Settlement Timings Matrix
This Settlement Timings Matrix is a quick reference guide for all markets covered by Clearstream Banking S.A. (CBL) via the Creation platform.
Note: Due to the current situation related to COVID-19, there may be temporary changes to the cash and settlement timings. For these changes, customers are asked to refer to our latest announcements.
For more detailed information about the domestic cash and securities services provided by CBL, please refer to the Market Coverage for the respective market.
Settlement and cash deadlines are aligned with local times, which means that CBL takes into account daylight saving time (DST) changes around the world when setting its Central European Time (CET) deadlines. This enables customers to benefit from extended CET deadlines whenever possible.
A new version of this document will be available in October each year.
Unless otherwise indicated, all timings are given in CET.
The table below shows the input deadlines for:
- Internal transactions (those between two Clearstream Banking accounts);
- Bridge transactions (those between a Clearstream Banking account and an account in Euroclear Bank).
Instructions are settled in Clearstream Banking during the night-time processing and on a real-time basis throughout the day with a final processing at the end of the day.
The table shows the latest deadlines for inclusion of instructions in the mandatory and optional settlement period processings.
|Free of Payment||Against Payment||Free of Payment||Against Payment|
|For mandatory settlement only (in all currencies except ARS, CAD, GBP, MXN, PEN and USD)|
|For mandatory settlement only (in ARS, CAD, GBP, MXN, PEN and USD)|
|for mandatory settlement||20:00 SD||20:00 SD|
|for optional Settlement||20:00 SD||20:00 SD|
|for mandatory Settlement only (in all currencies except ARS, CAD, EUR, GBP, MXN, PEN and USD)|
|for mandatory Settlement only (in EUR and GBP)|
|for mandatory Settlement only (in ARSa, CAD, MXN, PEN and USD)||17:00 SD||17:00 SD|
|for mandatory Settlement|
|for optional Settlement||18:30 SD||18:30 SD|
|Cash Value Date||/||SD||/||SD|
a. Although the input deadline for all Bridge instructions against payment ARS is 17:00, customers are recommended to send their receipt instructions against payment in ARS by 15:30 at the latest. Both counterparties must ensure the receipt and the delivery instructions are for the mandatory and optional settlement periods.
Note: CBL recommends that internal and Bridge instructions are submitted by 21:00 on SD-1.