Securities Lending and Borrowing Service: Alignment to shortened T+1 settlement cycle
Clearstream Banking1 informs clients that, following the adoption of a shortened T+1 settlement cycle for instructions in the below markets:
- U.S. (DTC securities issued in the United States) as from 28 May 2024;
- Canada and Mexico (equities and stocks listed on the “SIC Capitales” (International Quotation System)) as from 27 May 2024,
effective
10 June 2024
as part of Clearstream Banking’s continuous effort to provide market leading securities lending services, the recall window applicable for all impacted securities has been reviewed and the recall deadline brought forward to 19:30 CET on trade date (T) for return of securities on loan on a next-business-day (T+1) basis (that is, recall period of one business day).
Detections, substitutions and recall notification processes will continue to run on a continuous basis during Clearstream Banking’s settlement window.
Clients will find the respective updates in the securities lending product guides:
Clients may also refer to FAQs available on the Webinar: Supporting clients in the transition to a T+1 settlement cycle in the U.S.A. page.
Further Information
For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.
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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 (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.