Extension of T2S Partial Settlement Windows


Clearstream Banking AG, Frankfurt1 informs customers about the extension of two T2S Partial Settlement Windows during the Real-Time Settlement period effective

Monday, 9 December 2019

in the T2S production environment.


In November 2018, a workshop on settlement efficiency took place, identifying improvements in securities settlement on the basis of simulation results of T2S settlement efficiency. The simulation results showed that not all pending instructions can be processed in the "15-minute windows". Therefore, it was proposed that an extension of the Partial Settlement Windows at 08:002 and 15:45 is necessary. In March 2019, the T2S Operational Managers Group (OMG) agreed to the extension of these two windows from 15 to 30 minutes.

Updated time line for T2S Partial Settlement Windows

With the implementation of the Change Request “T2S-0694-URD – Extension of the 08:00 and 15:45 partial settlement windows“ on 9 December 2019 the following times will be effective in the T2S production environment:

Partial Settlement WindowT2S Production:
Start execution time
Execution period
effective 9 December 2019

Partial Settlement 1


The Partial Settlement Window is scheduled for 30 minutes.

Partial Settlement 2


The Partial Settlement Windows are scheduled for 15 minutes.
Partial Settlement 3


Partial Settlement 4


Partial Settlement 5


The Partial Settlement Window is scheduled 30 minutes before the Euro DvP cut-off time and deactivated at the closure of the same day T2S Euro DvP settlement.

The extension of the settlement times of both Partial Settlement Windows does not require any change in the software of CBF.

Customer simulation

T2S will establish the extension of the Partial Settlement processing time in the T2S Pre-Production environment (UTEST) exclusively for the “T2S Live Timing Schedule”.

The modification of the system parameter is scheduled on 30 September 2019.

In addition, on 4 December 2019, a dedicated test will take place, that will delay the Euro DvP cut-off time and therefore require an additional extension of the fifth Partial Settlement Window.


Please contact our Client Services teams for questions regarding the functionality. Questions related to the technical connection can be addressed to our Connectivity Support teams. Particular questions related to the T2S Partial Settlement functionality will be routed to the experts of the T2S Settlement Functionality team.


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. All times are in Central European Time (CET).