Settlement times - Irish equities, corporate bonds and other instruments

15.03.2021

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 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.