CBF Release November 2021: Information on production launch – Update
Note: This announcement, originally published on 21 September 2021, has been updated to show the upgraded CASCADE PC screens.
Clearstream Banking AG, Frankfurt1 informs customers about the content of the November Release that will provide updated screens for CASCADE online functionality (HOST / PC). The modification will be effective on
Monday, 22 November 2022
In addition, this Announcement outlines further envisaged updates of the online functionality to be introduced in June 2022.
Background
With the go-live of the project Stock Exchange Instructions Go OTC (SET-GO), the securities settlement and related reporting of non-cleared stock exchange (SE) instructions will be changed. The project SET-GO will be introduced in two steps:
- ICSD Migration (Phase 1) on 22 November 2021; and
- CSD Migration (Phase 2) on 13 June 2022.
After the go-live of the respective phase, the SE processing will be executed in OTC-like mode.
With the Release in November 2021, the settlement and related reporting of SE instructions in non-collective safe custody (NCSC securities) will be offered via the CBL settlement platform (Creation). Therefore, relevant SE instructions will no longer be presented via the LION (Lieferfreigabe Online) functionality. As of 22 November 2021, a notice will be displayed on CASCADE-LION screens that details can be retrieved via Xact Web Portal.
Starting in June 2022, SE instructions details will be displayed via CASCADE for securities in collective safe custody (CSC) and T2S eligible non-collective safe custody (NCSC-T). These instructions are created using the CASCADE instruction type AA01 (Delivery) or AA02 (Receipt) with the KZ-AA “W”.
In anticipation of the deployment in June 2022, CBF will already update the Online Functionality (HOST / PC) with the November 2021 release. Within this new version of the Announcement the adapted CASCADE Host screens are shown, as well as the related CASCADE-PC screens.
Updated CASCADE-LION screens
On CASCADE-LION screens, customers will be informed that stock exchange instructions in custody type NCSC can only be retrieved via Xact Web Portal.
The text “Informationen zu AKV-Wertpapieren finden Sie im Xact Web Portal” will be displayed for the following LION Host transactions (TRAN):
- KVLS to block or release pending SE instructions;
- KVLA for the modification, deletion and reversal of a deletion for SE instructions;
- KVLI to display SE instructions; and
- KVAL allowing the linking of instructions.
Customers using the ISIN as selection criterion need to consider, that based on the existing LION selection process, data is displayed for this and subsequent ISINs in alphabetical order. That is, if an ISIN in custody type NCSC is entered, there might be no information given for this ISIN. However, LION may display data for further instruction(s) in custody type CSC and NCSC-T. In this case, it cannot be concluded that there is no pending SE instruction in NCSC.
Transaction KVLS – Börsengeschäfte „Settlement Dienst“
CASCADE-PC
Transaction KVLA – Börsengeschäfte „Änderung / Löschung“
CASCADE-PC
Transaction KVLI – Börsengeschäfte „Information“
CASCADE-PC
Transaction KVAL – Börsengeschäfte „Link - Dienst“
CASCADE-PC
Enhanced CASCADE Online functionality
A new field "Geschäftsart" will be displayed on various CASCADE screens for optional use from November 2021. In general, this field can be left blank, which is the default value. In addition, the following filter criteria are defined:
- BLANK = All instruction types being defined by “Auftragsart” and “KZ-AA”;
- O = OTC instructions only; and
- S = Non cleared stock exchange (SE) instructions only.
The selection criteria will be activated as following:
- BLANK = All instruction types will be presented, that is as of
- 22 November 2021 OTC instructions only, like today
- 13 June 2022 OTC and SE instructions processed in an OTC-like mode;
- O = CASCADE OTC instructions only available as of 22 November 2021; and
- S = Stock exchange (SE) instructions processed in an OTC-like mode effective on 13 June 2022.
The new selection criteria will be available for the CASCADE transaction “KVAI” (Auftragsabwicklung – Information – Auftragsstatus) for the following functions:
- “AA” to retrieve all instruction types (“Auftragsarten”);
- “AD” to list instructions which have a lack in securities or cash (“nicht erfolgreich disponierte Aufträge”);
- “MA” to show pending delivery instructions (“Match-Aufträge); and
- “MI” to show pending receipt instructions (“Match-Instruktionen).
Below the draft of the future instruction information screen:
CASCADE-PC
In addition, in the field “Geschäftsart”, customers can set one of the new filter criteria (“O” or “S”). In the following it is defined which results customers can expect:
Transaction KVAI – Function AA - Auftragsart
For the above-mentioned CASCADE function “AA”, the instruction type (“AUFTRAGSART”) is mandatory to be filled and can be further defined by using the field “Kennzeichen Auftragsart (KZ-AA)”.
For the CASCADE instruction type “01” (Delivery) or “02” (Receipt) the new field “Geschäftsart” can be filled as additional selection criterion.
