Singapore: Additional batch settlement run on CDP-eligible securities
Clearstream Banking1 would like to inform customers that effective settlement date
25 January 2021
an additional batch settlement run will be made available in the morning by the SGX/CDP that covers CDP-eligible securities. Customers will have the option to attempt the morning settlement via an earlier deadline.
Impact on customers
Customers who wish to participate in the morning batch settlement run should ensure that provisioning is completed as early as possible and before SD 01:45 CET (SD 08:45 Singapore time) to ensure their instructions are released to Clearstream Banking’s custodian by their deadline for matching in the market with counterparties and for participation in the morning batch settlement run. It is expected that settlement confirmations will be released by the CDP upon completion of the morning batch settlement run process.
Instructions attempted for settlement during the morning run which remain either unsettled or partially settled will be rolled over to the afternoon batch settlement run for another settlement attempt.
For participation in the afternoon batch settlement run, there is no change to the current published deadline on CDP-eligible securities.
There is also no change to the instruction formats.
Customers should take note of the below deadlines on the morning batch settlement run:
Central European Time (25 October 2020 - 27 March 2021)
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
CDP-eligible securities – Morning Batch Settlement (new) | |||||||
Receipts | FOP | 06:05 | 01:45 | 01:45 | 05:00 | 10:30 | |
AP | 05:05 | 01:45 | 01:45 | 05:00 | 10:30 | SD | |
Deliveries | FOP | 06:05 | 01:45 | 01:45 | 05:00 | 10:30 | |
AP | 05:05 | 01:45 | 01:45 | 05:00 | 10:30 | SD | |
CDP-eligible securities – Afternoon Batch Settlement (no change) | |||||||
Receipts | FOP | 06:05 | 05:15 | 05:15 | 08:30 | 10:30 | |
AP | 05:05 | 05:15 | 05:15 | 08:30 | 10:30 | SD | |
Deliveries | FOP | 06:05 | 05:15 | 05:15 | 08:30 | 10:30 | |
AP | 05:05 | 05:15 | 05:15 | 08:30 | 10:30 | SD | |
Singapore Time (25 October 2020 - 27 March 2021)
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
CDP-eligible securities – Morning Batch Settlement (new) | |||||||
Receipts | FOP | 13:05 | 08:45 | 08:45 | 12:00 | 17:30 | |
AP | 12:05 | 08:45 | 08:45 | 12:00 | 17:30 | SD | |
Deliveries | FOP | 13:05 | 08:45 | 08:45 | 12:00 | 17:30 | |
AP | 12:05 | 08:45 | 08:45 | 12:00 | 17:30 | SD | |
CDP-eligible securities – Afternoon Batch Settlement (no change) | |||||||
Receipts | FOP | 13:05 | 12:15 | 12:15 | 15:30 | 17:30 | |
AP | 12:05 | 12:15 | 12:15 | 15:30 | 17:30 | SD | |
Deliveries | FOP | 13:05 | 12:15 | 12:15 | 15:30 | 17:30 | |
AP | 12:05 | 12:15 | 12:15 | 15:30 | 17:30 | SD | |
SGX/CDP guidelines on cancellations of settlement instructions
Settlement instructions cancellation is allowed if the instruction has not been captured in the morning batch run.
Any settlement instruction in pending cancellation status will not be considered for the morning batch run.
Settlement instructions that are not fully settled can be cancelled after the morning batch run but only for the unsettled quantity.
If the settlement instruction cancellation request is not affirmed by the counterparty before the afternoon settlement run, the cancellation request will be rejected and the instruction will be attempted for settlement.
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.