Denmark: Processing of all domestic settlement instructions in T2S - cutover details

11.10.2018

As previously communicated in Announcement A18086, effective

29 October 2018

all Danish domestic settlement instructions will be settled in T2S.

Clearstream Banking1 provides customers with the cutover details for the handling of pending settlement instructions for Clearstream Banking customers below.

Matched and unmatched instructions with requested settlement date (SD) up to and including Friday 26 October 2018 and SD 29 October 2018 or later released to VP.

All instructions that are in matched and unmatched status and that have been released to Danske Bank, by:

  • 11:45 CET for against payment instructions;
  • 14.00 CET for free of payment instructions.

on Friday 26 October 2018 with an SD up to or including Friday 26 October 2018 will be migrated to T2S.

No action is required from Clearstream Banking customers.

Pending instructions with requested settlement date (SD) up to and including 26 October 2018 and SD 29 October 2018 or later not released to Danske Bank.

Pending instructions in an unmatched status, but not yet released to Danske Bank by:

  • 11:45 CET for against payment instructions;
  • 14.00 CET for free of payment instructions.

on Friday 26 October 2018 will be cancelled and customers will need to re-input these instructions on Monday 29 October in the correct T2S format to avoid settlement delays.

Enhanced settlement deadlines

The customer deadlines for receipt at Clearstream Banking1 of valid free of and against payment external instructions will be improved as follows:


Current deadlines

Deadline from 29 October 2018

Against payment in EUR

14:00 CET

15:40 CET

Against payment in DKK

11:45 CET

15:40 CET

Free of payment

14:00 CET

17:40 CET

Income and custody events

There is no impact on income events (interest or dividends).

Furthermore, no impact is expected on corporate action events over the migration weekend.

Investment funds

Please note that some selected investment funds are non-T2S eligible and will not be part of the migration.

Further information

This is the current situation based on latest information, should there be any changes we will inform you accordingly.

For further information, customers may contact Clearstream Banking Client Services or their 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 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.