UK and Ireland: Improved cash and settlement deadlines
Clearstream Banking1 advises customers that, effective
20 June 2016
due to the changes in the cash settlement system, CHAPS and the Euroclear UK and Ireland (EUI) settlement system, CREST, the domestic settlement and cash instruction deadlines for UK and Irish CREST eligible securities will be improved.
The improved deadlines are part of Clearstream Banking’s ongoing commitment to enhance its settlement services.
Impact on customers
The domestic settlement2 and cash instruction deadlines will be improved as follows:
Link via Citibank, N.A. London | Current deadline | New deadline |
CREST-eligible securities | ||
Deliveries/Receipts Free of Payment | 16:55 SD | 18:25 SD |
Deliveries/Receipts Against Payment | 14:25 SD | 15:20 SD |
Domestic GBP cash instructions | 16:10 SD | 18:00 SD |
Note: UK Government debt instruments via the Clearstream Banking direct link to Euroclear UK & Ireland Ltd London (EUI) are not affected by this change.
Further information
The Creation Link Guide (United Kingdom or Ireland) and related documentation will be updated accordingly.
For further information, please contact the Clearstream Banking Client Services or your Relationship Officer.
---------------------------------------
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 CBF customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
2. Changes to the settlement deadlines only apply to the CREST eligible securities via the Citibank NA link for UK and Ireland).