Settlement times - Iceland
The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) in LuxCSD and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, LuxCSD cannot guarantee timely settlement.
Important Note: As part of LuxCSD’s internal compliance procedures, all incoming customer 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 Customer 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, Customers are advised to input instructions at least 15 minutes before the associated deadline.
Settlement times in Central European Time (CET)
31 March 2024 – 26 October 2024
| Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
| start | end | from | to | value | |||
| AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
| OTC instructions via off-market method | |||||||
| Receipts | FOPa | 21:30 SD-1 | 16:30 SD | 16:30 SD | 13:00 SD | 22:00 SD | |
| Deliveries | FOPa | 21:30 SD-1 | 16:30 SD | 16:30 SD | 13:00 SD | 22:00 SD | |
| OTC instructions via NCSD, TRS matching system | |||||||
| Receipts | APa | 21:30 SD-2 | 17:00 SD-1 | 17:00 SD-1 | 14:30 SD | 17:30 SD | SD |
| Deliveries | APa | 21:30 SD-2 | 17:00 SD-1 | 17:00 SD-1 | 14:30 SD | 17:30 SD | SD |
a. When free of payment book-entry receipts or deliveries are transmitted after the “Deadline for receipt of valid instruction”, instructions will still be transmitted with the same requested settlement date and may therefore still settle on settlement day.
27 October 2024 – 29 March 2025
| Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
| start | end | from | to | value | |||
| AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
| OTC instructions via off-market method | |||||||
| Receipts | FOPa | 20:30 SD-1 | 15:30 SD | 15:30 SD | 11:00 SD | 20:00 SD | |
| Deliveries | FOPa | 20:30 SD-1 | 15:30 SD | 15:30 SD | 11:00 SD | 20:00 SD | |
| OTC instructions via NCSD, TRS matching system | |||||||
| Receipts | APa | 20:30 SD-2 | 16:00 SD-1 | 16:00 SD-1 | 12:30 SD | 15:30 SD | SD |
| Deliveries | APa | 20:30 SD-2 | 16:00 SD-1 | 16:00 SD-1 | 12:30 SD | 15:30 SD | SD |
a. When free of payment book-entry receipts or deliveries are transmitted after the “Deadline for receipt of valid instruction”, instructions will still be transmitted with the same requested settlement date and may therefore still settle on settlement day.
Settlement times in Reykjavik time
All year
| Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
| start | end | from | to | value | |||
| AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
| OTC instructions via off-market method | |||||||
| Receipts | FOPa | 19:30 SD-1 | 14:30 SD | 14:30 SD | 11:00 SD | 20:00 SD | |
| Deliveries | FOPa | 19:30 SD-1 | 14:30 SD | 14:30 SD | 11:00 SD | 20:00 SD | |
| OTC instructions via NCSD, TRS matching system | |||||||
| Receipts | APa | 19:30 SD-2 | 15:00 SD-1 | 15:00 SD-1 | 12:30 SD | 15:30 SD | SD |
| Deliveries | APa | 19:30 SD-2 | 15:00 SD-1 | 15:00 SD-1 | 12:30 SD | 15:30 SD | SD |
a. When free of payment book-entry receipts or deliveries are transmitted after the “Deadline for receipt of valid instruction”, instructions will still be transmitted with the same requested settlement date and may therefore still settle on settlement day.