be as usual on 26 December 2016 and on 2 January 2017.

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 2017.

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 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, and Clearstream Banking AG (for Clearstream Banking Frankfurt (CBF) customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.