OneClearstream migration to ESES

11.04.2019

As previously communicated in Clearstream Banking's1 Announcement C19008, Clearstream Banking S.A. (CBL) will further enhance its settlement flow by increasing the coverage of T2S eligible securities via its link through Clearstream Banking AG (CBF) as its single gateway to the T2S Settlement platform. This will lead to the migration of multi-listed T2S-eligible securities and some not yet migrated ESES T2S eligible securities from CBL’s link to ESES via BNP Paribas Securities Services to CBF effective

24 June 2019

This forms part of our ongoing efforts to harmonise our services allowing customers to benefit from advantages across multiple areas of our business.

Multi-listed securities in scope of this migration are mainly those with a home code T2S-Out (for example, Canada, Ireland, UK/CREST, Sweden, Norway, ICSD) for which CBL has a direct link to the home market and a remote link with T2S-In markets (ESES markets).

Clearstream Banking will access ESES for multi-listed securities via CBF in T2S as follows:

Country

CSD

Type of link

T2S -Out home markets in scope are, but not limited to:

ESES

Euroclear France, Netherlands, Belgium

Direct link to Clearstream Banking AG, Frankfurt for holding  ESES eligible multi-listed securities

Canada, Ireland, UK (CREST), Sweden, Norway, ICSD (CBL) securities with a remote common code on depositories 23, 2N and 4B

Updated formats and details about realignments between home and remote or vice-versa will be published in the Multi Market securities guide in due course.

Also, Clearstream Banking will access ESES for settlement of the not yet migrated T2S eligible ESES securities via CBF as follows:

Country

CSD

Type of link

Eligible securities

ESES

Euroclear France, Netherlands, Belgium

Direct link to Clearstream Banking AG, Frankfurt for holding ESES eligible multi-listed securities

Selected ESES T2S eligible securities

Please refer to the PDF attached below for more information on the scope of securities relevant for the migration and the impact on customers and their counterparties highlighting specific details on the migration.

Further information

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.