New Zealand: Change to Standard Settlement Instructions (SSI)
Reference
Clearstream Banking1 informs customers that due to the Reserve Bank of New Zealand’s (RBNZ) NZClear system upgrade that will take place on 24 February 2020, new counterparty mnemonics will apply in the market for the identification of settlement counterparties from
24 February 2020
Impact on customers
Customers are required to advise their counterparties of Clearstream Banking’s new SSI to ensure the timely settlement of their trades. Clearstream Banking’s new SSI will be updated and effective as per the below for trades with a settlement date falling on 24 February 2020 onwards.
Procedure for the domestic counterparty (Current) | Deadline |
JPMorgan Chase Bank, N.A. (New Zealand Branch) - | Market deadline |
Procedure for the domestic counterparty (Effective 24 Feb 2020) | Deadline |
JPMorgan Chase Bank, N.A. (New Zealand Branch) - | Market deadline |
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer. The Market Link Guide - New Zealand will be updated on 24 February 2020.
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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.