Spain: Spanish Reforma

Further to our Marketflash M14003, dated 21 January 2014, Clearstream Banking wishes to inform its customers that the first phase of the Spanish Reforma might not go live in October 2015 as initially foreseen. Confirmation of the possible new implementation date is expected within the coming weeks.

Clearstream Banking will keep its customers posted of any progress as soon as the date can be confirmed by regulators. Impacts to customers of the Spanish Reforma phase 1 will be published within the same timeframe.

We continue to monitor the situation in the Spanish market 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.