T2S final wave: Impact on Clearstream Banking services - update II
The attachment below has been updated to correct the free of payment deadline in Lithuania.
Monday 18 September 2017
the final wave of TARGET2-Securities (T2S) will be launched.
In the final wave, four 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 Banking1") has an existing domestic link to these CSDs.
The CSDs will send securities 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||Eligible securities||Services impacted by T2S final wave|
|Estonia||Estonian Central Securities Depository (EVK)||Direct link operated by AS SEB Pank, Tallinn||Debt securities and equities eligible in EVK||Settlement free of and against payment in EUR|
|Latvia||Latvian Central Depository (LCD)||Indirect link via AS SEB Pank, Tallinn||Debt securities and equities eligible in LCD||Settlement free of and against payment in EUR|
|Lithuania||Central Security Depository of Lithuania (CSDL)||Indirect link via AS SEB Pank, Tallinn||Debt securities and equities eligible in CSDL||Settlement free of and against payment in EUR|
|Spain||Iberclear||Indirect link via BBVA Madrid||Debt securities and equities eligible in Iberclear||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.
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.