Sweden: Changes in the market

29.10.2019

Clearstream Banking1 informs customer that effective

18 November 2019

Euroclear Sweden will deploy the Prevent Settlement Fails release, with several system and market changes to stay in line with CSDR.

Impact on customers


Today

From 18 November 2019

Partial Settlement (only for AM sub-system2)

Not possible

Clearstream Banking will continue to require full provisioning of cash and securities on customer accounts before sending the instructions to the Swedish market.

Partial settlement will not be applied on the instructions that customers send for the time being.

Bilateral cancellation

Unilateral cancellation

Matched instructions: can only be cancelled if both parties send cancellation requests.

Unmatched instructions: can still be unilaterally cancelled.

Recycling of settlement instructions

Unmatched instructions: 30 calendar days after the contractual settlement date or 30 calendar days after the input date, if the contractual settlement date has passed.

Matched instructions: Recycling period: instructions will be continuously recycled until they settle or are cancelled by customers.

Unmatched instructions: will remain in the CSD for 30 business days after the Intended Settlement Date (ISD), after which they expire.

Matched instructions: will be recycled to the next possible settlement day until they settle or are bilaterally cancelled.

Hold and release

Instructions are released after being successfully provisioned.

Clearstream Banking will continue to require full provisioning of cash and securities on customer accounts before sending the instructions to the Swedish market.

Matching tolerance

All instructions: EUR 15 or SEK 150

Tolerance matching will be amended in accordance with CSDR matching rules:

  • Instructed settlement amount of EUR 100,000 or less: EUR 2 equivalent
  • Instructed settlement amount of more than EUR 100,000: EUR 25 equivalent

Further information

For further information, customers may contact Clearstream Banking Client Services or their 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 (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.

2. AM sub-system eligible securities are equities, equity-related instruments and some corporate bonds.