Announcement

Investment Funds: Unlock faster settlement - New MX connectivity for investment fund transfers

Investment Fund Services

Reference

Code
F24003
Service level
CFCL
Last Updated
01.10.2024

Clearstream Fund Centre (CFCL)1 informs clients that, effective

18 November 2024

a new type of connectivity for transfers, transfers placed via MX messages, will be introduced.

Transfers placed via MX messages (ISO 20022)

This enhancement will enable CFCL to send and receive transfer instructions to the market via MX messages.

This enhancement will not only benefit the transfer agents, but also the distributors. The new connectivity will significantly enhance CFCL’s settlement process, allowing for faster transactions and even same-day settlement. This improvement is aimed at providing investors with more efficient market timing and service.

Clients can see the MX messages below that are in scope for transfer agents as well as the standards to follow.

Outbound - CFCL to TA

  • MX Transfer Out Instruction (sese.001.001.09)2
  • MX Transfer In Instruction (sese.005.001.09)2
  • MX Transfer Out Cancellation Request (sese.002.001.09)3
  • MX Transfer In Cancellation Request (sese.006.001.09)3

Inbound - TA to CFCL

  • MX Transfer Out Confirmation (sese.003.001.09)2
  • MX Transfer In Confirmation (sese.007.001.09)2
  • MX Transfer Cancellation Status Report (sese.010.001.07)3
  • MX Transfer Instruction Status Report (sese.011.001.09)3

Note: For all new message types, the reference field lengths are limited to 16 characters.

Next Steps

Transfer agents who can accept the above standards and are willing to implement the new MX connectivity should contact investfundstransfers@clearstream.com to plan testing starting in Q1 2025.

Further information

Further information is available from your dedicated Relationship Manager or CFCL's Client Services teams.

CFCL
Vestima Client Services

Email:

csvestima@clearstream.com

Telephone:

+352-243-32833

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1. CFCL refers to Clearstream Fund Centre 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-261691.

2. Will follow NMPG-GB-IF-IUH-Transfers-Nov24 Usage Guidelines (see MyStandards).

3. Will follow Swift SMPG standards.