Clearstream appoints Raiffeisen Bank International AG as agent in Hungary

Clearstream has appointed Raiffeisen Bank International AG (RBI) as its new agent to operate the direct account of Clearstream with Hungary's CSD, KELER Ltd.

From 30 March 2015, all Hungarian transactions from Clearstream customers will be executed through RBI.

ING in Hungary will remain as Clearstream's cash correspondent bank for the Hungarian Forint.

Customers will benefit from extended deadlines for cash instructions and securities settlement. Cash deadlines will be extended 105 minutes to VD 16:00 CET, while settlement deadlines for free of payment (FOP) trades will be 15 minutes longer at SD 17:40 CET, and for against payment trades settlement deadlines will be extended by 90 minutes to SD 15:45 CET.