Settlement Timings Matrix

17.11.2017

This Settlement Timings Matrix is a quick reference guide for all markets covered by Clearstream Banking S.A. (CBL) via the Creation platform.

For more detailed information about the domestic cash and securities services provided by CBL, please refer to the Market Coverage for the respective market.

Settlement and cash deadlines are aligned with local times, which means that CBL takes into account daylight saving time (DST) changes around the world when setting its Central European Time (CET) deadlines. This enables customers to benefit from extended CET deadlines whenever possible.

A new version of this document will be available in October each year.

Unless otherwise indicated, all timings are given in CET.


The table below shows the input deadlines for:

  • Internal transactions (those between two Clearstream Banking accounts);
  • Bridge transactions (those between a Clearstream Banking account and an account in Euroclear Bank).

Instructions are settled in Clearstream Banking during the night-time processing and on a real-time basis throughout the day with a final processing at the end of the day.

The table shows the latest deadlines for inclusion of instructions in the mandatory and optional settlement period processings.

ReceiptsDeliveries
Free of PaymentAgainst PaymentFree of PaymentAgainst Payment
Internal
For mandatory settlement only (in all currencies except ARS, CAD, GBP, MXN, PEN and USD)

16:00  SD

16:00 SD

For mandatory settlement only (in ARS, CAD, GBP, MXN, PEN and USD)

18:00 SD

18:00 SD

for mandatory settlement20:00 SD20:00 SD
for optional Settlement20:00 SD20:00 SD
Bridge
for mandatory Settlement only (in all currencies except ARS, CAD, EUR, GBP, MXN, PEN and USD)

13:50 SD

13:50 SD

for mandatory Settlement only (in EUR and GBP)

15:20 SD

15:20 SD

for mandatory Settlement only (in ARS, CAD, MXN, PEN and USD)17:00 SD17:00 SD
for mandatory Settlement

18:30 SD

18:30 SD

for optional Settlement18:30 SD18:30 SD
Securities credit/debitSDSDSDSD
Cash credit/debit /SD/SD
Cash Value Date/SD/SD

Note: To maximise settlement efficiency, CBL recommends that internal and Bridge instructions are submitted by 20:55 on SD-1 in order to be processed in the succeeding overnight processing