Cyprus: Settlement in Cypriot market
Our depository for Cypriot securities, Citibank Athens, has informed us that settlement in the Cypriot market continues to take place for free of payment and against payment trades for all Central Depository and Central Registry (CDCR)-eligible securities.
Citibank Athens continues to process free of payment transactions in the Cypriot market.
However, because of the capital restrictions measures enacted in Greece, against payment transactions will be processed by Citibank Athens provided the required approval is granted by the Commission of Bank Transactions Approvals. The timeframe for obtaining such an approval however is currently not known.
Impact on customers
The following transactions will be possible via Clearstream Banking:
| Cyprus |
Internal | Against and free of payment for CDCR-eligible securities |
Bridge | Not applicable |
Domestic | Free of payment for CDCR-eligible securities |
All free of payment instructions will be forwarded to our depository Citibank Athens and once settlement confirmation is received from Citibank Athens, we will report this back to our customers.
Further information
We will continue to monitor the situation.
For further information, customers may contact Client Services or their Relationship Officer.