Israel: New T+1 settlement regime for equities
Effective
18 March 2012
the Tel Aviv Stock Exchange (TASE) will implement a new T+1 settlement regime for equities as part of infrastructure improvements.
Background
Equities currently settle in the local market on trade date (T+0). Typically, foreign investors arrange a T+2 settlement cycle with local brokers, this arrangement should not be impacted by the new regime.
For delivery versus payment transactions, cash currently settles on SD+1.
Impact on customers
Clearstream customers should not be affected by this new T+1 settlement cycle for equities in the domestic market.
Clearstream will update customers if there are any further developments.
Further information
For further specific information, please contact Clearstream Banking Customer Service or your Relationship Officer.
For more general information regarding our products and services, please visit http://www.clearstream.com/.