Year-end processing and instruction deadlines 2021

24.11.2021

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 2020 and 1 January 2021, usually Clearstream Banking non-business days, fall on a Saturday.

Therefore, the night-time processing on Friday 24 December 2021 (between Clearstream Banking and Euroclear Bank) will be delayed and run on Saturday 25 December 2021 in the afternoon. End of night reports will be available on Saturday 25 December 2021 EOD.

The night-time processing on Friday 31 December 2021 (between Clearstream Banking and Euroclear Bank) will be delayed and run on Saturday 1 January 2022 in the afternoon. End of Day Reports will be available on Saturday 1 January 2022 EOD.

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 2021 or 1 January 2022 will not be processed for settlement until the next Clearstream Banking business day, being 27 December 2021 or 3 January 2022, respectively.

As a consequence, for all internal and Bridge instructions, the debit and credit of cash will be given the value of 27 December 2021 or 3 January 2022, 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 2021 or 1 January 2022 will be the first Clearstream Banking business day following the Clearstream non-business day, being 27 December 2021 or 3 January 2022, 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 2021 or 1 January 2022, the cash countervalue of the trade will be debited with value 25 December 2021 or 1 January 2022, respectively. The debit of cash in Clearstream Banking will be booked on 27 December 2021 or 3 January 2022, respectively.
  • For delivery instructions that settle on the market on 25 December 2021 or 1 January 2021, the cash countervalue of the trade will be credited with value date 27 December 2021 or 3 January 2022, respectively. The credit of cash in Clearstream Banking will be booked on 27 December 2021 or 3 January 2022 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:

Canada

Changed deadlines on 24 and 31 December 2021.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

Mexico

Changed deadlines on 24 and 31 December 2021.

Clearstream Banking deadlines are as follows:

Cash payments

VD 18:00

Settlement instructions against payment

VD 18:00

Settlement instructions free of payment

unchanged

Peru

Changed deadlines on 31 December 2021.

Cash payments

VD 15:30

United Kingdom

Changed deadlines on 24 and 31 December 2021.

Clearstream Banking deadlines are as follows:

24 December 2021

31 December 2021

Against payment - Securities deposited in Citibank UK

16:00

No change

Against payment - Gilts

16:00

No change

Cash pre-advices and withdrawals of funds

16:00

16:00

Important note for GBP cash deadlines on 31 December 2021

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 A21114.

Uruguay

Changed deadlines on 24 and 31 December 2021.

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 2021.

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 2021 and New Year's Day 2022

Clearstream Banking will be closed on Christmas Day 2021 and New Year's Day 2022.

Business will be as usual on 27 December 2021 and on 3 January 2022.

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 2022.

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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.