United Kingdom: Additional Euro (EUR) settlement information

27.01.2021

Following Announcement A20159, Clearstream Banking1 would like to provide customers with further information on Euro (EUR) settlement in Euroclear UK & Ireland (EUI).

EUI have announced that they plan to continue central bank money-based EUR settlement through alternative arrangements which they plan to have in place effective

29 March 2021

when the current arrangements to access TARGET2 expire.

Impact on customers

Unless otherwise announced, customers can continue to settle through Clearstream Banking against payment instructions in EUR with counterparties in CREST both on Clearstream Banking’s direct link for UK gilts and its indirect link for UK and foreign corporate securities.

Further information

Clearstream Banking will continue to monitor the situation and inform customers of further developments.

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.