T2S Release 5.0 – Deployment activities - Update


Note: This announcement and the related attachment, originally published on 7 May 2021 were updated to provide details from the current "T2S Deployment Playbook".

Following Announcement D21004, Clearstream Banking AG, Frankfurt1 informs customers about the TARGET2-Securities (T2S) Release 5.0 that will be deployed on

the weekend 12 and 13 June 2021
for business day Monday, 14 June 2021

This Announcement shows the intended timeline and modifications in the T2S Operational Day between Friday, 11 and Monday, 14 June 2021 for the deployment of T2S Release 5.0.

T2S Change Requests and T2S Problem Tickets

The lists of T2S Change Requests and T2S Problem Tickets (PBIs) attached to Announcement D21004 describe the scope of T2S Release 5.0. 

Please note that only Problem Tickets are listed that might have impact on CBF customers acting in ICP and / or DCP mode. Nine PBIs, that can also affect CBF customers, have been authorised for implementation with T2S Release 5.0.

Impacts on the CBF Business Day for the T2S Release 5.0 Deployment Weekend

Due to the “T2S Release Weekend Schedule” the timeline of the operational day and respective reporting during the T2S deployment weekend will be changed.

With this Announcement, CBF customers receive the current schedule2 that highlights the processing during the deployment weekend. This attached timeline is based on the timeline announced in the latest version of the T2S Playbook for the deployment weekend.

Based on the most recent information provided, the following assumptions can be made:

  • Customers acting in ICP mode and using the CBF connectivity channels via SWIFT, MQ, File Transfer (FT) or ClearstreamXact need to consider that any instruction transmitted between Friday, 11 June 2021 at 20:00, and the finalisation of the Clearstream Banking implementation phase on Sunday, 13 June 2021 at around 06:00, will be queued in the backend systems. Only customers transmitting instructions via SWIFT to CBF will receive an acknowledgement upon receipt of the instruction based on their existing message subscription.
  • The opening hours of the Clearstream Online functionalities will be modified. The CASCADE HOST / PC frontend and Xact Web Portal will be available until Friday, 11 June 2021 at 20:00. After this, customers are requested not to enter, modify or cancel instructions. In the course of Sunday, 13 June 2021, the systems will be re-opened between 06:30 to 11:00.
  • Customers acting in ICP mode and using an automated connectivity channel (SWIFT, MQ or File Transfer (FT)) to receive the CBF settlement reporting are requested to check the modified reporting times, where applicable. CBF will provide the files according to the existing message subscription. Depending on the T2S Release 5.0 timeline, files might be empty and will be transmitted only if empty reports are ordered. In addition, the customer’s technical infrastructure should accept and store the provided files. Otherwise, the information / data will be lost. CBF recommends accepting files at any time during the T2S Release Weekend.
  • Customers acting in DCP mode must be prepared to use the updated XML scheme (XSD) once T2S Release 5.0 has been successfully implemented. Any instruction that will be transmitted to T2S:
    • On Friday, 11 June 2021 before 20:00, and is accepted by T2S will be converted by T2S. Once the deployment activities are complete, the instruction is processed using the modified processes. The corresponding reporting is sent based on the new XSDs / formats.
    • On Friday, 11 June 2021 after 20:00 must take the new XSD / format into account. If the latest definitions are not used, the instruction will be rejected when T2S reopens after the software deployment.
  • On Friday, 11 June 2021 at 20:00, T2S will close the online functionality (T2S GUI, U2A) and the “Straight Through Processing” channels (STP, A2A). On Sunday, 13 June 2021 at 11:00, T2S will start its maintenance window. Incoming instructions that will reach T2S during the deployment phase or maintenance window are queued.
  • Customers acting in DCP mode should note that the schedule for the T2S maintenance window has been modified due to the deployment weekend. On Sunday, 13 June 2021 at around 21:00, the weekend maintenance window will be closed and the T2S RTS cycle will be started.
  • Customers acting in DCP mode and using the “YCON” procedure to receive real-time settlement reporting via CBF need to consider that these messages will be transmitted on Sunday, 13 June 2021, after CBF has started to provide the settlement results in ICP mode.
  • For the processing via KADI (CBF in its role as Issuer CSD) and Custody (OneClearstream markets), the following processing applies. Settlement instructions resulting from corporate actions processing will be created on Friday, 11 June 2021, in line with the regular business day and presented to T2S before the system will be closed for the deployment activities. On this processing day, customers will receive Corporate Actions messages (MT564, MT568) only from 23:00, deviating from the regular transmission time (that is, 19:30). Additionally, the transmission times of Corporate Action Confirmations (MT566) will be modified. The reporting, which is generated via Custody and KADI can be provided on Sunday, 13 June 2021 after 06:00 until the maintenance windows will start (at around 11:00).
  • In general, the processing at Clearstream Banking S.A., Luxembourg (CBL) is not impacted by the T2S Release Weekend procedure. The procedures in CBL regarding the settlement of DvP instructions in foreign currencies, stock exchange trades in non-collective safe custody (NCSC) as well as for the markets included in the Local Market Partner (LMP) concept will continue to run in the existing business as usual mode. However, the securities settlement of instructions against a foreign currency will shift. The cash management at CBL will be conducted according to the CBL timeline and the cash settlement result will be presented to CBF. CBF will queue these results. The settlement of the securities leg will be possible once CBF transmits the release instruction for the “CoSD Hold” to T2S. Therefore, the reporting of the cash settlement and securities settlement will be provided at different times.
  • CBF’s processing with the T2S Out-CSDs DTCC and SIX SIS will remain unchanged. Customer settlement instructions will be forwarded to these CSDs in accordance with the market deadlines. Settlement results and feedback for pending instructions from these CSDs will be transmitted to T2S once CBF releases the queued instructions for the T2S Real-time Settlement (RTS) cycle scheduled for Sunday, 13 June 2021.

