Year-end processing and instruction deadlines 2017
Clearstream Banking1 reminds customers of the impact of the year-end processing holidays on settlement and cash.
All times in this Announcement are Central European Time (CET).
Clearstream Banking year-end processing
25 December 2017 and 1 January 2018 will be Clearstream Banking non-business days.
The night-time processing (between Clearstream Banking and Euroclear Bank) on 22 December and on 29 December 2017 will run as usual.
The 22 December and 29 December 2017 end of day reports will be available as usual.
Instruction timings for Clearstream Banking customers
Please pay special attention to the following details related to securities instructions that contain a requested settlement date that is the same as a Clearstream non-business day.
For domestic, internal and Bridge instructions, the following special procedures will apply.
For internal and Bridge instructions:
- Instructions received with a requested settlement date of 25 December 2017 or 1 January 2018 will not be processed for settlement until the next Clearstream Banking business day, being 26 December 2017 or 2 January 2018, respectively.
As a consequence, for all internal and Bridge instructions, the debit and credit of cash will be given the value of 26 December 2017 or 2 January 2018, provided the instructions settle on those days.
For domestic instructions, the following special procedures will apply:
- The effective settlement date for instructions with a requested settlement date of 25 December 2017 or 1 January 2018 will be the first Clearstream Banking business day following the Clearstream non-business day, being 26 December 2017 or 2 January 2018, respectively, under the condition that the instructions settle in the market with the requested settlement dates.
- For receipt instructions that settle on the market on 25 December 2017 or 1 January 2018, the cash countervalue of the trade will be debited with value 25 December 2017 or 1 January 2018, respectively. The debit of cash in Clearstream Banking will be booked on 26 December 2017 or 2 January 2017, respectively.
- For delivery instructions that settle on the market on 25 December 2017 or 1 January 2018, the cash countervalue of the trade will be credited with value date 26 December 2017 or 2 January 2018, respectively. The credit of cash in Clearstream Banking will be booked on 26 December 2017 or 2 January 2018 respectively
Securities and cash instructions
Customers are reminded that processing holidays are shown in the Cash and Securities Holidays, which are updated as soon as information is available.
In the below-mentioned markets, however, exceptional deadlines or exceptional arrangements apply:
Bulgaria
Changed deadlines in the Bulgarian market on 29 December 2017
The Bulgarian National Bank (BNB) and CSD (Central Depository AD) have announced shorter cut-off times for 29 December 2017
Clearstream Banking deadlines are as follows:
T-bills and government bonds free and against payment | 12:30 |
Equities, investment funds, corporate, mortgage and municipal bonds - SE Trades free of payment | Unchanged |
Equities, investment funds, corporate, mortgage and municipal bonds - SE Trades against payment | Unchanged |
Cash | Unchanged |
Poland
Changed deadlines in the Polish market on 29 December 2017
Clearstream Banking deadlines are as follows:
| WSE transactions | 09:00 |
| All OTC transactions (DVP, FOP, equities, T-bonds, T-bills, covered, corporate and municipal bonds) | 10:30 |
| Cash | VD 12:00 |
Changed deadline in the Polish market on 2 January 2018
Clearstream Banking deadline for OTC transactions is as follows:
All OTC transactions | 10:30 |
Unchanged WSE transaction and Cash deadlines on this date
Russia
Winter break from 1 to 8 January 2018
There will be no trading, clearing or settlement of trades on 1 to 8 January 2018 inclusive, however Free of Payment instructions will be possible on 4 and 5 January 2018.
| Closing period |
Free of Payment transaction | From 1 to 3 January 2018 inclusive and 8 January 2018 |
Delivery versus Payment in Rub and USD | From 1 to 8 January 2018 inclusive |
Cash | From 1 to 8 January 2018 inclusive |
Business will resume on 9 January 2018.
United Kingdom
Shorter deadlines for securities against payment transactions in the UK market with a requested settlement date of 29 December 2017:
| Securities deposited in Citibank UK | 10:00 |
Gilts | 10:00 |
| Cash pre-advices and withdrawals of funds | 10:00 |
Instructions transmitted after the above Clearstream Banking deadline, but for the same requested settlement date, could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.
For more details, please refer to Announcement A17154.
The above-mentioned Clearstream Banking deadlines are valid provided that the customer’s instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, Clearstream Banking cannot guarantee timely settlement.
Christmas Day 2017 and New Year's Day 2018
Clearstream Banking will be closed on Christmas Day 2017 and New Year's Day 2018.
Business will be as usual on 26 December 2017 and on 2 January 2018.
Seasonal greetings
We would like to take this opportunity to wish all customers an enjoyable and peaceful end of year and a prosperous and happy 2018.
Further information
For further information please contact Clearstream Banking Client Services or your 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.