Freeze lifted from account static data
Clearstream Banking AG, Frankfurt1 would like to inform customers that effective
the freeze on all CBF account static data has been lifted in CASCADE one week ahead of schedule.
With the start of the pre-migration phase for TARGET2-Securities (T2S) wave 4, the entire CBF customer account structure needed to be stable and ready for the transfer. As additional changes would have increased the risk during the account and holding migration, a freeze was implemented on all CBF account static data starting 15 September 2016 to 24 February 2017.
On 17 February 2017 the four CSDs involved in wave 4 confirmed the reduction of the stabilisation period and the completion of the migration wave. Therefore the migration is officially completed.
Impact on customers
With the lifting of the freeze on Monday, 20 February 2017, CBF account static data can be set up and amended as before the freeze. With this, customers again have the entire portfolio available to open new securities accounts and customise their settings according to their needs, for example:
- Open account masters and sub-accounts;
- Request access rights;
- Install Power of Attorneys.
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.