Unified for New Opportunities rollout documentation

Settlement | TARGET2-Securities | Releases and Initiatives | CSDR

Reference

Service level

6-series account | CEU Legacy | CEU OneClearstream

Last Updated

27.03.2026

The rollout related client documentation can be found consolidated on this page by topic and market.

Further documentation will be added once more markets have been activated.

In case of any questions, clients may contact the project via UNO@clearstream.com or their Relationship Manager.

General documentation

Topic	Document
Announcements	CEU extending its service offering by making further markets T2S eligible CEU erweitert ihr Dienstleistungsangebot, indem sie weitere Märkte T2S-fähig macht Unified for New Opportunities: Updated market activation waves and client timeline
Detailed Business Specifications	Information will be provided in the course of Q2 2026.
Tax announcement	Tax certification duplication process: From 6-series accounts to CEU: See Announcement D25021. This is possible for valid certificates referring to CEU. From 6-series accounts to CBL: See Announcement D25032. This is possible for valid certificates referring to both CEU and CBL.
FAQ Document	Unified for New Opportunities - Frequently Asked Questions
Connectivity workshop	This session took place on 14 November 2025. Premium users can access the slides here.
Funds workshop	This session dedicated to mutual funds and ETFs took place on 15 January 2026. Premium users can access the slides and the recording here.
Fee waiver announcement	Unified for New Opportunities: Temporary fee waivers for onboarding and transition activities
Market Specifics and Client Migration Workshop	The session is scheduled on 23 April 2026.
Triparty Collateral Management Service (CmaX) automatic migrations	24 October 2026 – GC Pooling and Re-Use collateral migration January 2027 – CmaX pledge collateral migration

Market-specific information

Wave 1: December 2025 (Norway and Australia)

ISIN “T2S” Activation: 12 December 2025.
All German stock exchange trades received from 12 December 2025 (timestamp of the instructions) will settle on CEU accounts.

Topic	Document
Detailed Functional Specifications: Norway and Australia	Unified for New Opportunities - Detailed Functional Descriptions
Tax forms and certification	For CEU clients: Unified for New Opportunities - Norway - New tax forms for Clearstream Europe AG clients Unified for New Opportunities - Australia - New tax forms for Clearstream Europe AG clients For CBL clients: The current is still applicable: Tax Forms to use - Norway The current is still applicable: Tax Forms to use - Australia
Client Test	Completed testing windows: UCSA Service first testing window from 27 August to 10 September 2025. UCSA service second testing window from 20 October to 3 November 2025. Client testing window for the first wave from 3 November 2025 until migration in December 2025. For any testing-related queries, please contact uno-test@clearstream.com.
Summary Session 2	The session took place on 16 September 2025. Premium users can access the slides and the recording here.
Market activation announcements	Unified for New Opportunities: Wave 1 market activation for Norway and Australia Unified for New Opportunities: Wave 1 market activation milestones for Norway and Australia
Impacted ISINs	Updated ISIN lists will be published several times: 1 month, 2 weeks and 1 day before the market activation date. Final ISIN List Norway Final ISIN List Australia

Wave 2: June 2026 (USA, Canada and Switzerland)

ISIN “T2S” Activation and update to custody type "NCSC-T": 1 June 2026
All German stock exchange trades received from 1 June 2026 (timestamp of the instructions) will settle on CEU accounts.

Please note that all active CSC ISINs for these markets will also be in scope. They are already active in T2S, and the German Stock Exchange is already settling in CEU. Their custody type will change to NCSC-T, OneCAS will be activated and new domestic security CSD links to DTCC and SIX SIS via CBL will be valid from 1 June 2026.

Topic	Document
Detailed Functional Specifications: USA, Canada and Switzerland	Unified for New Opportunities - Detailed Functional Descriptions
Tax forms and certification	Unified for New Opportunities - U.S.A - New tax forms for Clearstream Europe AG clients Unified for New Opportunities - Canada - New tax service for Clearstream Europe AG clients Unified for New Opportunities - Switzerland - No change in tax service, no impact by the project
Client Test	Client testing for wave 2, which is planned for June 2026, will take place from 23 February to 26 March 2026. Please register by 13 February 2026 via this link. Registrations received after this date will be processed on a best-effort basis. To participate in wave 2 testing, Clearstream asks clients who are already registered for wave 1 to confirm their involvement in wave 2 testing either by filling out the form or by emailing uno-test@clearstream.com. The testing window will cover both settlement and asset servicing tests. Asset servicing tests are planned to start on 16 March 2026. Further details will be communicated in due course. For any testing-related queries, please contact uno-test@clearstream.com. Note: Clearstream's testing systems will not be available from 27 March to 17 April 2026 (from 13 to 17 April 2026, technically available without support). For further details, please visit Availability and schedules of the client simulation.
Second testing window for Wave 2	Clearstream informs clients that a second testing window for Wave 2 has been scheduled. This additional period is intended to support clients who require more time to complete their settlement and asset servicing testing activities. Extended Testing Window 20 April to 27 April 2026 Testing during this period will continue to cover both settlement and asset servicing functionalities (all CA events will have Record date 21st). Clients who have already submitted the subscription form do not need to register again and may continue testing seamlessly during the extended window. Note: Clearstream's testing systems will not be available from 27 March to 17 April 2026 (from 13 to 17 April 2026, technically available without support). For further details, please visit Availability and schedules of the client simulation. For any testing-related queries, please contact uno-test@clearstream.com.
Wave 2 Migration Dress Rehearsal and Eurex Clearing Testing Start	Wave 2 migration dress rehearsal is schedule for 29 April 2026, following by the trilateral SIMU cut off test with Eurex Clearing that will start on 30 April 2026. For any testing-related questions, please contact: uno-test@clearstream.com uno.ecag@eurex.com
German ADRs announcement	Unified for New Opportunities: Wave 2 market activation for German ADRs
Impacted ISINs	Updated ISIN lists will be published several times: 1 month, 2 weeks and 1 day before the market activation date.

Wave 3: September 2026 (Sweden, Poland, Mexico, New Zealand, Czech Republic and Hong-Kong)

ISIN “T2S” Activation: 11 September 2026.
All German stock exchange trades received from 11 September 2026 (timestamp of the instructions) will settle on CEU accounts.

Topic	Document
Detailed Functional Specifications: Czech Republic, Hong Kong, Mexico, New Zealand, Poland, Sweden	Unified for New Opportunities - Detailed Functional Descriptions
Tax forms and certification	Unified for New Opportunities - Czech Republic - New tax forms for Clearstream Europe AG clients Unified for New Opportunities - Hong Kong - No tax service, no impact by the project Unified for New Opportunities - Mexico - No tax service, no impact by the project Unified for New Opportunities - New Zealand - New tax forms for Clearstream Europe AG client Unified for New Opportunities - Sweden - New tax forms for Clearstream Europe AG clients
Impacted ISINs	Updated ISIN lists will be published several times: 1 month, 2 weeks and 1 day before the market activation date.

Wave 4: December 2026 (Argentina, Hungary, Indonesia (Equities), Israel, Japan, Romania, Thailand (Equities) and Transfer Agents - Mutual Funds)

ISIN “T2S” Activation: 4 December 2026.
All German stock exchange trades received from 4 December 2026 (timestamp of the instructions) will settle on CEU accounts.

Topic	Document
Tax forms and certification	Unified for New Opportunities - Argentina - no tax service, no impact by the project Unified for New Opportunities - Japan: New tax forms for Clearstream Europe AG clients
Impacted ISINs	Updated ISIN lists will be published several times: 1 month, 2 weeks and 1 day before the market activation date.