Ireland: Migration of corporate securities to Euroclear Bank
Further to the Announcement A21036, Clearstream Banking1 would like to inform customers of the process and impacts related to the migration of Irish corporate securities from Euroclear UK & Ireland (EUI) to Euroclear Bank.
Migration impacts on customers
Settlement deadline on 23 April 2021
On 23 April 2021, to facilitate the market migration process, an early deadline of 15:20 CET will apply for customers’ against payment and free of payment instructions with domestic counterparties with settlement date 23 April 2021.
Migration and handling of pending domestic instructions
Clearstream Banking will proceed with the migration of settled positions to Euroclear Bank from 15:20 CET onwards on 23 April 2021. All domestic instructions that settled in EUI by 15:20 CET on that date will be considered for the migration.
All pending unmatched domestic instructions will be cancelled by Clearstream Banking after the start of the migration at 15:20 CET. Customers are requested to reinstruct with the new formats after 21:30 CET on 23 April 2021.
All pending matched domestic instructions at 15:20 CET will settle in EUI unless bilaterally cancelled by the customers and their counterparties. Customers are requested to ensure that these instructions either settle as soon as possible or are cancelled by both counterparties.
Securities to be migrated
The list of securities positions of which will be migrated to Euroclear Bank is attached to this announcement.
For further information, customers may contact Clearstream Banking Client Services or 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.