New direct link between Clearstream Banking Frankfurt and LuxCSD
Effective settlement date
Monday 22 June 2015
Clearstream Banking AG1 (CBF) will operate a new direct link to the Luxembourg central securities depository, LuxCSD. LuxCSD account holders can now settle LuxCSD issued securities directly against counterparties in the German Domestic market. This new development also supports the listing of LuxCSD issued securities on the Frankfurt Stock Exchange and can be used by Clearstream Banking Luxembourg customers.
The link can be used for settling selected debt securities and equities eligible in LuxCSD. In the future, selected investment funds will also be accepted for settlement via this new link.
CBF will introduce free of and against payment settlement in Euros and in all foreign currencies eligible in CASCADE via its new link from CBF (CASCADE account 4497) to LuxCSD. See section 4 of the CBF handbook for details of eligible currencies.
Impact on customers
Transfers between LuxCSD and CBF counterparties must be issued against CBF account number 43012 in LuxCSD.
- To deliver securities to counterparties in CASCADE, LuxCSD customers must send a matching delivery instruction against CBF’s account number 43012 at LuxCSD, indicating the four-digit CASCADE account number of the beneficiary.
- To receive securities from counterparties in CASCADE, LuxCSD customers must send a matching receipt instruction against CBF’s account 43012 in LuxCSD, including the four-digit CASCADE account number of the counterparty delivering the securities.
Instruction deadlines
- For free of payment transactions, the instruction deadline is 17:45 (CET), to ensure a same-day credit can be made in CASCADE.
- For receipt and delivery against payment transactions from or to CBF counterparties, the same-day instruction deadline is 16:00 (CET) in EUR and 17:30 (CET) in foreign currencies.
Instructions received after the above deadlines will be settled on a
“best-efforts” basis.
Impact on LuxCSD instructions
The CBF counterparty must be identified via Data Source Scheme DAKV in the second-level matching fields as follows:
CreationOnline | |
Delivery to CASCADE (second-level matching field) | Buyer CLEARSTREAM BANKING FRANKFURT - DE |
| Receipt from CASCADE (second-level matching field) | Seller CLEARSTREAM BANKING FRANKFURT - DE |
Creation via SWIFT and CreationDirect | |
Delivery to CASCADE (second-level matching field) | :95R::BUYR/DAKV/CBF 4-digit customer account in CASCADE |
| Receipt from CASCADE (second-level matching field) | :95R::SELL/DAKV/CBF 4-digit customer account in CASCADE |
Note: if the CASCADE account is not provided, the instruction will be rejected.
Further information
For further information on realignment between the CASCADE and Creation platforms for the Luxembourg market, please refer to the Realignment Guide.
For further information, customers may contact Clearstream Banking Client Services, LuxCSD Client Services or their Relationship Officer.
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1. Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB-7500.