New Zealand: Improved settlement deadlines
Clearstream Banking1 informs clients that effective
immediately
and in line with our ongoing commitment to the enhancement of our settlement services, the client deadlines for New Zealand – Receipt and Delivery Free of Payment will be improved as follows:
Note: All times in this announcement are CET unless otherwise stated.
Instruction | Current deadline | New deadline | |
NZCSD eligible securities | |||
Receipts | FOP | 03:55 SD | 06:25 SD |
Deliveries | |||
The deadlines shown above are valid provided that your instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market.
Clients are also reminded that they must ensure that any necessary provision is available and that the counterparty’s instruction is in place.
If either of these criteria is not met, Clearstream Banking cannot guarantee timely settlement.
Further information
The Market Link Guide - New Zealand and the Settlement Timings Matrix have been updated.
For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.