IFS: Enhancement of the hold/release feature for transfer instructions - Update

Note: This announcement, originally published on 13 October 2023, has been updated to provide clients with further information on settlement instructions. Changes have been highlighted.

Clearstream Banking¹ informs clients that effective

20 November 2023

if a settlement transfer instruction initial stage is set “on hold” (:70E::SPRO///HOLD/ or :23G::PREA ) the transfer instruction will not be forwarded to the counterparty for processing.

As soon as the instructions are amended and released (:70E::SPRO///RELEASE/ or 530 with :22F::SETT//YPRE) by the client, the transfer will be initiated by Clearstream Banking.

For the avoidance of doubt, if the “on hold” status is not specified in the original instruction or is added at a later stage, the instruction will be processed as per its original status and the amended status will not be taken into consideration. A transfer instruction cannot be cancelled using the “on hold” status.

Further information

For further information, please contact as appropriate:

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.