CFF: BlackRock ICS funds important changes – Clearstream Banking cut-off
Clearstream Banking1 informs customers that effective
BlackRock ICS funds denominated in USD will change the Clearstream Banking cut-off.
All customers of Clearstream Banking that hold positions in these investment fund shares will continue to benefit from the CFF process and services.
Please refer to attached spreadsheet
Fund Issuance Account (FIA):
Timeline for process adaptations
- J.P. Morgan Bank Luxemburg and BlackRock agreed to implement an additional cut-off for Vestima trades for attached BlackRock and Institutional Cash Series T+0 funds denominated in USD. The agreed cut-off is 17:00 CET. All orders received after this cut-off will be rejected and need to be resubmitted by customers on the following day.
- To benefit from the entire settlement day cycle customers should ensure to set the settlement flag to “optional” as especially settlement for USD denominated funds is likely to occur in the optional settlement period given the fund cut-off times.3
For more detailed information about CFF please refer to the Clearstream Banking Customer Handbook.
For further information, please contact as appropriate:
For more general information regarding Clearstream Banking products and services, customers may contact their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking 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-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
2. Customers can use the Fund Market Account of CFF (“FMA01”) as Counterparty account in their settlement instructions.
3. Please refer to the Settlement Timings Matrix on the website.