Public holiday regulation in 2024 for CASCADE and Creation
Clearstream Banking1 informs clients of the public holiday regulation for the CASCADE and Creation systems applicable to Germany (national) or for certain regions (R) in 2024. The table below lists the regulation for individual public holidays. Public holidays that fall on a weekend are not included.
The CASCADE settlement days are aligned with the TARGET2-Securities (T2S) holiday calendar. On days on which T2S is open, CASCADE is open as well.
In 2024, T2S is closed on the following holidays. On these holidays no settlement of free of payment (FoP2 ) instructions as well as delivery against/with payment (DvP3) instructions in EUR and DKK4 takes place:5
- 1 January (New Year's Day)
- 29 March (Good Friday)
- 1 April (Easter Monday)
- 25 December (Christmas Day)
- 26 December (Boxing Day)
In addition, the following specifications apply to settlement of DvP instructions in EUR and DKK4:
- On days on which T2S is open, settlement of FoP instructions is available as usual and irrespective of the availability of DvP settlement in EUR or DKK.
- On 1 May (Labour Day), settlement of DvP instructions is possible in DKK, but not in EUR.
- On the following days, Danmarks Nationalbank is closed. Hence, DvP settlement is not possible in DKK, but in EUR:
- 28 March (Maundy Thursday)
- 9 May (Ascension Day)
- 10 May (Danmarks Nationalbank closed)
- 20 May (Whit Monday)
- 5 June (Constitution Day in Denmark)
- 24 December (Christmas Eve)
- 31 December (New Year’s Eve)
Payments in foreign currencies can settle via the Creation platform, depending on the deadlines for cash provisioning and public holiday regulation of the respective foreign currency.
The T2S holiday calendar applies to all T2S In-CSDs (central securities depositories) which are connected to T2S. The settlement of cross-border transactions against other domestic markets with closing days differing from the T2S holiday calendar will remain pending on those closing days until the next business day.
Public holiday 2024 | National / | CASCADE | Creation |
Monday, 1 January, | National | closed | closed |
Friday, 29 March, | National | closed | open |
Monday, 1 April, | National | closed | open |
Wednesday, 1 May | National | open | open |
Thursday, 9 May, | National | open | open |
Monday, 20 May, | National | open | open |
Thursday, 30 May, | R | open | open |
Thursday, 15 August, | R | open | open |
Thursday, 3 October, | National | open | open |
Thursday, 31 October, | R | open | open |
Friday, 1 November, | R | open | open |
Wednesday, 20 November, | R | open | open |
Tuesday, 24 December, | National | open | open |
Wednesday, 25 December, | National | closed | closed |
Thursday, 26 December, | National | closed | open |
Tuesday, 31 December, | National | open | open |
Counter opening hours at CBF
On days on which CASCADE is not open for business, the counter of CBF will also remain closed.
In addition, the counter will remain closed on 9 May (Ascension Day), 20 May (Whit Monday), 30 May (Corpus Christi) and on 3 October (German Reunification Day). Due to a regional public holiday on Tuesday, 13 February 2024, the counter will also be closed from 13:00.
Note on the future announcement of the public holiday regulation
In future, CBF clients will find the public holiday regulation for CASCADE and Creation in the Cash and Securities Holidays overview.
The T2S downtimes due to public holidays are to be checked in the T2S-related information section.
Separate client announcements regarding the public holiday regulation for CASCADE and Creation will no longer be provided from 2024.
Further information
Regarding the admission of securities, please note that for the eMISSION service the points described in Announcement D18067 for December 2018 apply in the same way in December 2022. Please take into account that value dates that fall on a holiday will not be considered.
For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. FoP stands for Free of Payment.
3. DvP stands for Delivery versus Payment, Receipt versus Payment, Delivery with Payment and Receipt with Payment instructions.
4. Settlement against Payment in Danish Krone (DKK) is also optionally available provided that the CBF client has opened a Dedicated Cash Account (DCA) for DKK.
5. This also applies to non-collective safe custody securities which have to be settled via T2S (custody type NCSC-T).