Settlement times - Singapore
The deadlines shown below are valid provided that the client's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL and in the local market. Clients must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.
Important note: As part of CBL’s internal compliance procedures, all incoming client instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the client via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, clients are advised to input instructions at least 15 minutes before the associated deadline.
Settlement times in Central European Time (CET)
N.B.: The same deadlines apply whether payment is performed in SGD or in USD.
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
CDP-eligible securities – Morning Batch Settlement | |||||||
Receipts | FOP | 07:05 | 02:45 | 02:45 | 06:00 | 11:30 | |
AP | 06:05 | 02:45 | 02:45 | 06:00 | 11:30 | SD | |
Deliveries | FOP | 07:05 | 02:45 | 02:45 | 06:00 | 11:30 | |
AP | 06:05 | 02:45 | 02:45 | 06:00 | 11:30 | SD | |
CDP-eligible securities – Afternoon Batch Settlement | |||||||
Receipts | FOP | 07:05 | 06:15 | 06:15 | 09:30 | 11:30 | |
AP | 06:05 | 06:15 | 06:15 | 09:30 | 11:30 | SD | |
Deliveries | FOP | 07:05 | 06:15 | 06:15 | 09:30 | 11:30 | |
AP | 06:05 | 06:15 | 06:15 | 09:30 | 11:30 | SD | |
CDP-eligible securities – RTGS (1) Important: These deadlines pertain to RTGS settlement instructions WITH same day onward deliveries obligations to Clearing Membersa of CDP. | |||||||
Receipts | FOP | 07:05 | 06:15 | 06:15 | 03:00 | 12:00 | |
AP | 06:05 | 06:15 | 06:15 | 03:00 | 10:00 | SD | |
Deliveries | FOP | 07:05 | 06:15 | 06:15 | 03:00 | 12:00 | |
AP | 06:05 | 06:15 | 06:15 | 03:00 | 10:00 | SD | |
CDP-eligible securities – RTGS (2) Important: These deadlines pertain to RTGS settlement instructions WITHOUT same day onward deliveries obligations to Clearing Members a of CDP. | |||||||
Receipts | FOP | 07:05 | 11:25 | 11:25 | 03:00 | 12:00 | |
AP | 06:05 | 08:25 | 08:25 | 03:00 | 12:00 | SD | |
Deliveries | FOP | 07:05 | 11:25 | 11:25 SD | 03:00 | 12:00 | |
AP | 06:05 | 08:25 | 08:25 SD | 03:00 | 12:00 | SD | |
Non–CDP-eligible securities (physical securities) | |||||||
Receipts | FOP | 04:00 | 02:35 | 02:35 | Dependent on the | ||
Deliveries | FOP | 04:00 | 02:35 | 02:35 | |||
Government securities (MAS) | |||||||
Receipts | FOP | 04:00 | 10:55 | 10:55 | 11:00 | 13:00 | |
AP | 04:00 | 09:55 SD | 09:55 | 11:00 | 13:00 | SD | |
Deliveries | FOP | 04:00 | 10:55 SD | 10:55 SD | 11:00 | 13:00 | |
AP | 04:00 | 09:55 SD | 09:55 SD | 11:00 | 13:00 | SD | |
a. Cleared trades (against Clearing Members) settle in batch mode only. RTGS trades with onward deliveries to settle such cleared trades should therefore settle before each day's batch run. Thus, RTGS settlement instructions to fulfil such obligations should be received by CBL before or by SD 06:15 CET (summer) while those without such obligations can be received by SD 08:25 CET (summer) for against payment instructions. Clients must be aware of the different deadlines to ensure they fulfil their obligations accordingly.
