Spanish Reforma - New delay in Market Reforma implementation
Reference
Clearstream Banking would like to inform its customers that the effective date for phase 1 of the implementation of the new system for securities clearing, settlement and registry, also referred as the Spanish Reforma in our former announcement A15237,originally published on 18 December 2015 and updated on 28 January 2016, may be subject to change and is expected to be confirmed in the coming weeks by the market.
This follows information from the Spanish Central Securities Depository, (CSD), Iberclear, that the entry into force will be subject to further testing that is to be scheduled shortly and carried out in the following weeks.
Further information
A cutover announcement will be published in due course and the Creation Link Guide – Spain will be updated accordingly.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
We continue to monitor the situation and will provide further information as it becomes available.
| This Marketflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Marketflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Marketflash does not constitute legal or tax advice. |