|Clearstream Extends Daytime Processing and Increases Interoperability |
|26. Juli 2005|
Clearstream: Clearstream has extended its daytime processing period by up to two hours to 18:00 CET now covering 13 hours and at the same time has set new cash and securities deadlines. Through these extended processing capabilities and improved deadlines customers benefit from enhanced liquidity in securities processing and from more flexibility for managing their cash.
The new continuous daytime settlement processing period extends through to 18:00 CET. As a result, three areas of deadline improvements have been achieved for internal instructions, securities instructions and cash instructions
Chief Operating Officer Matthias Ganz commented: "These improvements, delivered in line with Clearstream’s commitment to efficiency and customer service, further increase the interoperability with domestic markets notably in the U.S. time zone. Customers will be able to achieve savings through significantly improved market access and more flexibility in cash and securities management."
Clearstream is the post-trade division of Deutsche Börse Group, the world’s largest exchange operations company when measured by revenues. It offers a comprehensive settlement service for equities and bonds both domestic and cross-border and investment funds to a global customer base.
Details on improved deadlines
- Internal instruction deadlines
Customers are able to submit securities and cash instructions, or correct erroneous instructions, for internal settlement in Clearstream up to 18:00 CET and still achieve “same day settlement”.
- Securities instruction deadlines
Customers benefit from new domestic instruction deadlines for cross border settlement in European markets.
Improvements include the German market where securities instruction deadlines for four different cycles have been extended by up to two hours. The instruction deadline for US securities has been extended by two hours. Further improvements to domestic securities instructions deadlines include, Denmark, Luxembourg, the Netherlands, Poland, Portugal, Switzerland and the UK, Argentina, Canada and Mexico, China and Indonesia.
- Cash instruction deadlines have been extended in two major currencies, the USD and the Euro. Cash. Instruction deadlines have also been improved for the Canadian dollar and latin American currencies - Argentina, Mexico and Uruguay pesos.