Partial release functionality and settlement changes

Note: This announcement, originally published on 22 May 2021 and updated on 11 October 2021.

Clearstream Banking¹ informs customers that effective

22 November 2021

a new partial release service will be offered to our customers for internal and Bridge deliveries.

What is partial release?

Partial release allows customers to release a previously “on hold” delivery instruction for part of the original quantity of the instruction.

Who is impacted?

This service targets CBL and CBF-i customers with an omnibus account structure in Clearstream Banking.

Why do we offer partial release?

Partial release is a key component to increase partial settlement usage and settlement efficiency. Today, a customer using an omnibus account structure is not likely to release their instructions to the market until fully provisioned in their books to avoid the risk of short selling and using positions from another underlying client. In the future, these customers will be able to use Clearstream Banking’s partial settlement service by partially releasing their instructions depending of the quantity available in their own books.

How to use partial release?

Via Xact via SWIFT MT530 or Xact Web Portal

Additional service enhancements

In addition to the partial release functionality, Clearstream Banking will enhance some of its existing services:

Similar to the customer requirement of having a unique sender’s reference in all inbound instructions (C21018). Clearstream Banking will offer an optional service to receive a unique reference in each settlement update and confirmation message.
It will be possible to cancel partially settled instructions by either using the original or the remaining quantity/cash amount.
Acknowledgement of transaction modification (optional).
Multiple enhancements of settlement reporting.
New rules for delivery without matching instructions (A21019).

All the above information is provided in the detailed functional specification document that is attached below.

Further information

For further information, please contact Clearstream Banking Client Services or your 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.