Settlement times - Irish equities, corporate bonds and other instruments

21.04.2020

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.

InstructionProvisioningDeadline for receipt of valid instructionExpected settlement results
startendfromtovalue
AP=Against payment FOP=Free of payment SD=Settlement date
Equities through CRESTa
ReceiptsFOP21:30
SD-2
18:25
SD
18:25
SD
07:00
SD
20:00
SD
 
AP21:30
SD-2
15:20
SD
15:20
SD
07:00
SD
18:00
SD
SD
DeliveriesFOP21:30
SD-2
18:25
SD
18:25
SD
07:00
SD
20:00
SD
 
AP21:30
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.

Matching fines

To minimise the risk of matching fines and in consideration of the fact that the settlement cycle for Irish equities is T+2, all customers are recommended to send their free of payment and against payment instructions by 14:00 on SD-1.