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
CDP-eligible securities – Morning Batch Settlement | |||||||
Receipts | FOP | 06:05 | 01:45 | 01:45 | 05:00 | 10:30 | |
AP | 05:05 | 01:45 | 01:45 | 05:00 | 10:30 | SD | |
Deliveries | FOP | 06:05 | 01:45 | 01:45 | 05:00 | 10:30 | |
AP | 05:05 | 01:45 | 01:45 | 05:00 | 10:30 | SD | |
CDP-eligible securities – Afternoon Batch Settlement | |||||||
Receipts | FOP | 06:05 | 05:15 | 05:15 | 08:30 | 10:30 | |
AP | 05:05 | 05:15 | 05:15 | 08:30 | 10:30 | SD | |
Deliveries | FOP | 06:05 | 05:15 | 05:15 | 08:30 | 10:30 | |
AP | 05:05 | 05:15 | 05:15 | 08:30 | 10:30 | SD | |
CDP-eligible securities – RTGS (1) Important: These deadlines pertain to RTGS settlement instructions WITH same day onward deliveries obligations to Clearing Membersa of CDP. | |||||||
Receipts | FOP | 06:05 | 05:15 | 05:15 | 02:00 | 11:00 | |
AP | 05:05 | 05:15 | 05:15 | 02:00 | 09:00 | SD | |
Deliveries | FOP | 06:05 | 05:15 | 05:15 | 02:00 | 11:00 | |
AP | 05:05 | 05:15 | 05:15 | 02:00 | 09:00 | SD | |
CDP-eligible securities – RTGS (2) Important: These deadlines pertain to RTGS settlement instructions WITHOUT same day onward deliveries obligations to Clearing Membersa of CDP. | |||||||
Receipts | FOP | 06:05 | 10:25 | 10:25 | 02:00 | 11:00 | |
AP | 05:05 | 07:25 | 07:25 | 02:00 | 11:00 | SD | |
Deliveries | FOP | 06:05 | 10:25 | 10:25 | 02:00 | 11:00 | |
AP | 05:05 | 07:25 SD | 07:25 SD | 02:00 | 11:00 | SD | |
Non–CDP-eligible securities (physical securities) | |||||||
Receipts | FOP | 03:00 | 01:35 | 01:35 | Dependent on the | ||
Deliveries | FOP | 03:00 | 01:35 | 01:35 | |||
Government securities (MAS) | |||||||
Receipts | FOP | 03:00 | 09:55 | 09:55 | 10:00 | 12:00 | |
AP | 03:00 | 08:55 | 08:55 | 10:00 | 12:00 | SD | |
Deliveries | FOP | 03:00 | 09:55 SD | 09:55 SD | 10:00 | 12:00 | |
AP | 03:00 | 08:55 SD | 08:55 SD | 10:00 | 12:00 | SD | |
a. Cleared trades (against Clearing Members) settle in batch mode only. RTGS trades with onward deliveries to settle such cleared trades should therefore settle before each day's batch run. Thus, RTGS settlement instructions to fulfil such obligations should be received by CBL before or by SD 05:15 CET (winter) while those without such obligations can be received by SD 07:25 CET (winter) for against payment instructions. Clients must be aware of the different deadlines to ensure they fulfil their obligations accordingly.
Settlement times in Singapore Time
N.B.: The same deadlines apply whether payment is performed in SGD or in USD.
All year
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
CDP-eligible securities – Morning Batch Settlement | |||||||
Receipts | FOP | 13:05 | 08:45 | 08:45 | 12:00 | 17:30 | |
AP | 12:05 | 08:45 | 08:45 | 12:00 | 17:30 | SD | |
Deliveries | FOP | 13:05 | 08:45 | 08:45 | 12:00 | 17:30 | |
AP | 12:05 | 08:45 | 08:45 | 12:00 | 17:30 | SD | |
CDP-eligible securities – Afternoon Batch Settlement | |||||||
Receipts | FOP | 13:05 | 12:15 | 12:15 | 15:30 | 17:30 | |
AP | 12:05 | 12:15 | 12:15 | 15:30 | 17:30 | SD | |
Deliveries | FOP | 13:05 | 12:15 | 12:15 | 15:30 | 17:30 | |
AP | 12:05 | 12:15 | 12:15 | 15:30 | 17:30 | SD | |
CDP-eligible securities – RTGS (1) Important: These deadlines pertain to RTGS settlement instructions WITH same day onward deliveries obligations to Clearing Members a of CDP. | |||||||
Receipts | FOP | 13:05 | 12:15 | 12:15 | 09:00 | 18:00 | |
AP | 12:05 | 12:15 | 12:15 | 09:00 | 18:00 | SD | |
Deliveries | FOP | 13:05 | 12:15 | 12:15 | 09:00 | 18:00 | |
AP | 12:05 | 12:15 | 12:15 | 09:00 | 18:00 | SD | |
CDP-eligible securities – RTGS (2) Important: These deadlines pertain to RTGS settlement instructions WITHOUT same day onward deliveries obligations to Clearing Members a of CDP. | |||||||
Receipts | FOP | 13:05 | 17:25 | 17:25 | 09:00 | 18:00 | |
AP | 12:05 | 14:25 | 14:25 | 09:00 | 18:00 | SD | |
Deliveries | FOP | 13:05 | 17:25 | 17:25 | 09:00 | 18:00 | |
AP | 12:05 | 14:25 | 14:25 | 09:00 | 18:00 | SD | |
Non–CDP-eligible securities (physical securities) | |||||||
Receipts | FOP | 10:00 | 08:35 | 08:35 | Dependent on the | ||
Deliveries | FOP | 10:00 | 08:35 | 08:35 | |||
Government securities (MAS) | |||||||
Receipts | FOP | 10:00 | 16:55 | 16:55 | 17:00 | 19:00 | |
AP | 10:00 | 15:55 | 15:55 | 17:00 | 19:00 | SD | |
Deliveries | FOP | 10:00 | 16:55 SD | 16:55 SD | 17:00 | 19:00 | |
AP | 10:00 | 15:55 SD | 15:55 SD | 17:00 | 19:00 | SD | |
a. Cleared trades (against Clearing Members) settle in batch mode only. RTGS trades with onward deliveries to settle such cleared trades should therefore settle before each day's batch run. Thus, RTGS settlement instructions to fulfil such obligations should be received by CBL before or by SD 12:15 Singapore time while those without such obligations can be received by SD 14:25 Singapore time for against payment instructions. Clients must be aware of the different deadlines to ensure they fulfil their obligations accordingly.