Clearstream Banking1 would like to advise customers that, effective
14 November 2016
Euroclear Finland’s core Central Securities Depository (CSD) platform HEXClear and Central Register will be replaced by the Infinity system.
This launch, recently announced by Euroclear Finland, impacts equities and corporate bonds and is referred to in the market as “Release 2”. The Release 1 that impacted bonds and money market instruments was launched in February 2015.
The effective date was agreed with the Finnish Market Advisory Committee (MAC) together with a backup date of 28 November 2016.
The replacement of Hexclear with Infinity will introduce the following characteristics:
- T2S compliant settlement processes and finality;
- Automated detection and creation of market claims and transformations with taxation handling; and
- Automated corporate action net entitlement calculation and tax processing.
Further information
Clearstream Banking will provide further details on the impact on customers in due course.
For further information, please contact the Clearstream Banking Client Services or your Relationship Officer.
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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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.