Settlement times - Irish equities, corporate bonds and other instruments
The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.
Important Note: As part of CBL’s internal compliance procedures, all incoming customer instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the customer via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, customers are advised to input instructions at least 15 minutes before the associated deadline.
All times are given in Central European Time.
| Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
| start | end | from | to | value | |||
| AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
| Equities and other eligible securities held through CRESTa | |||||||
| Receipts | FOP | 21:30 SD-2 | 18:25 SD | 18:25b SD | 07:00 SD | 20:00 SD | |
AP | 21:30 SD-2 | 15:20 SD | 15:20 SD | 07:00 SD | 18:00 SD | SD | |
| Deliveries | FOP | 21:30 SD-2 | 18:25 SD | 18:25b SD | 07:00 SD | 20:00 SD | |
AP | 21:30 SD-2 | 15:20 SD | 15:20 SD | 07:00 SD | 18:00 SD | SD | |
a. On Irish bank holidays, settlement of Irish securities is generally available in CREST with the exception of transfers of Kerry Group Plc shares (IE0004906560) where securities may be disabled from settlement on such days. Full details are available in the Cash and Securities Holidays.
b. Cross-border transfers from/to the CREST system to/from Euroclear Bank: customers are recommended to send their free of payment cross border instructions to Clearstream Banking on SD-1.
Matching fines
To minimise the risk of matching fines in CREST on transactions on Irish securities that are in scope of CREST settlement discipline, all customers are recommended to send their free of payment and against payment instructions by 14:00 on SD-1.