Public holiday regulation in 2019 for CASCADE and Creation
Clearstream Banking1 would like to draw the customer’s attention to the public holiday regulation for the CASCADE and Creation systems applicable to Germany (national) or for certain regions (R) in 2019. The table below lists the regulation for individual public holidays, but does not include public holidays that fall on a weekend.
The CASCADE holiday regulation is in line with the TARGET2-Securities (T2S) holiday calendar. On days on which T2S is open, CASCADE is open as well.
T2S is closed on the following holidays of the year for any type of securities and cash settlement:
- 1 January (New Year);
- 19 April (Good Friday);
- 22 April (Easter Monday);
- 25 December (Christmas Day);
- 26 December (Boxing Day).
In addition, T2S is closed for settlement against EUR on the following TARGET2 (T2) holiday but open for free of payment (FoP) settlement of securities:
- 1 May (Labour Day).
This day might also lead to custody-related security payments as this day can be defined as Record Date for custody. If the announced Record Date is a public holiday according to the T2 calendar, the previous business day will be processed as Record Date.
Payments in foreign currencies can settle via Clearstream’s Creation platform, depending on the closing days and public holiday regulation of the respective foreign currency.
Cross-border transactions against other domestic markets with closing days differing from the T2S holiday calendar will, as today, remain pending on those closing days until the next business day.
Public holiday | CASCADE | Creation |
Tuesday, 1 January 2019, New Year’s Day (national) | closed | closed |
Friday, 19 April 2019, Good Friday (national) | closed | open |
Monday, 22 April 2019, Easter Monday (national) | closed | open |
Wednesday, 1 May 2019, Labour Day (national) | open | open |
Thursday, 30 May 2019, Ascension Day (national) | open | open |
Monday, 10 June 2019, Whit Monday (national) | open | open |
Thursday, 20 June 2019, Corpus Christi (R) | open | open |
Thursday, 15 August 2019, Ascension Day (R) | open | open |
Thursday, 3 October 2019, German Reunification Day (national) | open | open |
Thursday, 31 October 2019, Reformation | open | open |
Friday, 1 November 2019, All Saints’ Day (R) | open | open |
Wednesday, 20 November 2019, Day of Prayer and Repentance (R) | open | open |
Tuesday, 24 December 2019, Christmas Eve (national) | open | open |
Wednesday, 25 December 2019, Christmas Day (national) | closed | closed |
Thursday, 26 December 2019, Boxing Day (national) | closed | open |
Tuesday, 31 December 2019, New Year’s Eve (national) | open | open |
Counter opening hours at CBF
On days that CASCADE is not open for business, the counters of CBF will also remain closed.
In addition, counters will remain closed on 1 May (Labour Day), 30 May (Ascension Day), 10 June (Whit Monday), 20 June (Corpus Christi), 3 October (German Reunification Day), 24 December (Christmas Eve) and 31 December (New Year’s Eve). Due to a regional public holiday on Tuesday, 5 March 2019, the counters will also be closed from 13:00.
Public holidays on which CASCADE is closed and Creation is open
Stock exchange trades in securities held in non-collective safe custody (NCSC securities) are not settled on these days. Stock exchange trades are forwarded to Creation on the eve of the public holiday with value date first business day after the public holiday. However, such stock exchange trades will be settled on the day after the public holiday and will be confirmed in the Settlement List or the Clearing & Settlement Statement in the afternoon.
Further information
Additional information regarding the settlement processing and feasible Corporate Action events as well as the eMISSION service on holidays in 2019 especially at Easter and 1 May will be published by the end of this year in separate announcements.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthaleralle 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.