New Zealand: Lifting of Bridge settlement suspension for domestic debt securities - Update
Note: This announcement, originally published on 23 September 2022, has been updated to provide information on changes to the impact on customers. Changes have been highlighted.
Clearstream Banking1 informs customers that effective
30 September 2022
the ICSDs will reinstate Bridge settlement on New Zealand domestic debt securities.
Impact on customers
- Customers should contact their counterparties about the lifting of Bridge settlement suspension;
- Customers can proceed to instruct Bridge settlement trades for settlement from 30 September 2022;
- Customers can continue to settle New Zealand domestic debt securities via internal and external settlement;
- Customers should take note that any pending Bridge instructions that were sent for settlement prior to 30 September 2022 will be rejected by Clearstream Banking's system and need to be reinputed if applicable.
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.