Introduction of bilateral cancellation of internal instructions

Effective

3 December 2012

further to the Law of 10 November 2009 on payment services, as amended, and regulatory requirements for securities settlement systems, the cancellation of internal instructions presented for settlement on the Creation Platform between two Clearstream Banking¹ customers will only be possible on a bilateral basis, once such internal instructions have reached a matched status.

Impact on customers

From the above date, customers will not be able to unilaterally cancel internal instructions that, on the requested settlement date, have reached a matched status and have been presented for settlement in the Clearstream system.

Instead, a cancellation request issued to Clearstream Banking by both customers will be required before such internal instructions are cancelled in the Clearstream system.

We will provide, in due course, further details of the process and actions to be taken by customers.

Further information

For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.

1. Clearstream Banking refers collectively to Clearstream Banking AG, 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 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).