Indonesia: Implementation of T+2 settlement cycle
Clearstream Banking1 advises customers that, effective
26 November 2018
the Indonesian settlement cycle for all listed securities (scripless) trades will shorten from T+3 to T+2.
The change of settlement cycle has been a market-wide initiative spearheaded by the Self- Regulatory Organisations (SROs) made up of the Indonesia Stock Exchange (IDX), Indonesian central securities depository (PT Kustodian Sentral Efek Indonesia – KSEI), Indonesian clearing house (PT Kliring Penjaminan Efek Indonesia – KPEI). The shortened settlement cycle is expected to reduce settlement risks in the market.
Trading and settlement
The implementation date of the new settlement cycle in the Indonesian market is as follows:
Trade Date | Trade Day | Settlement Date | Settlement Day | |
Last T+3 trading day | 23 November 2018 | Friday | 28 November 2018 | Wednesday |
First T+2 trading day | 26 November 2018 | Monday | 28 November 2018 | Wednesday |
Corporate actions
Corporate action ex-period under the new settlement cycle is as follows:
Under T+3 (existing) | Under T+2 (new) | Effective date for new ex-period under T+2 | |
Record date = Book closing date | Ex-date+2 | Ex-date+1 | 26 November 2018 |
Impact on customers
Customers are requested to take note of the changes and to send timely settlement instructions to Clearstream Banking to avoid settlement delays.
Note: Settlement, cash, funding and foreign exchange deadlines will be unaffected by these changes.
Further information
The Market Link Guide – Indonesia will be updated accordingly.
For further information, customers 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 customers 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. (CBL).