OneClearstream: Activation of a new custody value in CBF for non-collective safe custody securities
As a next milestone in implementing its enhanced Investor-CSD solution, effective
24 June 2019
Clearstream Banking AG, Frankfurt1 would like to inform customers that a new custody value, NCSC-T (non-collective safe custody securities to be settled via T2S), will be available allowing CBF to increase its range of T2S-eligible securities.
Currently, non-collective safe custody securities (NCSC) can only be held in CBF 6-series (CBFi) or CBL accounts. With the activation of the new custody value NCSC-T, customers will be able to hold NCSC securities on their CASCADE accounts.
This new custody value will allow CBF to extend the scope of OneClearstream T2S-eligible securities in CASCADE. This includes, but is not limited to, the below categories:
- T2S-out issued securities that do not qualify for the CSC status2;
- T2S-in issued securities that do not qualify for the CSC status2;
- Eurobonds (time-line to be announced).
The exact list of securities that will be made eligible in CBF under OneClearstream program will be provided before the migration.
NCSC-T securities will be subject to OneClearstream Asset servicing.
CBF encourages customers to ensure that their organisational and technical procedures allow the new custody value to be processed by the activation date. For further details, please refer to the updated version of the OneClearstream Functional Specifications (Section 3.7).
The new NCSC-T value will introduce changes affecting the following areas:
- Securities static data;
- Account structure;
- CCP/stock exchange settlement;
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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.
2. T2S-out or T2S-in issued securities will be made eligible through the CBF links with the already migrated OneClearstream markets (for example, ESES markets).