Harmonisation of Clearstream Banking’s asset services – postponement of production launch 3 July 2023 - Update
Note: This announcement, originally published on 11 November 2022, has been updated to provide customers with a new date for the Corporate Action Harmonisation project. Changes have been highlighted.
After careful consideration, Clearstream Banking1 informs customers of the decision to postpone the implementation of the Corporate Action Harmonisation project to 3 July 2023. The postponement takes current market conditions and developments into account and aims to ensure full market member readiness as well as giving all relevant stakeholders ample time to adapt and prepare for the release.
Background
The decision has been taken against the background of several factors impacting the entire industry such as an overall complex year due to market conditions and some major project delays. As a result, this has triggered replanning efforts for all market participants, including Clearstream Banking. The postponement is in the interest of overall market readiness, upholding market integrity and boosting the level of market confidence.
Clearstream Banking’s ultimate goal remains to support customer transition with good terms and conditions.
Next steps
Until the new migration date, corporate action processing for the events as announced in the Announcements C22009 and C22039 will continue to take place under the current processing model.
Further information
If there are any questions, customers may contact their Relationship Officer, Clearstream Client Services or the OneClearstream Customer Readiness Team (OneClearstream@clearstream.com).
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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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.