Xact Web Portal: Modifications with T2S Release 3.0

04.06.2019

In Announcement D19005, Clearstream Banking AG, Frankfurt1 informed customers about the upcoming TARGET2-Securities (T2S) Release 3.0. According to the T2S Release Concept, the various T2S Change Requests will be deployed on

the weekend 8 and 9 June 2019
for business day Monday, 10 June 2019

The Xact Web Portal will be enhanced to deliver the various services provided in the scope of T2S Release 3.0 and for settlement functionality. This Announcement details the enhancements related to:

  • The T2S reporting of the Settlement Finality timestamps;
  • The usage of the ISO Transaction Type "Buy-In" for settlement activities on T2S;
  • Additional reference types contained in the T2S messages added in the Clearstream business area "Collateral Management";
  • The new Settlement Transaction Condition "Not Accounting Related (NACT)".

Description of the changes

T2S reporting of the Settlement Finality timestamp

A new field "T2S timestamp" will be introduced in the Xact Web Portal instruction view. This field will contain information about the processing steps related to the settlement finality of a settlement instruction. T2S will transmit the timestamp when the instruction is accepted (Settlement Finality (SF) 1) and will transmit another timestamp once it is matched (Settlement Finality (SF) 2). The T2S timestamp will be shown in the detailed view if feedback is received from T2S. Otherwise this field will be empty.

Usage of the ISO Transaction Type "Buy-In" for settlement activities on T2S

Announcement D19005 outlines that CBF will introduce the "Buy-In Indicator" in the CASCADE instruction management. Customers acting in ICP mode using the CASCADE Online functionality (HOST / PC) or the automated connectivity channels based on ISO 15022 will enter the new value "BYIY".

Customers who use the Xact Web Portal and would like to mark an instruction applicable for the "Buy-In" procedure must consider that the value "BIYI" is used as the Xact Web Portal is based on ISO 20022. With a future release, SWIFT will harmonise these values. Long-term, only the value "BYIY" is supported.

Example for entering the value “BIYI” in the Xact Web Portal:

Additional reference types in the Clearstream business area "Collateral Management"

Based on the definition provided by SWIFT for references, new values will be added in the drop-down list for "Reference type" in the query screen.

SWIFT codeValue displayed in Xact Web PortalUsage
CLCIClients Collateral Instruction IdentificationThis reference will be reported back on Triparty Collateral Management settlement instructions as received on MT527.
CLTRClient’s Triparty Collateral Transaction IdentificationThis field contains the customer's collateral management transaction reference.
TRCITriparty Agent’s /Service Provider’s Collateral TransactionThis field contains the Clearstream's reference of the Triparty Collateral Management.
TCTRTriparty Agent’s /Service Provider’s Collateral Instruction 

The query screen will be updated as shown below:

New reference added in settlement transaction condition "Not Accounting Related (NACT)"

A new code word for the automated connectivity channels in the sequence "Settlement Transaction Condition" will be introduced The new value "NACT" that will be used to indicate that the transaction is not for accounting will be also available via the Xact Web Portal.

The input screen will be updated as shown below:

Further information

For further information, please contact the Clearstream Connectivity Helpdesk or your Relationship Officer. Particular questions related to the T2S Release 3.0 will be routed to the experts of the T2S Settlement Functionality team.

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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.