Account number format change - Update

24.07.2019

This Announcement originally published on 31 January 2019 has been updated following the postponement of the activation of alphanumeric account numbers on the Creation platform in the interest of all customers to be sufficiently prepared for the new format. The new activation date will be communicated at a later stage. The changes have been highlighted.

Further to our Announcements A15116 and A15191, Clearstream Banking1 confirms to customers that Clearstream Banking S.A. (CBL) will extend the current pool of account numbers and update all business application to support an alphanumeric account number format for new Creation accounts. This will be also applicable for CBF-i 6-series accounts maintained in the CBL settlement system (Creation).

The new alphanumerical account numbering format will consist of five alphanumerical characters, starting with at least one digit followed by a combination of letters and numbers, for example: 1101D; 312AD; 6C12G.

The new format will complement and exist in parallel to the current five-digit numerical account format. New Creation accounts that are opened after the activation date could be opened either in the current existing numerical format or in the new alphanumerical format.

Alphanumerical account format

  • The account number assignment process is fully automated and algorithm-based, therefore, only an indicative start date can be defined for when alphanumeric accounts will be actually applied by Clearstream Banking.
  • Existing accounts will not be changed, this means only newly opened accounts could be alphanumeric in future.
  • There is no impact on the CBF CASCADE accounts so new and existing CBF CASCADE account numbers remain exclusively numerical.
  • On customer demand, additional CBF-i 6-series sub-accounts can be opened corresponding to a CBF CASCADE account. In this case, the new logic for assigning account numbers may also affect CBF customers. This means that for these additional CBF-i 6-series accounts, an alphanumeric account number can be assigned after the activation date. Please also refer to Announcement A19019.
  • CBF-i accounts opened in relation to CBF main accounts remain to be composed of the CBF main account number plus a leading “6”.
  • All CBF-i 6-series accounts will continue to start with “6”.

Impact on customers

The application and use of the new alphanumerical format will not occur before the activation date.

However, in order to maintain current business operations when the alphanumerical format becomes operational, customers are reminded to assess their operational and technical readiness, and address necessary system enhancements to process account numbers in both numerical and alphanumerical formats.

Customers are requested to validate their procedures for the management of, for example, settlement instructions, corporate actions messages for income and non-income events or invoices and including the automated communication channels used for in- and outbound CBF message flows because they may contain alphanumerical account numbers in the future.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. This announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.