South Africa: Enhancements to allow for additional settlement transaction types in domestic settlement instructions

24.10.2018

Clearstream Banking1 advises customers that, with effect from

Monday 19 November 2018

there will be several enhancements made to the domestic settlement instruction format in South Africa to allow for additional settlement transaction types to be sent to Clearstream Banking’s depository, Standard Chartered Bank, Johannesburg Branch. This enhancement will allow customers to achieve higher straight-through processing rates and to improve their overall settlement efficiency for this market as customers were advised in the past to include the transaction type information in the narrative field :70E: of their instructions.

Settlement instruction formats

Customers should use the following in their settlement instructions to Clearstream Banking for the following types of transactions:

For account transfers – MT540 and MT542

Xact via SWIFT and Xact File Transfer

Xact Web Portal

CreationOnline

Settlement Transaction type:

:22F::SETR//OWNI or OWNE

Sec. transaction type:

OWNE - External account transfer

or

OWNI - Internal account transfer

Settlement Processing Narrative:

Internal Account Transfer or External Account Transfer

For securities lending – MT540 and MT542

Xact via SWIFT and Xact File Transfer

Xact Web Portal

CreationOnline

Settlement Transaction type:

:22F::SETR//SECL or SECB or COLI or COLO

Sec. transaction type:

SECL - Securities lending or

SECB - Securities borrowing or

COLI - Collateral In - Held by Collateral Taker or

COLO - Collateral Out - Held by Collateral Giver

Type of Settlement Transaction:

Securities Lending or Securities Borrowing or Collateral In or Collateral Out

For Off Market Repo – for all messages types (MT540, MT541, MT542 and MT543)

Xact via SWIFT and Xact File Transfer

Xact Web Portal

CreationOnline

Settlement Transaction type:

:22F::SETR//REPU

Sec. transaction type:

REPU - Repo

Type of Settlement Transaction:

Repo

Impact on customers

Customers are requested to take note of the changes and to send timely and proper settlement instructions to Clearstream Banking to avoid settlement delays.

Further information

The Market Link Guide - South Africa will be updated accordingly to reflect the changes.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

 

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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.