Settlement Discipline Regime: Update to Adaptation of settlement functionalities


Clearstream Banking1 informs customers that further to Announcement A20021, the release planned for 19 October 2020 will be postponed to a later date. The postponement affects all Bridge and internal settlement changes, including partial settlement, bilateral cancellation, hold and release, cash tolerances as well as all other functionalities described in A20021.

Impact on customers

Clearstream Banking will inform its customers about any SDR related changes once a new implementation date has been proposed by and bilaterally agreed with Euroclear Bank SA/NV.

Furthermore, Clearstream Banking is closely monitoring the market discussions suggesting a further delay of one year to the entry into force of the Settlement Discipline Regime cash penalties and buy-ins to 1 February 2022. Once the information has become official, customers will be informed accordingly. Until then, Clearstream Banking will continue its regulatory readiness activities against the currently published deadlines.

Further information

For further information, customers 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 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.