CSDR changes go live on 14 May 2018
Further to our previous communication on CSDR Customer Readiness, Clearstream Banking1 informs customers that a series of CSDR changes will go live on 14 May 2018.
The main changes to the previous document are:
- The CSDR-compliant rules for custody payments for CBF Legacy customers will only be implemented on 28 May 2018. CBF has taken this decision in order to avoid any disruption to currently ongoing intensive dividend season.
Note: CSDR-compliant changes will be implemented for ISINs that have migrated to CBF OneClearstream and for all activities on the CBF-i accounts.
- Suspension of settlement – if an undue creation or deletion of securities cannot be resolved within a defined time period - will only be applied by all Clearstream group CSDs upon authorisation of the respective CSD.
- The Clearstream group of CSDs will provide all reconciliation-related reports as from 14 May 2018. Customers, transfer and issuer agents will have to comply with the reconciliation requirements once the CSDR compliant GTCs of the respective CSD will go live.
The governing documents such as Customer Handbooks are currently be updated and will be published in due course.
For further details, please refer to the CSDR Customer Readiness document.
For further information, please contact Clearstream Banking Client Services or your 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.