New Zealand: Change to Standard Settlement Instructions (SSI)

05.02.2020

Clearstream Banking1 informs customers that due to the Reserve Bank of New Zealand’s (RBNZ) NZClear system upgrade that will take place on 24 February 2020, new counterparty mnemonics will apply in the market for the identification of settlement counterparties from

24 February 2020

Impact on customers

Customers are required to advise their counterparties of Clearstream Banking’s new SSI to ensure the timely settlement of their trades. Clearstream Banking’s new SSI will be updated and effective as per the below for trades with a settlement date falling on 24 February 2020 onwards.

Procedure for the domestic counterparty (Current)

Deadline

JPMorgan Chase Bank, N.A. (New Zealand Branch) -
NZClear mnemonic: CHAM24
In favour of: CEDELULL, A/C 1783-0001-11-05

Market deadline

Procedure for the domestic counterparty (Effective 24 Feb 2020)

Deadline

JPMorgan Chase Bank, N.A. (New Zealand Branch) -
NZClear mnemonic: CHAM
In favour of: CEDELULL, A/C 1783-0001-11-05

Market deadline

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer. The Market Link Guide - New Zealand will be updated on 24 February 2020.

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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.