T2S Final Wave - Iberclear: Functional modifications and migration procedures


Note: The "Indicative timeline for T2S Final Wave Migration Weekend" attached this announcement was replaced by the most recent version.

Further to the pre-announcement D17030, dated 5 May 2017, Clearstream Banking AG, Frankfurt (CBF)1 informs customers about the scheduled functional changes related to the use of Party Levels as well as the measures and timeline for the migration of Iberclear, the Spanish CSD (central securities depository), to TARGET2-Securities with the T2S Final Wave on

18 September 2017.

Also, CBF would like to confirm that any other modifications that were announced earlier have meanwhile been validated with Iberclear. These changes shall be taken into account for the upcoming T2S Final Wave Business Day testing stage and later on in production.

The documents attached to this announcement outline

  • The future use of Party Levels with Iberclear;
  • The current plan for the T2S Final Wave migration procedures covering an indicative timeline;
  • The CBF customer communication plan.


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.