ClearstreamXact upcoming reporting enhancements - Update
Note: This announcement, originally published on 31 October 2024, has been updated with additional reporting information. Changes have been highlighted.
Clearstream Banking AG1 informs clients about the upcoming changes to Xact Web Portal, effective
18 November 2024
Displaying detailed account name for CBF 7-digit accounts
The CBF account names shown in Xact Web Portal will be harmonised with the detailed account names displayed in CASCADE.
Reporting of OTC instructions in recycling
CBF recycles Stock Exchange (SE) and OTC instructions. The SE instructions being recycled are already reported with a pending status “T2S Processing Recycling” in the MT537 and MT548. As described in Announcement D24024, OTC instructions in recycling will be added to the OneClearstream reporting.
Report subscription
The Xact Web Portal report subscription options will be further enhanced to limit the real-time reporting received to the settlement activity initiated by the respective instructing party (for example, Power of Attorney (PoA) Takers) for CBF 7-digit accounts .
In Business Report Centre, a new filter is available in the subscription for the MT548 status message and MT544-547 settlement confirmation that will allow only those instructions that contain a specific instructing BIC to be reported. The instruction BIC will be selected in a free text box.
DCP filtering for real-time reporting
The Xact Web Portal subscriptions will be further enhanced to enable CBF clients who act as T2S DCP (Directly Connected Participant) to exclude Clearstream real-time reporting for instructions directly submitted to T2S in DCP mode to avoid duplicate settlement reporting from Clearstream and T2S. It will be possible to subscribe to reporting for instructions submitted in ICP mode only, that is through CBF.
For MT54x settlement confirmations and MT548 Settlement Status and Processing advice a new tick box "Exclude DCP instructions" in the report details section of the subscription will be added.
Settlement reporting of the original reference
After the release in November, CBF will transmit to T2S the own references self-assigned by the initiators in ICP mode in the Swift field :20C::SEME// or as AUFTRAGSREFERENZ in CASCADE Host in an additional field. All OTC instructions are affected (including CCP instructions).
Nothing changes in the CBF Legacy reporting via LIMA. CBF clients can still find their original reference in the Swift field :20C::RELA/. However, since this field is used for other purposes in the OneClearstream reporting, the order reference will appear there in the following fields:
Xact Web Portal
or
OneClearstream Settlement Reporting ISO 15022
- MT548 (Settlement Status and Processing Advice)
Sequence B1: :20C::PROC// of the MT548 for Party SEQ B1::95a::DEAG or
Sequence B1: :20C::PROC// of the MT548 for Party SEQ B1::95a::REAG - MT54X (Settlement Confirmation)
Sequence E1: :20C::PROC// of the MT54x for Party SEQ E1::95a::DEAG or
Sequence E1: :20C::PROC// of the MT54x for Party SEQ E1::95a::REAG
CBF clients who receive their reporting in DCP mode will find their original reference in the following fields of the T2S reporting:
- Instruction (copy) (sese.023)
SctiesSttlmTxInstr/DlvrgSttlmPties/Pty1/PrcgId / or SctiesSttlmTxInstr/RcvgSttlmPties/Pty1/PrcgId - Status reporting (sese.024)
SctiesSttlmTxStsAdvc/DlvrgSttlmPties/Pty1/PrcgId / or SctiesSttlmTxStsAdvc/RcvgSttlmPties/Pty1/PrcgId - Settlement confirmation (sese.025)
SctiesSttlmTxConf/DlvrgSttlmPties/Pty1/PrcgId / or SctiesSttlmTxConf/RcvgSttlmPties/Pty1/PrcgId
Like this, it will be possible in the OneClearstream and in the T2S reporting to find the self-assigned order reference of the instructions sent in ICP2 mode. The aim is to offer a seamless reconciliation of the settlement feedback for instructions set up in T2S by CBF (DAKVDEFFXXX as "Instructing Party") and hence with a CBF reference. These are the following types of instructions:
Type AA | Text | Meaning |
01 | WP-UEBERTRAG/REPO-AUFTRAG (securities transfer/repo-order), AA01 B AA01 P external AA01 rights (whole and fractions, CONV) AA01 CUSTODY (CORP) | Securities transfer free of and against payment/repo-order against payment, in this case only Registered shares account transfer External registered shares account transfer Conversion of rights (whole and fractions) Transfers linked to a corporate action |
03 | SV-UEBERTRAG (SV TRANSFER) | BSV/LSV transfer |
16 | EINLIEFERUNG (Deposit) | Deposit |
18 | AUSLIEFERUNG (Withdrawal) | Withdrawal |
Further information
Please see the Clearstream website for more information about ClearstreamXact.
For further information, please contact the Clearstream Connectivity Helpdesk or your Relationship Manager.
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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.
2. Instructions sent via LIMA in ISO15022 format (Swift, MQ or File Transfer), CASCADE or Xact Web Portal.