Settlement times - Kenya
Reference
The deadlines shown below are valid provided that the client's instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream and in the local market. Clients must also ensure that any necessary required funding in KES currency is freely available on the cash account on SD-1 at the latest, due to the fact that Kenya is a strictly pre-funded market. If any of these criteria are not met, Clearstream cannot guarantee timely settlement.
Important Note: As part of Clearstream’s internal compliance procedures, all incoming client instructions will automatically be scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the client via their chosen media channels, until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, clients are advised to input instructions at least 15 minutes before the associated deadline.
For Government Securities settled in DhowCSD
Settlement Times in Central European Time (CET)
29 March 2026 – 24 October 2026
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
All Government Securities | |||||||
Receipts | FOP a | 21:30 SD-2 | 14:30 SD – 1 | 14:30 SD-1 | 08:00 SD | 16:00 SD | |
AP | 21:30 SD-2 | 14:30 SD – 1 | 14:30 SD-1 | 08:00 SD | 16:00 SD | SD | |
Deliveries | FOP a | 21:30 SD-2 | 14:30 SD – 1 | 14:30 SD-1 | 08:00 SD | 16:00 SD | |
AP | 21:30 SD-2 | 14:30 SD – 1 | 14:30 SD-1 | 08:00 SD | 16:00 SD | SD | |
a. Free of Payment instructions corresponding to portfolio transfers (no change in Beneficial Ownership) are allowed but can take between 2-4 weeks to be completed since they are subject to approvals from the regulators (NSE and CMA) before they can be processed and settled at the DhowCSD.
25 October 2026 – 27 March 2027
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||||
start | end | from | to | Value | |||||
AP=Against payment FOP=Free of payment ₐ SD=Settlement date | |||||||||
All Government securities | |||||||||
Receipts | FOPₐ | 21:30 SD-2 | 13:30 SD – 1 | 13: 30 SD-1 | 07:00 SD | 15:00 SD | |||
AP | 21:30 SD-2 | 13:30 SD – 1 | 13: 30 SD-1 | 07:00 SD | 15:00 SD | SD | |||
Deliveries | FOPa | 21:30 SD-2 | 13:30 SD – 1 | 13: 30 SD-1 | 07:00 SD | 15:00 SD | |||
AP | 21:30 SD-2 | 13:30 SD – 1 | 13: 30 SD-1 | 07:00 SD | 15:00 SD | SD | |||
a. Free of Payment instructions corresponding to portfolio transfers (no change in Beneficial Ownership) are allowed but can take between 2-4 weeks to be completed since they are subject to approvals from the regulators (NSE and CMA) before they can be processed and settled at the DhowCSD.
Settlement Times in East Africa Time (EAT)
All year
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
Start | End | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
All Government securities | |||||||
Receipts | FOP a | 23:30 SD – 2 | 15:30 SD – 1 | 15:30 SD-1 | 09:00 SD | 17:00 SD | |
AP | 23:30 SD – 2 | 15:30 SD – 1 | 15:30 SD-1 | 09:00 SD | 17:00 SD | SD | |
Deliveries | FOP a | 23:30 SD – 2 | 15:30 SD – 1 | 15:30 SD-1 | 09:00 SD | 17:00 SD | |
AP | 23:30 SD – 2 | 15:30 SD – 1 | 15:30 SD-1 | 09:00 SD | 17:00 SD | SD | |
a. Free of Payment instructions corresponding to portfolio transfers (no change in Beneficial Ownership) are allowed but can take between 2-4 weeks to be completed since they are subject to approvals from the regulators (NSE and CMA) before they can be processed and settled at the DhowCSD.
