Improved settlement deadlines
Clearstream Banking1 informs customers that effective settlement date
20 March 2023
and in line with our ongoing commitment to the enhancement of our settlement services, the customer deadlines for Cyprus, Greece, Hong Kong – Bond Connect, Malaysia, and Sweden will be improved as follows:
Note: All times in this announcement are CET unless otherwise stated.
Cyprus
Instruction | Current deadline | New deadline from 20 March 2023 | |
Receipts | AP | 10:55 SD | 11:25 SD |
FOP | 10:55 SD | 11:25 SD | |
Deliveries | AP | 10:55 SD | 11:25 SD |
FOP | 10:55 SD | 11:25 SD | |
Greece
Instruction | Current deadline | New deadline from 20 March 2023 | |
ATHEXCSD-eligible securities | |||
Receipts | AP | 13:55 SD | 14:25 SD |
FOP | 13:55 SD | 14:25 SD | |
Deliveries | AP | 13:55 SD | 14:25 SD |
FOP | 13:55 SD | 14:25 SD | |
Hong Kong
Instruction | Current deadline | New deadline from 20 March 2023 | |
Bond Connect | |||
Receipts | AP | 03:30 SD | 05:30 SD |
Deliveries | AP | 03:30 SD | 05:30 SD |
Malaysia
Instruction | Current deadline | New deadline from 20 March 2023 | New deadline from | |
Securities listed on Bursa Malaysia | ||||
Receipts | FOP | 09:55 SD-1 | 10:55 SD-1 | 11:55 SD-1 |
AP | 09:55 SD-1 | 10:55 SD-1a | 11:55 SD-1a | |
Deliveries | FOP | 04:55 SD-1 | 07:55 SD-1 | 08:55 SD-1 |
AP | 04:55 SD-1 | 07:55 SD-1a | 08:55 SD-1a | |
a. This deadline is applicable for settlement via Bursa Depository Transfer. The deadline for instructions settling via the Institutional Settlement Service (ISS) mechanism is 10:55 SD-1 CET in winter and 11:55 SD-1 CEST in summer.
Sweden
Instruction | Current deadline | New deadline from 20 March 2023 | |
Bonds and other money market instruments | |||
Receipts | FOP | 12:50 SD | 14:25 SD |
AP | 12:50 SD | 14:25 SD | |
Deliveries | FOP | 12:50 SD | 14:25 SD |
AP | 12:50 SD | 14:25 SD | |
Equities | |||
Receipts | FOP | 15:50 SD | unchanged |
AP | 12:50 SD | 14:25 SD | |
Deliveries | FOP | 15:50 SD | unchanged |
AP | 12:50 SD | 14:25 SD | |
The deadlines shown above are valid provided that your instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market.
Customers are also reminded that they must ensure that any necessary provision is available and that the counterparty’s instruction is in place.
If either of these criteria is not met, Clearstream Banking cannot guarantee timely settlement.
Further information
The Settlement Timings Matrix and Market Link Guides will be updated on 18 March 2023.
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.