T2S and CEU Releases in June 2026: Information on the deployment activities

Following Announcement D25047, Clearstream Europe AG¹ informs clients about the TARGET2-Securities (T2S) Release in June 2026 (T2S R2026.JUN) that will be deployed on

the weekend 13 and 14 June 2026
for business day Monday, 15 June 2026

This Announcement shows the intended timeline and modifications in the T2S Operational Day between Friday, 12, and Monday, 15 June 2026, for the implementations of T2S and CEU.

T2S Change Requests and T2S Problem Tickets

The lists of T2S Change Requests and T2S Problem Tickets (PBIs) attached to Announcement D25047 describe the scope of T2S R2026.JUN.

Please note that only Problem Tickets are listed that might have impact on CEU clients acting in ICP and/or DCP mode. Twelve PBIs, that can affect CEU clients, have been authorised for implementation with T2S R2026.JUN.

Impacts on the CEU business day for the deployment weekend

Due to the “T2S Release Weekend Schedule” the timeline of the operational day and respective reporting during the T2S deployment weekend will be changed.

Based on the currently available information, the following assumptions can be made:

• Clients acting in ICP mode and using the CEU connectivity channels via Swift, MQ, File Transfer (FT) or ClearstreamXact need to consider that any instruction transmitted between Friday, 12 June 2026 at 19:45, and the finalisation of the CEU implementation phase on Sunday, 14 June 2026 around 06:00, will be queued in the connectivity layer. All instructions received on Friday, 12 June 2026, by 19:45, that could not be processed, as well as queued instructions, will be processed after the deployment with the enhanced functionality. CEU settlement instructions entered in Xact Web Portal after Friday, 12 June 2026, 19:45, will be rejected and not recycled. CEU recommends starting to enter CEU settlement instructions in Xact Web Portal only after Sunday, 08:00. During the implementation weekend, exclusively clients transmitting instructions via Swift to CEU will receive an acknowledgement upon receipt of the instruction based on their existing Swift message subscription.
• The opening hours of the Clearstream Online functionalities will be modified. The CASCADE-Host frontend and Xact Web Portal will be available until Friday, 12 June 2026 at 19:45. After this, clients are requested not to enter, modify or cancel instructions. Over the course of Sunday, 14 June 2026, the systems will probably be re-opened from 06:00 to 11:00.
• Clients acting in ICP mode and using an automated connectivity channel (Swift, MQ or File Transfer (FT)) to receive the CEU settlement reporting are requested to check the modified reporting times, where applicable. The CEU business day 12 June 2026 is planned to be closed at 19:30. Afterwards, the End of Day (EoD) reporting will be prepared and sent. CEU will provide the files according to the existing message subscription. Depending on the T2S Release June 2026 timeline, files might be empty and will be transmitted only if the related messages have been subscribed for. In addition, the client’s technical infrastructure should accept and store the provided files. Otherwise, the information / data will be lost. CEU recommends accepting files at any time during the T2S Release Weekend.
• On Friday evening, 12 June 2026, T2S will close the online functionality (T2S GUI, U2A) and the “Straight-Through Processing” (STP) channels (STP, A2A). The online functionality and the STP channels will be re-opened on Saturday at around 11:30 respectively 17:00. On Sunday morning, 14 June 2026, 11:00, T2S is expected to start its maintenance window. Incoming instructions that will reach T2S during the deployment phase or maintenance window are queued and processed after the reopening of T2S and once the A2A channel and the T2S GUI will be available. The instructions queued during the deployment phase will be processed on Saturday, 13 June 2026, at 16:00, and those queued during the maintenance window will be processed on Sunday, 14 June 2026, at 21:00, in line with the T2S Operational Day.
• Clients acting in DCP mode and using the “YCON” flag for their instructions to receive real-time settlement reporting via CEU need to consider that these messages will be transmitted on Sunday, 14 June 2026, 06:00, after CEU has started to provide the settlement results in ICP mode.
• For the processing via:
  - KADI (Corporate action processing for securities not migrated by the Corporate Action Harmonisation (CAH) project) and
  - Custody (Corporate action processing for OneClearstream markets and for securities migrated by the CAH project with CEU in its role as Issuer CSD)
  the following processing applies:
  • Settlement instructions resulting from corporate actions processing will be created on Friday, 12 June 2026, in line with the regular business day and presented to T2S before the system will be closed for the deployment activities. On this processing day, clients will receive Corporate Actions messages (MT564, MT568) only from 14:00, deviating from the regular transmission time (that is, 19:30). Additionally, the transmission times of Corporate Action Confirmations (MT566) will be modified. The reporting which is generated via Custody and KADI can be provided on Sunday, 14 June 2026, after 06:00 until the maintenance windows will start (at around 11:00).
  • The messages from Custody will already be transmitted on Saturday at 17:00. Therefore, a special empty report is generated on Sunday at 06:00. This report will only be provided to subscribed clients. On Monday 06:00 the first regular report will be generated.
• In general, the processing at Clearstream Banking S.A., Luxembourg (CBL) is not impacted by the T2S Release Weekend procedure. The procedures in CBL regarding the settlement of DvP instructions in foreign currencies, stock exchange trades in non-collective safe custody (NCSC) as well as for the markets included in the Local Market Partner (LMP) concept will continue to run in the existing business as usual mode. However, the securities settlement of instructions which involve CEU accounts, and especially the settlement of instructions against a foreign currency, will be delayed. The cash management at CBL will be conducted according to the CBL timeline and the cash settlement result will be presented to CEU. CEU will queue these results. The settlement of the securities leg will be possible once CEU transmits the release instruction for the “CoSD Hold” to T2S. Therefore, the reporting of the cash settlement and securities settlement will be provided at different times.
• CEU’s processing with the T2S Out-CSDs (CBL, domestic markets migrated by the Unified for New Opportunities project, meaning Norway, Australia, Canada, U.S.A and Switzerland) will be delayed as well. Nevertheless, client settlement instructions will be forwarded to the related CSDs in accordance with the market deadlines. Settlement results and feedback for pending instructions from these CSDs will be transmitted to T2S once CEU releases the queued instructions for the T2S Real-time Settlement (RTS) cycle scheduled for Sunday, 14 June 2026.

CEU client communication on the deployment weekend

During the T2S deployment weekend, “Operational News” will be published on the Clearstream website only if the implementation is running with a delay that will impact CEU clients in their settlement activities on Monday morning. Clients can set up the subscription to "Operational News" and their "Alerts" in the MyClearstream section under Subscriptions respectively under Real-time alerts. More specifically, CEU recommends the setup of a subscription to TARGET2-Securities alerts by Friday, 12 June 2026, at the latest.

On Friday, 12 June 2026, at 20:00, T2S will greenlight the implementation of the release software. After that, clients shall monitor ECB’s website where T2S regularly reports the latest deployment and operational status.

CEU indicative timeline for the deployment weekend in June 2026

The attached timeline indicates the changes in the CEU operational schedule during the T2S Release Deployment Weekend.

The timeline created by CEU is based on the latest version of the T2S Playbook for the deployment weekend provided beginning of June 2026. The plan covers the period from Friday, 12 June 2026, 17:45, to Monday, 15 June 2026, 06:00. Events and processes before and after this specific period can be considered as unchanged.

The changes are shown in the “Revision” column as follows:

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1. This Announcement is published by Clearstream Europe AG (CEU), 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.