AA | KZ-AA | Geschäftsart | Result - CASCADE shows | Effective on |
01 | Blank | Blank | All delivery instructions for all sub instruction types | 22 November 2021 OTC instructions only; 13 June 2022 |
01 | Blank | O | All OTC delivery instructions | 22 November 2021 OTC instructions only; 13 June 2022 |
01 | Blank | S | All SE delivery instructions | 13 June 2022 |
01 | W | Blank | All delivery instructions with sub instruction type W (OTC and SE instructions) | 22 November 2021 |
01 | W | O | All OTC delivery instructions with sub instruction type W | 22 November 2021 |
01 | W | S | All SE delivery instructions | 13 June 2022 |
02 | Blank | Blank | All receipt instructions for all sub instruction types | 22 November 2021 |
02 | Blank | O | All OTC receipt instructions | 22 November 2021 |
02 | Blank | S | All SE receipt instructions | 13 June 2022 |
02 | W | Blank | All receipt instructions with sub instructions type W (OTC and SE instructions) | 22 November 2021 |
02 | W | O | All OTC receipt instructions with sub instruction type W | 22 November 2021 |
02 | W | S | All SE receipt instructions | 13 June 2022 |
Transaction KVAI – Function AD – nicht erfolgreich disponierte Aufträge
Besides the mandatory entry of the “Auftragsart”, the Lastschrift-Bank (debitor) and / or the Gutschrift-Bank (creditor) can be filled. In addition, in the new field “Geschäftsart” a value can be entered to enrich the selection criteria.
Geschäftsart | Result - CASCADE shows | Effective on |
Blank | The pending delivery or receipt instructions for the selected debitor or / and creditor are displayed. | 22 November 2021 OTC instructions only; 13 June 2022 |
O | The pending OTC delivery or receipt instructions for the selected debitor or / and creditor are displayed. | 22 November 2021 |
S | The pending SE delivery or receipt instructions for the selected debitor or / and creditor are displayed. | 13 June 2022 |
Transaction KVAI – Function MA or MI – Match-Auftrag or Match-Instruktion
In order to retrieve information, it is mandatory to fill the Lastschrift-Bank (debitor) or the Gutschrift-Bank (creditor). Optionally, both fields can be filled.. The selection can be further defined by using a settlement status flag matched (“M”), open (offen; “O”) or incorrect (fehlerhaft, “F”). In addition, in the new field “Geschäftsart” a value can be entered to enrich the selection criteria.
Status flag | Function MA or MI | Geschäftsart | Result - CASCADE shows | Effective on |
M | MA | Blank | All pending matched delivery instructions will be displayed | 22 November 2021 OTC instructions only; |
M | MI | Blank | All pending matched receipt instructions will be displayed. | 22 November 2021 OTC instructions only; |
M | MA | O | Pending matched OTC delivery instructions will be displayed. | 22 November 2021 |
M | MI | O | Pending matched OTC receipt instructions will be displayed. | 22 November 2021 |
M | MA | S | Pending matched SE delivery instructions will be displayed. | 13 June 2022 |
M | MI | S | Pending matched SE receipt instructions will be displayed. | 13 June 2022 |
O | MA | Blank | All unmatched delivery instructions will be displayed. | 22 November 2021 OTC instructions only; |
O | MI | Blank | All unmatched receipt instructions will be displayed. | 22 November 2021 OTC instructions only; |
O | MA | O | Unmatched OTC delivery instructions will be displayed. | 22 November 2021 |
O | MI | O | Unmatched OTC receipt instructions will be displayed. | 22 November 2021 |
O | Not applicable | S | No result as SE instructions are always matched. | Not applicable |
F | MA | Blank | All delivery instructions marked with a CASCADE error code are displayed. | 22 November 2021 OTC instructions only; |
F | MI | Blank | All receipt instructions marked with a CASCADE error code are displayed. | 22 November 2021 OTC instructions only; |
F | MA | O | OTC delivery instructions marked with a CASCADE error code are displayed. | 22 November 2021 |
F | MI | O | OTC receipt instructions marked with a CASCADE error code are displayed. | 22 November 2021 |
F | MA | S | SE delivery instructions marked with a CASCADE error code are displayed. | 13 June 2022 |
F | MI | S | SE receipt instructions marked with a CASCADE error code are displayed. | 13 June 2022 |
Transaction KVAS – Settlement Dienst
The new selection critieria “Geschäftsart” will be also available for the CASCADE transaction “KVAS” (Auftragsabwicklung – Settlement Dienst – Auftragsstatus). It can be used for all existing functions. Below the draft of the future CASCADE screen:
CASCADE-PC
In the new field “Geschäftsart” a value can be entered as additional criteria in combination with the existing fields to define the selection.
