New Syndicated DVP Closing model – New implementation date
The ICSDs announced on 21 April 2021, their intention to implement a new model for the settlement against payment of syndicated distributions by late Q4 2021 - after extensive discussions between both ICSDs, their respective clients, as well as with the wider Primary Market community.
After due consideration, the ICSDs have discussed and agreed to postpone the intended launch date to 14 March 2022. The ICSDs have taken into consideration the potential challenges this timing could create due to high market volumes. We therefore recommend that this launch date be considered when deals are being prepared – in an attempt to limit, (to the extent possible) the number of closings during this launch period.
If you have any comments or questions about the above information or about the new syndicated distribution model, please contact your Clearstream relationship manager or newsyndicateddvpmodel@clearstream.com.