Corporate Action Harmonisation – KADI DE Migration to OneCAS: Postponement of production launch to 3 July 2023 - Update
Note: This announcement, originally published on 4 November 2022, has been updated to provide customers with an implementation date of the Corporate Action Harmonisation project (KADI DE Migration to OneCAS). Changes have been highlighted.
After careful consideration, Clearstream Banking1 informs customers of the decision to postpone the implementation of the Corporate Action Harmonisation project (KADI DE Migration to OneCAS) to 3 July 2023. The postponement is taking current market conditions/developments into account and aims at ensuring 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 as well. 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 the customers’ transition in good terms and conditions.
Next steps
Until the new migration date, corporate action processing for the securities and events in scope of KADI DE Migration to OneCAS will continue to take place under the current KADI processing model.
Clearstream Banking also plans to provide an additional test cycle for customers (exact dates to be announced in due course). A new customer simulation guideline will be published on the website then.
Migration Guidelines together with cutover details will also be published in due course.
Further Information
For information regarding the Corporate Action Harmonisation Project customers should refer to Announcement D22016 and the Detailed Functional Specifications.
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. This Announcement is published by 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.