Russia: Update - Russian Federation credit derivative public auction
Note: This announcement, originally published on 1 September 2022, has been updated following the death of Her Majesty Queen Elizabeth II. 19 September 2022 has been declared a public holiday in the UK and the DC Administration Services on behalf of the International Swaps and Derivatives Association Inc, has extended the public auction period to 23 September 2022 inclusive.
Consequently, the ICSDs, Clearstream Banking and Euroclear Bank, have jointly decided to extend the opening of the Bridge until 27 September 2022.
Clearstream Banking1 informs customers that DC Administration Services on behalf of the International Swaps and Derivatives Association, Inc will hold a public auction to settle Russian Federation credit derivative transactions during the period of 12 September to 23 September 2022 inclusive.
In order to facilitate an orderly settlement process and to ensure that the market functions normally, the ICSDs, Clearstream Banking and Euroclear Bank, have jointly decided to open the Bridge with effect from 8 September until 27 September 2022 inclusive to support the public auction for the following ISINs:
XS0971721450 | US78307ADG58 |
XS0088543193 | US78307AAE38 |
XS0114288789a | US78307ACZ49a |
XS0767473852 | US78307ADE01 |
XS0971721963 | US78307ADH32 |
a. ISINs XS0114288789 and US78307ACZ49 remained eligible on the Bridge. They are mentioned in this announcement as they are part of the Public Auction.
Customers electing to participate in the public auction are reminded to always ensure that their instructions comply with the terms of the relevant General Licence of the U.S. Treasury and any other applicable sanctions.
Further information
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.