Croatia: Direct link to SKDD – Update II


Note: This Announcement, originally published on 23 April 2024 and updated on 25 April 2024, has been further updated to include Customer guidelines for the cut-over. Changes have been highlighted.

Further to Announcement A23053, Clearstream Banking1 informs clients that its link to Croatia will be upgraded to a direct participation in the Croatian CSD, Central Depository & Clearing Company Inc. (SKDD), effective 

10 June 2024

This will enable future service enhancements.

Clearstream Banking continues to use Erste Group Bank AG, Austria, as the operator of this direct account.

Impact on clients

The settlement and asset servicing processes for clients will not change.

Assets will be transferred from Erste Group Bank AG account CS2013/020/9665749 to Clearstream Banking S.A. account CBL-S 10290449. 

Impact on domestic counterparties

Clients should inform their counterparties about the revised information to be indicated in their settlement instructions regarding CBL’s direct account with SKDD as follows:

Procedure for the domestic counterpartyDeadline

Domestic counterparties delivering/receiving securities free of payment/against payment in favour of/from a CBL client must indicate in their instructions:

Market deadline

For receipt and delivery transactions free of/against payment:

Deliver to/Receive from: Clearstream Banking S.A. (BIC: CEDELULL)

For/from: Clearstream Banking S.A. (BIC: CEDELULL)
Account number CBL-S 10290449

In favour of: name and account number of CBL client.

Instruction specifications

The instruction specifications for Xact Web Portal, Xact via Swift and Xact File Transfer remain the same.

Settlement times

The settlement times remain the same. 

Disclosure requirements

The disclosure requirements remain the same. 

Customer guidelines for the cut-over

Specific settlement instruction process on 7 June 2024

  • To facilitate the transfer, clients must send their instructions at the latest by 10:00 CET on 7 June 2024.
  • All instructions with requested settlement date up to and including 7 June 2024 that are received after the cut-off time of 10:00 CET will be automatically rejected.
  • Clients are recommended to request that their counterparties send their leg of the instruction as soon as possible to avoid possible cancellation.
  • Clearstream Banking reminds clients that instructions with requested settlement date from 10 June 2024 must contain the new account details.

Handling of pending trades on transfer date 7 June 2024

  • Unmatched instructions for settlement date up to and including 7 June 2024 that are still pending at 10:00 CET will be cancelled.
  • For all pending matched domestic instructions, clients must contact their counterparties as early as possible to ensure that these instructions are cancelled by both counterparties by 10:00 CET, as the bilateral cancellation principle applies.
  • Clients impacted will be informed via MT548. Clients must reinstruct after the successful completion of the migration, on Monday 10 June 2024.

Further information

For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.


1. Clearstream Banking refers collectively to 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, and Clearstream Banking AG (for Clearstream Banking AG clients using the Creation platform), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.