Further to Announcements A17153, A18016 and A18023, Clearstream Banking1 informs customers that the Thailand Clearing House (TCH) is shortening the settlement cycle from T+3 to T+2, effective
2 March 2018
The mandatory securities borrowing and lending (SBL) buy-in will change from T+4 (SD+1) to T+3 (SD+1). If the originating defaulted selling broker cannot deliver the shares to TCH in time, cash settlement will be triggered on SD+3 (as from the SD of the originating defaulted selling broker), instead of SD+4, in order to terminate outstanding pending settlement.
Impact on customers
For positions that are still in pending settlement status, the originating defaulted selling broker has up to SD+3 to deliver the remaining securities. If the pending settlement position does not resolve by SD+3 (that is, originating defaulted selling broker cannot deliver the remaining shares) then a cash settlement will be triggered.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. CBL 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 customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.