Information on the functional modifications for the Euroclear markets France, Netherlands and Belgium on T2S
Clearstream Banking1 would like to inform customers about the scheduled functional modifications for the upcoming migration of the Euroclear markets France (EF), Euroclear Netherlands (ENL) and Euroclear Belgium (EBE), before CBF, to TARGET2-Securities (T2S). It is necessary for these details to be taken into consideration in the processes of our customers for the respective start of production.
- Change of account numbers for Euroclear France (EF), Euroclear Netherlands (ENL) and Euroclear Belgium (EBE);
- Adjustment of the settlement timeline for valid instructions;
- Consideration of the T2S matching criteria;
- Use of T2S Party BICs and SACs;
- Changes in the processing of Delivery versus Payment (DvP) instructions;
- Changes in the use of Free of Payment (FoP) instructions without matching (dumps);
- Adjustment of the Hold / Release process;
- Adjustment of the cancellation process for valid instructions;
- Changes to the processing of corporate actions;
- Adjustment of settlement messages in ISO 15022 format;
- Adjustment of the counterparty information in the party levels of an instruction.
The implementation guidelines for these functional aspects will be explained in the attachment.
1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.