Improved cash and settlement deadlines
Note: This announcement, originally published on 30 May 2017, has been revised to update the deadline to 15:55 for CHF against payment settlement instructions in the Swiss market. The change has been highlighted.
Effective
19 June 2017
Clearstream Banking1 will introduce improved cash deadlines for Euro (EUR), Swiss Franc (CHF), Czech Korona (CZK), Hong Kong Dollar (HKD), Qatari Rial (QAR) and Saudi Riyal (SAR).
In addition, there will be an improved deadline for CHF against payment settlement instructions in the Swiss market.
Note: All times in this announcement are CET unless otherwise stated.
Improved EUR deadline
The customer cash deadline for EUR via CCB at Clearstream Banking will be improved as indicated in the below table.
A new concept of Straight-Through-Processing (STP) and Non-STP deadlines for EUR withdrawal of funds instructions will be introduced:
A withdrawal of funds instruction (MT103 / MT202 / MT200) will be considered as STP if the below conditions are met:
- MT103
- Ordering Institution BIC (field :50a:) is equal to the Beneficiary Institution BIC (field :59a:).
- Fields that correspond to the payment parties (:50a:, :56a:, :57a: and :59a:) contain a published BIC. No account number should be mentioned in these fields.
- No narrative fields are present in the instruction (field :70: or :72: is empty).
- MT200
- Fields that correspond to the payment parties (:56a: and :57a:) contain a published BIC. No account number should be mentioned in these fields.
- No narrative field is present in the instruction (field :72: is empty).
- MT202
- Ordering Institution BIC (field :52a:) is equal to the Beneficiary Institution BIC (field :58a:).
- Fields that correspond to the payment parties (:52a:, :56a:, :57a: and :58a:) contain a published BIC. No account number should be mentioned in these fields.
- No narrative field is present in the instruction (field :72: is empty).
| Current deadline (via CCB) | New deadline from 19 June 2017 (via CCB) | |
Pre-advice of funds | 15:30 | 16:30 | |
Withdrawal of funds | 15:30 | STP | 16:30 |
Non-STP | 16:00 | ||
Note: The customer cash deadline for EUR via TARGET2 remains unchanged at 16:30 for pre-advice and withdrawal of funds.
Improved deadlines for CHF, CZK, HKD, QAR and SAR
Cash deadlines for pre-advices and withdrawals of funds will be improved for the following currencies.
ISO code | Period | Old deadline | New deadline from 19 June 2017 |
CHF | All year | VD 13:30 | VD 15:45 |
CZK | All year | VD 12:30 | VD13:00 |
HKD | 19 June 2017 - | VD 09:00 | VD 10:15 |
29 October 2017 - | VD 08:00 | VD 09:15 | |
QAR | 19 June 2017 - | VD-1 20:00 | VD 09:30 |
29 October 2017 - | VD-1 20:00 | VD 08:30 | |
SAR | 19 June 2017 - | VD-1 20:00 | VD 12:00 |
29 October 2017 - | VD-1 20:00 | VD 11:00 |
Switzerland: Improved settlement deadline
The deadline has improved for against payment settlement instructions in CHF from 14:15 to 15:55.
Further information
The Clearstream Banking Customer Handbook, Cash Timings Matrix, Settlement Timings Matrix and Creation Link Guide - Switzerland will be updated on 19 June 2017 with the new deadlines.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. 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.