Singapore: Mandatory use of fields :94B: and :22F: - update
Note: This announcement, originally published on 1 September 2015, is now updated to reflect a new effective date.
Following information from the Singapore Exchange (SGX), customers are advised that the effective date has been postponed to 1 July 2016 (updated from the previous effective date of 16 November 2015.)
Further to our announcements A14145, dated 27 November 2014, and A14073, dated 21 May 2014, and following information from the Singapore Exchange (SGX), Clearstream Banking1 advises of an updated effective date of
1 July 2016
at the Central Depository (CDP) for the use of the following two SWIFT fields. The latter are already mandatory in Clearstream Banking on all MT540 (Receive Free), MT541 (Receive against Payment), MT542 (Deliver Free) and MT543 (Deliver against Payment) instructions, and in the equivalent fields in CreationOnline Securities Instructions:
- field :94B: (Place of Trade);
- field :22F: (Type of Settlement Transaction).
Clearstream reminds customers that this is to facilitate the reporting of both pieces of information to SGX in order to comply with their requirement that instructions pursuant to trades on SGX-ST or SGX-approved exchanges are reported as “on-exchange” or “off-exchange”. Customers are requested to note that these reporting requirements apply to both corporate bond and equity transactions.
Impact on customers
Customers are requested to note the new effective date (Settlement Date 1 July 2016) at the Central Depository (CDP) for the use of the two SWIFT fields :94B: and :22F for equities and corporate bonds.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and 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.