Modification to Foreign Exchange Services

Effective

immediately

as part of our continuous effort to provide market leading services to our clients, Clearstream Banking¹ has upgraded the FX services for securities settlement instructions and requests that FX instructions sent by MT299 are in a standardised format.

Upgrade of FX services on Securities Settlement Instructions

This service gives customers the ability to synchronise the Value Date of the FX transaction with the Requested Settlement Date of the securities Instruction. Customers can request the conversion of the currency of the underlying settlement transaction provided that the currency is eligible for FX services in Clearstream Banking and the base currency of their choice is eligible for FX services without any restrictions.²

FX instructions sent by the MT299

In order to ensure proper and timely handling of customer instructions received on an MT299, Clearstream recommends that if an MT299 instruction (for the attention of Forex) is used to instruct a FX transaction on a case-by-case basis (not automatic), it should be sent in the standardised format as shown in the example below.

Example FX Instruction:

Further information

The Customer Handbook has been updated to reflect these changes.

For further information about our products and services, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.
2. Please refer to the Customer Handbook for details.