ESES markets: Identification of settlement parties in T2S - update


This announcement previously published on 24 January 2017 has been updated to change the effective date.

Clearstream Banking1 kindly reminds customers that in T2S, ESES participants are identified exclusively by the combination of the BIC11 of the home CSD (SWIFT: :95P::PSET or CreationOnline: Place of Settlement) and the BIC11 of the ESES participant.


Monday 10 April 2017

the use of the Data Source Scheme (DSS) in Xact via SWIFT and Xact File Transfer :95R::DEAG or :95R::REAG and CreationOnline Delivering Agent or Receiving Agent, will no longer be accepted by Clearstream Banking to identify the counterparty in T2S.

Impact on customers

Released matched and unmatched instructions with requested settlement date (SD) up to and including 7 March 2017 will  be automatically converted by our Agent BP2S from the DSS into the BIC11 counterparty code.

All T2S eligible transactions released to Clearstream Banking from Monday 10 April 2017 identifying the counterparty in T2S with the local bank code (DSS) instead of a valid BIC11 will be rejected by Clearstream Banking.

Customers will be required to reinstruct to ensure acceptance in Clearstream Banking and matching in T2S  by using  the BIC11 of the ESES participant in their settlement instruction to Clearstream Banking.

Further information

For further information about procedures, customers may contact Clearstream Banking Client Services or their Relationship Officer.


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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.