Public holiday regulation in 2017 for CASCADE and Creation

27.10.2017

Clearstream Banking1 would like to draw its customer’s attention to the public holiday regulation for the CASCADE and Creation systems applicable to Germany (national) or for certain regions (R) in 2017. The table below lists the regulation for individual public holidays, but does not include public holidays that fall on a weekend.

The existing CASCADE holiday regulation is adjusted to the T2S holiday calendar. On days on which T2S is open, CASCADE is open as well. As a result, starting in 2017 settlement will also be possible during Good Friday, Easter Monday and 1 May.

T2S is closed on the following holidays of the year for any type of securities and cash settlement

  • 25 December (Christmas Day);
  • 26 December (Boxing Day);
  • 1 January (New Year’s Day).

In addition T2S is closed for settlement against EUR on the following TARGET2 (T2) holidays but open for free of payment (FoP) settlement of securities:

  • Good Friday;
  • Easter Monday;
  • 1 May (Labour Day).

These three days might also lead to custody-related security payments. In some circumstances, these days can be defined as Record Date for custody. If the announced Record Date is a public holiday according to the T2 calendar, the previous business day will be processed as Record Date.

Payments in foreign currencies can also settle during TARGET2 closing days via Clearstream’s Creation platform, depending on the closing days and public holiday regulation of the respective foreign currency.

Cross-border transactions against other domestic markets with closing days differing from the T2S holiday calendar will, as today, remain pending on those closing days until the next business day.

Public holidayCASCADECreation
Friday, 6 January 2017, Epiphany (R)openopen
Friday, 14 April 2017, Good Friday (national)openopen
Monday, 17 April 2017, Easter Monday (national)openopen
Monday, 1 May 2017, Labour Day (national)openopen
Thursday, 25 May 2017, Ascension Day (national)openopen
Monday, 5 June 2017, Whit Monday (national)openopen
Thursday, 15 June 2017, Corpus Christi (R)openopen
Tuesday, 15 August 2017, Ascension Day (R)openopen
Tuesday, 3 October 2017, German Reunification Day (national)openopen
Tuesday, 31 October 2017, Reformation Day (national)openopen
Wednesday, 1 November 2017, All Saints’ Day (R)openopen
Wednesday, 22 November 2017, Day of Prayer and Repentance (R)openopen
Monday, 25 December 2017, Christmas Day (national)closedclosed
Tuesday, 26 December 2017, Boxing Day (national)closedopen
Monday, 1 January 2018, New Year’s Day (national)closedclosed

Counter opening hours at CBF

On days that CASCADE is not open for business, the counters of CBF will also remain closed.

In addition, counters will remain closed on 14 April (Good Friday), 17 April (Easter Monday), 1 May (Labour Day), 25 May (Ascension Day), 5 June (Whit Monday), 15 June (Corpus Christi), 3 October (German Reunification Day) and 31 October (Reformation Day). However, CASCADE will remain operational on the above mentioned five dates.

Due to a regional public holiday on Tuesday, 28 February 2017, the counters will also be closed from 13:00.

Public holidays on which CASCADE is closed and Creation is open

Stock exchange trades in securities held in non-collective safe custody (foreign OTC stocks) are not settled on these days. Stock exchange trades are forwarded to Creation in CASCADE’s STD22 cycle on the evening of the public holiday with value date first business day after the public holiday. However, such stock exchange trades will be settled on the day after the public holiday and will be confirmed in the Settlement List or the Clearing & Settlement Statement after the SDS23 cycle.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthaleralle 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. STD cycle – Standard cycle, Batch in CBF from 19:00 until approx. 21:00 CET for settlement of non-T2S instructions.
3. SDS2 cycle – Same Day Settlement 2, Batch in CBF from 13:15 until approx. 13:45 CET for settlement of non-T2S instructions.