Year-end processing and instruction deadlines 2024
Clearstream Fund Centre1 reminds clients of the impact of the year-end holidays on settlement and cash processing.
All times in this Announcement are Central European Time (CET).
Clearstream Fund Centre year-end processing
The night-time processing on 24 December 2024 for business day 26 December 2024 will be delayed and run on Wednesday 25 December at 21:00. End of Day Reports will be available at the usual time.
The night-time processing on 31 December 2024 for business day 2 January 2025 will be delayed and run on 1 January 2025 at 21:00. End of Day Reports will be available at the usual time.
Instruction timings for Clearstream Fund Centre clients
Clients should pay special attention to the following details related to securities instructions that contain a requested settlement date that is the same as a Clearstream Fund Centre non-business day.
For domestic and internal instructions, the usual rules and procedures shall apply.
For internal instructions:
Instructions received with a requested settlement date of 25 December 2024 or 1 January 2025 will not be processed for settlement until the next Clearstream Fund Centre business day, being 26 December 2024 or 2 January 2025, respectively.
Therefore, for all internal instructions, the debit and credit of cash will be given the value of 26 December 2024 or 2 January 2025, provided the instructions settle on those days.
For domestic instructions, the following special procedures will apply:
- The effective settlement date for instructions with a requested settlement date of 25 December 2024 or 1 January 2025 will be the first Clearstream Fund Centre business day following the Clearstream non-business day, being 26 December 2024 or 2 January 2025, respectively, under the condition that the instructions settle in the market with the requested settlement dates.
- For receipt instructions that settle on the market on 25 December 2024 or 1 January 2025, the cash countervalue of the trade will be debited with value 25 December 2024 or 1 January 2025, respectively. The debit of cash in Clearstream Fund Centre will be booked on 26 December 2024 or 2 January 2025, respectively.
- For delivery instructions that settle on the market on 25 December 2024 or 1 January 2025, the cash countervalue of the trade will be credited with value date 26 December 2024 or 2 January 2025, respectively. The credit of cash in Clearstream Fund Centre will be booked on 26 December 2024 or 2 January 2025 respectively.
Securities and cash instructions
Clients are reminded that any special processing holidays are shown in the Cash and Securities Holidays, which is updated as soon as information is made available.
In the below-mentioned markets exceptional deadlines or exceptional arrangements apply.
Canada
Changed deadlines on 24and 31 December 2024.
Clearstream Fund Centre deadlines are as follows:
Cash payments | VD 18:00 |
Settlement instructions against payment | VD 18:00 |
Settlement instructions free of payment | unchanged |
United Kingdom
Changed deadlines on 24 and 31 December 2024.
Clearstream Fund Centre deadlines are as follows:
Against payment – Securities deposited in Citibank UK | 16:00 |
Cash pre-advices and withdrawals of funds | 16:00 |
Important note for GBP cash deadlines on 31 December 2024
Instructions transmitted after the above-mentioned Clearstream Fund Centre deadline, but for the same requested settlement date, could still settle on the requested settlement date and therefore could affect client cash balances at close of business.
U.S.A.
Changed deadlines on 24and 31 December 2024.
Clearstream Fund Centre deadlines are as follows:
Cash payments | VD 18:00 CET |
Settlement instructions against payment | VD 18:00 CET |
Settlement instructions free of payment | unchanged |
Christmas Day 2024 and New Year's Day 2025
Clearstream Fund Centre will be closed on Christmas Day 2024 and New Year's Day 2025, both dates are falling on a Wednesday.
Business will be as usual on 26 December 2024 and on 2 January 2025.
Seasonal greetings
We would like to take this opportunity to wish all clients an enjoyable and peaceful end of year and a prosperous and happy 2025.
Further information
For further information please contact Clearstream Fund Centre Client Services or your Relationship Officer.
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1. Clearstream Fund Centre refers to Clearstream Fund Centre S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, registered at the commercial register in Luxembourg under number B 261691