Year end processing and instruction deadlines 2013 - update IV
Clearstream Banking1 is pleased to remind customers of the impact of the year-end processing holidays on settlement.
All times in this document are Central European Time (CET).
Clearstream Banking Year-end processing
The night-time processing on 24 December 2013 (between Clearstream Banking and Euroclear Bank) will be delayed and run on 25 December 2013 at 21:00. Reports will be available on 25 December 2013 at the usual time.
The night-time processing on 31 December 2013 (between Clearstream Banking and Euroclear Bank) will be delayed and run on 1 January 2014 at 21:00. Reports will be available on 1 January 2014 at the usual time.
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
The Bulgarian National Bank (BNB) and CSD (Central Depository AD) have announced earlier cut-off times for 30 December 2013.
Clearstream Banking deadlines are as follows:
- Settlement instructions
T-bills and government bonds free of payment: 13:10
Equities, investment funds, corporate, mortgage and municipal bonds - SE Trades free of payment: 11:55
Equities, investment funds, corporate, mortgage and municipal bonds - SE Trades against payment: 08:55 - Cash payments: unchanged
Czech Republic
Early closing on 31 December 2013 at CDCP.
Clearstream Banking deadlines are as follows:
- Settlement instructions
Bonds and equities against payment: unchanged
Bonds and equities free of payment: 13:25
T-bills against and free of payment: unchanged - Cash payments: unchanged
Dubai
The NASDAQ Dubai link is operated via Deutsche Bank (DB), Amsterdam. While NASDAQ Dubai remains open on 25 and 26 of December 2013, DB Amsterdam will be closed on these dates.
In order to settle on NASDAQ Dubai on 25 and 26 December 2013, please send your instructions to us by 24 December 2013 before our applicable deadline. Your instructions will be released on 24 December 2013 for settlement in NASDAQ Dubai on 25 and 26 December 2013.
Settlement confirmations for these dates will be sent when DB Amsterdam opens for business on 27 December 2013.
Estonia, Latvia and Lithuania
Early closing on 23 December 2013 at AS SEB Pank, Clearstream Banking's depository for Estonian, Lativian and Lithuanian markets. The Latvian market will be closed.
Clearstream Banking deadlines are as follows:
Estonian Securities:
- For settlement instructions against payment: 10:00
- For settlement instructions free of payment: 12:00
Lithuanian Securities:
- For settlement instructions against payment: unchanged
- For settlement instructions free of payment: 12:00
There is no change of deadline for cash payments for EUR and LTL.
24 December 2013 is closed in Estonia, Latvia and Lithuania for both securities settlement and cash payments (EUR, LVL and LTL).
30 December 2013 is a non-business day in Latvia. However, because of the EUR conversion, the Latvian CSD, CBL's depository and Cash Correspondent Bank will be open on that day.
- 30 December 2013 is the last day to settle LVL cash transactions with an early closing at 10:30
- 30 December 2013 is the last day to settle external securities transactions in LVL for Latvian equities. No early closing is applicable.
For more details about the EUR conversion in Latvia and the related special end of year calendar, please refer to Announcement A13181.
Early closing on 31 December 2013 at AS SEB Pank, Clearstream Banking's depository for Estonian, Lativian and Lithuanian markets. The Latvian market will be closed.
Clearstream Banking deadlines are as follows:
Estonian Securities:
- For settlement instructions against payment: 09:30
- For settlement instructions free of payment: 11:30
Lithuanian Securities:
- For settlement instructions against payment: unchanged (this is a non-trading day)
- For settlement instructions free of payment: 11:30 (this is a non-trading day)
There is no change of deadline for cash payments for EUR and LTL.
Finland
Early closing on 31 December 2013 at the OM system of Euroclear Finland (equities and corporate bonds)
Clearstream Banking deadlines are as follows:
- Settlement against and free of payment: 09:30
- All other deadlines remain unchanged
Iceland
Early closing on 31 December 2013 at the Depository Ltd., ISD.
Clearstream Banking deadlines are as follows:
- Settlement free of payment for OTC instructions (off market): 12:00
- Settlement against payment for OTC instructions (via ISD, TRS matching system): unchanged
- Cash: unchanged
Ireland
Early deadlines for securities against payment transactions in the UK market with requested settlement date 31 December 2013.
