Belgium, France and the Netherlands: Changed migration date
Clearstream Banking1 has decided to move the release date for the roll out of the Investor-CSD link model to the ESES markets (Belgium, France, the Netherlands) from 26 February 2018 to
Monday, 9 April 2018
This decision was taken after extensive consultation with customers and Deutsche Börse Group entities involved, as well as continuous reviews of the readiness status of participants in the German market and in the above T2S-in markets.
As Financial Market Infrastructures, Clearstream Banking AG and Clearstream Banking S.A. are committed to provide safe, resilient and efficient services to all their participants. As we approach the end of readiness and testing activities, Clearstream Banking has decided to extend the current testing window. Clearstream Banking is convinced that this will provide the required additional time for all stakeholders involved to successfully complete their readiness activities.
All publications will be updated over the following days to reflect this change in timeline.
Clearstream Banking remains fully committed to roll out its Investor-CSD link model in order to provide customers with the best possible service level in a post-T2S world and to implement the OneClearstream migration with the following key market benefits:
- Centralisation in Clearstream Banking AG of T2S-eligible securities for all T2S markets, extending the scope of securities admitted in Collective Safe Custody and providing harmonised formatting of counterparty instructions.
- Enhanced asset servicing offering with harmonised connectivity (ClearstreamXact), introducing additional automation of the market claims and transformations life cycle.
The Investor-CSD link model to Italy will be rolled out as planned on 26 March 2018.
For further information please contact Clearstream Banking Client Services or your 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 (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.