OneClearstream migration to Denmark - Update
Note: This announcement, originally published on 16 February 2022, has been updated to announce the new effective date for the upgrade of the existing link to VP / Euronext Securities Copenhagen and the new migration date. Changes have been highlighted.
As a next milestone in implementing our enhanced Investor-CSD solution, effective
11 July 2022
Clearstream Banking AG 1 (CBF) is pleased to announce the upgrade of the existing link to VP / Euronext Securities Copenhagen, resulting in the eligibility of all Danish securities for Settlement in T2S.
Clearstream Banking2 will access VP / Euronext Securities Copenhagen for settlement in T2S via CBF as follows:
Country | CSD | Type of link | Securities eligible | Migration date |
Denmark | VP/ Euronext Securities Copenhagen | Direct link to VP/ Euronext T2S eligible securities | Government bonds, corporate bonds, mortgage bonds, money markets instruments, equities | Friday 8 July 2022 |
Asset servicing
As part of this market rollout, Clearstream Banking will go live with the OneClearstream asset servicing model to offer the best possible asset services for settlement in T2S.
This provides customers with full harmonisation of asset services and connectivity channels across Clearstream. There will be no changes for CBF customers in income and corporate actions flow. CBF customers will be credited with DKK on their CBF-i account as usual. This allows CBF customers not to have a DCA in DKK.
This is a change compared to the usual LMP model where cash (in EUR) is credited on CBF customer DCA.
Customer assets remain under Collective Safe Custody (CSC).
Settlement
CBF customers should not anticipate any changes to the existing settlement features for Danish securities – settling free of and against payment in EUR in T2S on their DCAs will remain available.
Against payment settlement in DKK will also optionally be available under the condition that a relevant DKK DCA is provided by the CBF customer.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. 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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.