Argentina: Implementation of the new CSD in- house system
Clearstream Banking1 informs clients that effective
25 September 2023
Caja de Valores SA, Argentina's central securities depository (CSD) will change their in-house system.
Impact on clients
Caja de Valores have announced the schedule related to non-critical operations for the next days in order to ensure the correct migration to the new custody system using Nasdaq technology. Clients should consider the following limitations pursuant to the schedule established by Caja de Valores through Communication N°11651.
International securities transfers
Instructions to ICSDs that have not been settled by the close of real-time on Friday, 22 September 2023 will be cancelled. Therefore, Caja de Valores will cancel all pending unmatched and unsettled external settlement instructions at the end of their settlement cycle on Friday, 22 September 2023 and transfer instructions cannot have a settlement date after that day.
Clients will use the new custody system for transfers starting 25 September 2023
Local unsettled transfers, including the ones for CBL account at Caja (8500/4), will be cancelled at the end of day. Therefore, CBL clients may have to send new instructions:
- re-send any cancelled external settlement instructions as from the start of real-time processing on Monday, 25 September 2023
- for external settlement instructions with a future settlement date (25 September 2023 or after), please hold them until the start of our real-time processing on Monday, 25 September 2023
Please note that internal and Bridge settlement instructions are not impacted.
Further information
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.