Function | Geschäftsart | Result - CASCADE shows | Effective on |
IA | Blank | Pending delivery instructions will be displayed. | 22 November 2021 OTC instructions only; 13 June 2022 |
II | Blank | Pending receipt instructions will be displayed. | 22 November 2021 OTC instructions only; 13 June 2022 |
IA | O | Pending OTC delivery instructions will be displayed. | 22 November 2021 |
II | O | Pending OTC receipt instructions will be displayed. | 22 November 2021 |
IA | S | Pending SE delivery instructions will be displayed. | 13 June 2022 |
II | S | Pending SE receipt instructions will be displayed. | 13 June 2022 |
SA | Blank | Pending delivery instructions that can be set on “Party hold” will be displayed. | 22 November 2021 OTC instructions only; 13 June 2022 |
SI | Blank | Pending receipt instructions that can be set on “Party hold” will be displayed. | 22 November 2021 OTC instructions only; 13 June 2022 |
SA | O | Pending OTC delivery instructions that can be set on “Party hold” will be displayed. | 22 November 2021 |
SI | O | Pending OTC receipt instructions that can be set on “Party hold” will be displayed. | 22 November 2021 |
SA | S | Pending SE delivery instructions that can be set on “Party hold” will be displayed. | 13 June 2022 |
SI | S | Pending SE receipt instructions that can be set on “Party hold” will be displayed. | 13 June 2022 |
FA | Blank | All delivery instructions on “Party hold” can be displayed to release a single instruction. | 22 November 2021 OTC instructions only; 13 June 2022 |
FI | Blank | All receipt instructions on | 22 November 2021 OTC instructions only; 13 June 2022 |
FA | O | OTC delivery instructions on “Party hold” can be displayed to release a single instruction. | 22 November 2021 |
FI | O | OTC receipt instructions on “Party hold” can be displayed to release a single instruction. | 22 November 2021 |
FA | S | SE delivery instructions on “Party hold” can be displayed to release a single instruction. | 13 June 2022 |
FI | S | SE receipt instructions on | 13 June 2022 |
Transaction KVDU – Depotumsätze Inland
The new selection critieria “Geschäftsart” will be also available for the CASCADE transaction “KVDU” (Umsatzanzeige – Depotumsätze Inland - Auswahl). It can be used for the function “ID”. Below the draft of the future movements screen:
CASCADE-PC
In order to retrieve information, it is mandatory to fill the “Buchungstag” (accounting day), "Umsatzart" (debit, credit flag) and “Bank/Konto”. The selection can be further defined on customer demand. In the new field “Geschäftsart” a value can be entered to enrich the selection criteria.
As today, the field “Börsenplatz” (stock exchange location) will be available. Using the Market Identifier Code (MIC for exchanges, trading platforms, regulated or non-regulated markets as defined in ISO Standard 10383) the display of movements can be restricted.
The following table defines the results using the field “Kennzeichen Auftragsart (KZ-AA)” filled with “W” in combination with the new field “Geschäftsart”.
KZ-AA | Geschäftsart | Result - CASCADE shows | Effective on |
Blank | Blank | All instructions for all sub instruction types | 22 November 2021 OTC instructions only; 13 June 2022 |
Blank | O | Settled OTC instructions | 22 November 2021 |
Blank | S | Settled SE instructions | 13 June 2022 |
W | Blank | Settled instructions with sub instruction type W | 22 November 2021 |
W | O | All settled OTC instructions with sub instruction type W | 22 November 2021 |
W | S | All settled SE instructions | 13 June 2022 |
CASCADE-PC Upgrade
For the introduction of the CBF Release in November 2021, rollout activities for the CASCADE-PC version 10.1 need to be taken into account. A mandatory software update has been scheduled, that is, all earlier versions of CASCADE-PC cannot be used after the successful deployment of the CBF Release in November 2021. Starting from 22 November 2021, customers who log on with CASCADE-PC version 10.0 will receive the following error message:
- E00060: your currently installed program version is 10.0, but you need version: 10.1. Terminate this application.
According to the “CBF Customer Readiness Plan”, the CASCADE-PC version 10.1 will be available for download from the Clearstream website as of 29 October 2021.
Customer simulation
The simulation activities will be conducted in a “free simulation mode”. The already established static data for CBF accounts and the related connectivity settings in the CBF customer simulation environment (IMS23) remain unchanged.
CBF will maintain its link to the T2S Pre-Production environment (UTEST) so that customers can test on their demand. According to the ECB planning, the updated software for the T2S Release 5.2 was installed on Friday, 24 September 2021 in the T2S Pre-Production Environment (UTEST).
As of 22 September 2021, CBF started to update its software in IMS23 and hasclosed the simulation environment until Thursday, 22 October 2021. After that, IMS23 will be available for testing. A dedicated webpage provides information on the availability of the CBF customer simulation environment (IMS23).
Customers are invited to execute regression tests in the time frame 25 October to 17 November 2021. Moreover, for the introduction SET-GO Migration Phase 1 (ICSD) on 22 November 2021, dedicated simulation activities are scheduled. For more details please refer to the Stock Exchange Transactions Go OTC Customer Simulation Guideline.
Contact
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer. Particular questions related to this Release Information will be routed to the experts of the SET-GO Customer Readiness team.
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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.