CASCADE: Instruction references – Reallocation of number ranges – Update
Note: This announcement, originally published on 10 December 2021, has been updated following Announcement D22011, where CBF informed that the deployment date for T2S Release 6.0 is postponed. Changes have been highlighted.
Clearstream Banking AG, Frankfurt1 informs customers about the future allocation of number ranges for CASCADE instruction references. The new ranges will be mandatorily effective on
4 July 2022
Background
Since the migration in February 2017, CBF supports the "Directly Connected Participant (DCP)" concept established by TARGET2-Securities (T2S). All instructions set up via this connectivity mode receive a reference assigned by CBF in CASCADE. In addition, Clearstream Banking uses the DCP mode for new services (for example, OneClearstream) to transmit settlement instructions to T2S. As part of CBF's maintenance activities, it was determined that the number range allocated in CASCADE for this purpose needs to be extended to be prepared for the future.
Further volumes are expected with the implementation of the Stock Exchange Transactions Go OTC project (SET-GO CSD Migration (Phase 2)) on 4 July 2022. The current referencing for LION transactions will be decommissioned. In the future, CASCADE instruction references will be assigned for instructions resulting from stock exchange trades.
Therefore, CBF will reallocate the number ranges for the setup of instructions via CASCADE as of 4 July 2022. The reallocation of numbers will ensure that the processing of stock exchange instructions can be established and carried out seamlessly in an OTC-like mode. The revision of number ranges was coordinated with Eurex Clearing AG (ECAG) and CBF customers.
New number ranges for CASCADE instruction references
Current allocation
The following table shows the previous allocation of number ranges:
CASCADE | Usage - Range is available for |
1 – 6,999,999 |
|
7,000,000 – 7,999,999 |
|
8,000.000 – 9,999,999 |
|
Future allocation
The following table shows the future allocation of the number ranges:
CASCADE | Usage - Range will be available for | |
1 – 4,999,999 |
| |
5,000,000 – 7,999,999 |
| CBF service Passive Matching. |
8,000,000 – 9,999,999 |
| |
Implementation approach
With the deployment of the release in July 2022, the new number ranges will be applied. In light of this, CBF requests customers acting in ICP mode and providing settlement instructions for the business day Monday, 4 July 2022, to already take the new number range into account from the evening of Friday, 1 July 2022, onwards.
With the release weekend, pending instructions with a reference from the previous number ranges will still be considered in the instruction management by CBF after implementation of the new allocation. There is no adjustment of already accepted instructions, that is, the CASCADE instruction remains unchanged in the system and is available for processing under this number. The modification of a pending instruction (for example, release, hold, change of priority or linking) using MT530 Transaction Processing Command is executed presenting the already accepted CASCADE instruction reference.
Customer impact
The new CASCADE number ranges will become mandatory as of 4 July 2022. Customers acting in ICP mode must take into account that the CASCADE instruction reference assigned by themselves or by a third party on their behalf will correspond to the new number range from 4 July 2022 at the latest. If a customer sets up a settlement instruction with an invalid number, the instruction will be rejected with one of the following error messages:
- “EA0008F Auftragsnummer muss kleiner als 5.000.000 sein // Instruction number has to be smaller than 5,000,000”
- “KV6000F and KV6001F Auftrags-Nummer muss kleiner als 5.000.000 sein // Instruction no. must be smaller than 5,000,000”
With the migration activities of the project SET-GO, CBF will create CASCADE settlement instructions with a number starting from 5,000,000. The CASCADE instruction references assigned by CBF must be able to be processed by customers in their systems as specified by the new assignment.
For the introduction of the CBF Release in July 2022, rollout activities for the CASCADE-PC version 10.2 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 July 2022. Starting from 4 July 2022, customers who log on with CASCADE-PC version 10.1 will receive the following error message:
- E00060: your currently installed program version is 10.1,
but you need version: 10.2. Terminate this application.
According to the latest “CBF Customer Readiness Plan”, the CASCADE-PC version will be available for download from the Clearstream website as of 10 June 2022.
Customer simulation
Customers have the option to both enter and modify instructions with references from the revised number range in the CBF customer simulation environment (IMS23). Customers can execute test cases on their demand. Within the guided customer simulation period, the test execution can be started on 30 May 2022.
Due to the change of the "T2S Recycling Period" in the T2S Pre-Production environment (UTEST) for the T2S Release 6.0 and the time for implementation of the new CBF software, pending instructions sent by customers before 26 April 2022 with an Intended Settlement Date (ISD) prior to 2 May 2022 are not expected to be available. This dependency should be considered when creating test cases.
Contact
Please contact your Relationship Officer if you have questions. Particular questions related to the new number ranges for CASCADE instructions references will be routed to and answered by the experts of the CBF Settlement Functionality 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.
2. Currently this number range is not in use.