CBF customer communication on the T2S Release 5.0 Deployment Weekend

Before and during the T2S deployment weekend, “Operational News” will be published on the Clearstream website, to which CBF customers can subscribe to be informed about the progress of the implementation of T2S Release 5.0. The following table provides an overview of the planned "Operational News" and respective "Alerts". Customers who would like to be informed constantly on the progress can set up the subscription of "Alerts" for "Operational News" in the MyClearstream section under Subscriptions / Real-time alerts.

Envisaged customer communication “T2S Release 5.0 Deployment Weekend“

Operational News


Due date / time (CEST)


T2S Release Weekend Schedule
Latest status for planning

Monday, 7 June 2021a


Completion of CBF End of Day Processing
Friday, 11 June 2021

Friday, 11 June 2021, 19:30


T2S - End of processing of incoming messages

Friday, 11 June 2021, 20:15


Green Light for T2S Software Deployment

Friday, 11 June 2021, 20:30


Start of Transmission (A2A)b
T2S Settlement Messages / Reports

Saturday, 12 June 2021, 18:30


Start of Transmission
Clearstream Settlement Reporting

Sunday, 13 June 2021, 07:00


Completion of T2S Real-Time Settlement (RTS) and Start of Maintenance Windows

Sunday, 13 June 2021, 11:15

a. The operational news will be published in the course of the day.
b. Based on the current "T2S Deployment Playbook", the transmission will be possible from 18:00 at the earliest.

Once an above-mentioned milestone has been achieved, CBF will promptly publish the “Operational News” with the updated status in English. An alert will inform subscribed users about the publication of the operational news.

CBF Indicative Timeline for the T2S Release 5.0 Deployment Weekend

The attached timeline indicates the changes in the CBF operational schedule during the T2S Release Weekend.

The timeline created by CBF is based on the timeline announced in the latest version of the T2S Playbook for the deployment weekend provided beginning of April 2021. The plan covers the period from Friday, 11 June 2021, at 15:45 to Monday, 14 June 2021, at 06:00. Events and processes before and after this specific period can be considered as unchanged. To indicate the changes, a column “Revision” is available. It shows:

Processing in line with daily operational schedule

Process / reporting will not be executed

Process ahead compared to daily operational schedule; see revised time

Process postponed compared to daily operational schedule; see revised time

Publication Operational News

Notes for the start in production

Based on CBF's implementation approach, the new T2S services will be supported and activated during the implementation weekend.

During the release weekend, the processing timeline will be changed because of the implementation of some of the functional enhancements. This information is part of the Announcement D21004.


For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer. Particular questions related to this Announcement will be routed to the experts of the T2S Settlement Functionality team.


1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. All times in the Announcement are specified in Central European Summer Time (CEST).
3. The operational news will be published in the course of the day.