Standard for Retail Business instructions in the German market

26.10.2017

In February 2017, Clearstream Banking AG, Frankfurt1 migrated to T2S with Wave 4. During the past months, CBF carefully monitored instruction flows with T2S. Additionally, the match efficiency is regularly analysed and evaluated. Besides the match efficiency, the match quality is an important factor to ensure the overall settlement quality.

Based on these results and the observations made by our customers, the CBF Advisory Board recommended to define rules for the setup of Retail Business instructions in the German market. These rules are intended to consider the opportunities established by T2S to optimise the settlement results. That is, the T2S optional matching criteria should be actively used and the notification of client’s details in up to five Party Levels in strongly recommended.

Starting on

April 2018

the market standard defined in the attached announcement will apply for Retail Business instructions with German market participants. The rules that are defined in the announcement will become applicable for domestic and cross-border instructions.

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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.