Clearstream Banking deadlines are as follows:
- Securities deposited in Citibank UK (DVP/GBP): 10:00
- All other deadlines remain unchanged
Instructions transmitted after the above CBL deadline but for the same requested settlement date may still settle on the requested settlement date and therefore can affect customer cash balances at close of business.
For more details, please refer to Announcement A13193.
Luxembourg - VP Lux
No cross border settlement with counterparties in VP Denmark for the intended settlement date 23 December 2013 will take place for the following securities:
LU0395671646; LU0399589703; LU040179313; LU0514466159; LU0541785142; LU0652821603; LU0641928337; LU0683008865; LU0688209104; LU0834950817
Poland
Early closing on 24 December 2013 as the local CSD will have only 2 (not 3 as standard) settlement sessions. Additionally, following our experience, cash liquidity on the market will be low.
Clearstream Banking deadlines are as follows:
- WSE equities transactions: closed
- OTC equities transactions: 11:25
- T-bonds transactions OTC: 11:25
- T-bills: unchanged
- Cash: unchanged
Early closing on 31 December 2013 as the local CSD will have only 2 (not 3 as standard) settlement sessions. RPW (T-bills) and Sorbnet (cash) will apply earlier deadlines. Additionally, following our experience, cash liquidity on the market will be low.
Clearstream Banking deadlines are as follows:
- WSE equities transactions: 10:05
- OTC equities transactions: 11:25
- T-bonds transactions OTC: 11:25
- T-bills: 12:25
- Cash: 12:30
Russia
Early closing of the NSD on 31 December 2013.
Clearstream Banking deadlines are as follows:
- Equities not requiring re-registration-domestic counterparty: unchanged
- Equities requiring re-registration: unchanged
- Debt securities - domestic counterparty: 08:50
- Cash: unchanged
Singapore
24 December 2013 and 31 December 2013 are half working days at CDP.
Clearstream Banking deadlines are as follows:
- Settlement of CDP-eligible securities (equities, warrants, loan stocks and domestic scripless bonds):
10:20 on 23 December 2013 for settlement 24 December 2013
10:20 on 30 December 2013 for settlement 31 December 2013 - Settlement of Non-CDP-eligible domestic bearer corporate bonds: unchanged
- Settlement of Singapore government securities (MAS): unchanged
- Cash payments: unchanged
Slovenia
Early closing 31 December 2013.
Clearstream Banking deadlines are as follows:
- DVP and FOP setllement instructions: 13.30
Spain
24 December 2013 and 31 December 2013 will be trading and settlement business days. However, due to early closing at the stock exchange, the Clearstream Banking deadlines on both 24 December 2013 and 31 December 2013 are as follows:
- Settlement put-through instructions: 12:15
- CA rights trading: 09:00
Additionally, from information received from Iberclear, buy-ins that would normally be executed on 24 December and 31 December will be moved to the start of the following business day (27 December 2013 and 2 January 2014 respectively).
United Kingdom
Early deadlines for securities against payment transactions in the UK market with requested settlement date 31 December 2013.
Clearstream Banking deadlines are as follows:
- Securities deposited in Citibank UK: 10:00
- Gilts: 10:00.
- Cash pre-advices and withdrawals of funds: 10:00
Instructions transmitted after the above CBL deadline but for the same requested settlement date could still settle on the requested settlement date and therefore can affect customer cash balances at close of business.
For more details, please refer to Announcement A13191.
Note: Kerry Group Registrars (R019) will be closed from 24 December 2013 until 2 January 2014. Therefore, settlement will not occur for those transactions that involve the ISIN IE0004906560/KERRY GP EUR 0.125.
Uruguay
Early closing 24 December 2013.
Clearstream Banking deadlines are as follows:
- DVP and FOP setllement instructions: 11.30
- For cash payments: 11.30
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 CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.
Christmas Day 2013 and New Year's Day 2014
Christmas Day in 2013 and New Year's Day in 2014 both fall on a Wednesday, Clearstream Banking will be closed on both dates. Business will be as usual on 26 December 2013 and on 2 January 2014.
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 2014.
Further information
For further information please contact Clearstream Banking Customer Service or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).