Settlement times - Portugal
The deadlines shown below are valid provided that the client's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL/CEU/LuxCSD and in the local market. Clients must also ensure that any necessary provision is available. If one or more of these criteria are not met, CBL/CEU/LuxCSD cannot guarantee timely settlement.
Important Note: As part of CBL/CEU/LuxCSD’s internal compliance procedures, all incoming client instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the Client via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, Clients are advised to input instructions at least 15 minutes before the associated deadline.
Settlement times for all Interbolsa T2S eligible securities
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment in EUR, FOP=Free of payment, SD=Settlement date | |||||||
Receipts | FOP | 18:05a | 17:55b | 17:55 | 22:00c | 18:00 | |
AP | 18:05a | 15:55b | 15:55 | 22:00c | 18:00 | SD | |
Deliveries | FOP | 18:05a | 17:55b | 17:55 | 22:00c | 18:00 | |
AP | 18:05a | 15:55b | 15:55 | 22:00c | 18:00 | SD | |
a. Start of provision time for CEU and LuxCSD is 20:00 SD-1 (Start of Night-time Settlement (NTS)) for CEU and LuxCSD)
b. Instructions received from CEU and LuxCSD clients after 15:55 (AP) and 17:55 (FOP) are settled on a “best efforts” basis only.
c. For CEU and LuxCSD clients, first results from the NTS cycle can be expected around 22:20 SD-1.
CBL - Against payment in all other currencies with CEU counterparties
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment in EUR, FOP=Free of payment, SD=Settlement date | |||||||
Receipts | AP | 18:05 | 17:10 | 17:10 | 17:00 | 18:00 | SD |
Deliveries | AP | 18:05 | 17:10 | 17:10 | 17:00 | 18:00 | SD |
CEU - Against payment in all other currencies with CBL counterparties
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | value | |||
AP=Against payment in EUR, FOP=Free of payment, SD=Settlement date | |||||||
Receipts | AP | 20:00 | 17:10 | 17:30a | 17:00 | 18:00 | SD |
Deliveries | AP | 20:00 | 17:10 | 17:30a | 17:00 | 18:00 | SD |
a. Determined by reservation CDLR (Instruction is on hold) in T2S.
CEU and CBL clients can enter into against payment transactions with counterparties in CEU for settlement in EUR or in the foreign currencies AUD, CAD, CHF, CNY, CZK, DKK, GBP, HKD, HUF, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, USD and ZAR.