Year-end processing and instruction deadlines 2019

30.12.2019

Note: This announcement, originally published on 13 November 2019 and updated on 17, 19, 20 and 27 December 2019 has been updated to remove Argentina.

Clearstream Banking1 reminds customers of the impact of the year-end processing holidays on settlement and cash.

All times in this Announcement are Central European Time (CET).

Clearstream Banking year-end processing

25 December 2019 and 1 January 2020 will be Clearstream Banking non-business days.

The night-time processing on 24 December 2019 (between Clearstream Banking and Euroclear Bank) will be delayed and run on 25 December 2019 at 21:00. End of Day Reports will be available at the usual time.

The night-time processing on 31 December 2019 (between Clearstream Banking and Euroclear Bank) will be delayed and run on 1 January 2020 at 21:00. End of Day Reports will be available  at the usual time.

Instruction timings for Clearstream Banking customers

Please pay special attention to the following details related to securities instructions that contain a requested settlement date that is the same as a Clearstream non-business day.

For domestic, internal and Bridge instructions, the following special procedures will apply.

For internal and Bridge instructions:

  • Instructions received with a requested settlement date of 25 December 2019 or 1 January 2020 will not be processed for settlement until the next Clearstream Banking business day, being 26 December 2019 or 2 January 2020, respectively.

As a consequence, for all internal and Bridge instructions, the debit and credit of cash will be given the value of 26 December 2019 or 2 January 2020, provided the instructions settle on those days.

For domestic instructions, the following special procedures will apply:

  • The effective settlement date for instructions with a requested settlement date of 25 December 2019 or 1 January 2020 will be the first Clearstream Banking business day following the Clearstream non-business day, being 26 December 2019 or 2 January 2020, respectively, under the condition that the instructions settle in the market with the requested settlement dates.
  • For receipt instructions that settle on the market on 25 December 2019 or 1 January 2020, the cash countervalue of the trade will be debited with value 25 December 2019 or 1 January 2020, respectively. The debit of cash in Clearstream Banking will be booked on 26 December 2019 or 2 January 2020, respectively.
  • For delivery instructions that settle on the market on 25 December 2019 or 1 January 2020, the cash countervalue of the trade will be credited with value date 26 December 2019 or 2 January 2020, respectively. The credit of cash in Clearstream Banking will be booked on 26 December 2019 or 2 January 2020 respectively.

Securities and cash instructions

Customers are reminded that processing holidays are shown in the Cash and Securities Holidays, which are updated as soon as information is available.

In the below-mentioned markets, however, exceptional deadlines or exceptional arrangements apply:

China

Special RMB Clearing Service Arrangement:

Clearstream Banking's RMB cash correspondent bank ICBC Luxembourg Branch announced a special closure on 23 and 24 December 2019. No RMB Clearing Services will be provided.

Customers are requested to use one of Clearstream Banking's alternative RMB cash correspondent banks on these dates.

Please refer also to the Cash Timings Matrix 2019-2020.

Canada

Changed deadlines on 24 and 31 December 2019.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

Colombia

Changed deadlines on 24  December 2019.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

The market will be closed on 31 December 2019.

Greece – ATHEXCSD (equities and corporate bonds)

Changed deadlines for securities transactions with a requested settlement date of 31 December 2019:

ATHEXCSD-eligible securities deposited in Citibank Europe Plc Greece branch

VD 12:55

Iceland

Changed deadlines on 31 December 2019.

Clearstream Banking deadlines are as follows:

Cash payments

VD 12:30

Settlement instructions 

VD 12:30

Mexico

Changed deadlines on 24 and 31 December 2019.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

Poland

Changed deadlines in the Polish Market on 24 and 31 December 2019.

Clearstream Banking deadlines are as follows:

Trading on WSE  and Bondspot

closed

Trading on OTCunchanged

All OTC transactions
(DVP, FOP, equities, T-bonds, T-bills, covered, corporate and municipal bonds)

10:30

Cash payments

11:30

Russia

1 - 8 January 2020 are Bank Holidays in Russia.

There will be no settlement on 1, 2 and 7 January 2020.

Rouble (RUB) against payment settlement will be possible on 3, 6 and 8 January only if the trades are instructed and pre-funded by 31 December 2019 at the latest.

United Kingdom

Changed deadlines on 24 and 31 December 2019.

Clearstream Banking deadlines are as follows:

 24 December 201931 December 2019
Against payment - Securities deposited in Citibank UK14:00No change
Against payment -Gilts14:00No change

Cash pre-advices and withdrawals of funds

14:00

16:00

Important note for GBP cash deadlines on 31 December 2019

Instructions transmitted after the above Clearstream Banking deadline, but for the same requested settlement date, could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.

For more details, please refer to Announcement A19134.

Uruguay

Changed deadlines on 24 and 31 December 2019.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

U.S.A.

Changed deadlines on 24 and 31 December 2019.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

Instructions transmitted after the above Clearstream Banking deadline, but for the same requested settlement date, could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.

The above-mentioned Clearstream Banking deadlines are valid provided that the customer’s instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, Clearstream Banking cannot guarantee timely settlement.

Christmas Day 2019 and New Year's Day 2020

Clearstream Banking will be closed on Christmas Day 2019 and New Year's Day 2020.

Business will be as usual on 26 December 2019 and on 2 January 2020.

Seasonal greetings

We would like to take this opportunity to wish all customers an enjoyable and peaceful end of year and a prosperous and happy 2020.

Further information

For further information please contact Clearstream Banking Client Services or your 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.