Postponement of ISO 20022 rollout for General Meetings
LuxCSD1 informs customers about the postponement of the ISO 20022 rollout for General Meetings, originally scheduled for 22 November 2021.
Clearstream Banking initiated the migration and customer readiness preparations of the General Meeting business to the new ISO 20022 message format during 2020.
A thorough analysis of the level of readiness of our customers, depositories and local market providers for this change has shown that the level of readiness in the market is not sufficiently high enough to move ahead with the planned migration. Feedback collected from customer and partner groups have firmly confirmed this view. Therefore Clearstream Banking has decided to maintain the existing General Meeting service, based on ISO 15022 (MT56x) format, for the time being.
Clearstream Banking remains entirely committed to a timely and complete migration of the message formats to ISO 20022 for General Meetings. The necessary postponement will provide customers with adequate time to fully prepare and test the new message formats and conduct the necessary internal readiness measures accordingly. This will ensure a safe and successful market transition to the new message format in the course of 2022. The new timetable for implementation of the business activation of ISO 20022 for General Meetings will be communicated in due course.
For further information, please contact your Relationship Officer or OneClearstream@Clearstream.com.
1. LuxCSD refers to LuxCSD S.A., registered office at 42, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B-154.449.