Indonesia: Temporarily shortened settlement and cash deadlines - update VI

30.07.2020

Note: This announcement, originally published on 27 March 2020 and updated on 9 April, 28 May, 12 June, 26 June and 10 July 2020, has been further updated with an extended period. Changes have been highlighted.

Clearstream Bankinginforms customers that with effect from

30 March and until 15 August 2020

the Indonesia Stock Exchange (IDX), Central Clearing Guarantee and Corporation (PT Kliring Penjaminan Efek Indonesia – KPEI), Central Securities Depository (PT Kustodian Sentral Efek Indonesia – KSEI) and Central Bank (Bank Indonesia – BI) will shorten the operating cut-off times for trading and settlement of equities and fixed income as well as cash payments and foreign exchange (FX) services.

Consequently, our settlement and Indonesian Rupiah (IDR) cash deadlines will be adjusted as follows during this period. As soon as we have new updates to these deadlines, we will notify customers again.

Note: All times in this announcement are in Central European Time (CET) unless otherwise stated.

Settlement deadlines

Instruction

Current deadline

Temporarily shortened deadline from 30 March until 15 August 2020

Receipts

FOP

03:55 SD

03:55 SD

AP

03:55 SD

03:55 SDa

Deliveries

FOP

03:55 SD

03:55 SD

AP

03:55 SD

03:55 SDa

a. When a sale or purchase of IDR is required for securities settlement, the settlement instructions must be received by CBL not later than 11:30 on SD-2. Credit facilities in IDR are not available for foreign investors. Customers that do not require an FX transaction to cover settlement of securities transactions must fund the IDR account of Clearstream Banking with Citibank at the latest by 12:00 (Jakarta time) on SD-1. Failure to meet this deadline may incur penalties, which will be passed on to the relevant customers.

Cash deadlines

Current deadline

Pre-advice

Withdrawal

Transfer

FX

Above IDR 250 billion (RTGS)

VD-1 09:00

VD-1 09:00a

-

VD-2 10:00

Above IDR 100 million to IDR 250 billion (RTGS)

VD 05:30

VD 05:30

-

VD-2 10:00

Up to IDR 100 million (SKN)b

VD 05:30

VD 05:30

-

VD-2 10:00

a. IDR: Due to limited market liquidity, withdrawals of IDR with countervalue above IDR 250 billion must be instructed by VD-1 09:00. Withdrawals instructed for such amounts after the VD-1 09:00 deadline up until VD 05:30 will settle with good value on a “best efforts” basis only and may therefore be delayed until the following business day.

b. IDR: When instructing for amounts under IDR 100 million, customers must include certain details as indicated in the Market Link Guide.

Temporarily shortened deadline from 30 March until 15 August 2020

Pre-advice

Withdrawal

Transfer

FX

Above IDR 250 billion (RTGS)

No change. Remains at VD-1 10:00

No change. Remains at VD-1 10:00a

-

VD-2 09:00

Above IDR 100 million to IDR 250 billion (RTGS)

VD 05:30

VD 05:30

-

VD-2 09:00

Up to IDR 100 million (SKN)b

VD 05:30

VD 05:30

-

VD-2 09:00

a. IDR: Due to limited market liquidity, withdrawals of IDR with countervalue above IDR 250 billion must be instructed by VD-1 10:00. Withdrawals instructed for such amounts after the VD-1 10:00 deadline up until VD 05:30 will settle with good value on a “best efforts” basis only and may therefore be delayed until the following business day.

b. IDR: When instructing for amounts under IDR 100 million, customers must include certain details as indicated in the Market Link Guide.

Impact on customers

Customers are requested to take note of the changes and to send timely settlement and cash instructions to Clearstream Banking to avoid settlement and cash processing delays.

Further information

We will continue to monitor the situation, and will inform customers when further news is received from the market.

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.