Year-end processing and instruction deadlines 2024
Note: This Announcement, originally published on 5 December 2024 and updated on 16 December 2024 , has been updated to add information about Triparty Collateral Management. The changes have been highlighted.
Clearstream Banking1 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 Banking year-end processing
The night-time processing on 24 December 2024 (between Clearstream Banking and Euroclear Bank) 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 (between Clearstream Banking and Euroclear Bank) 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 Banking 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 Banking non-business day.
For domestic, internal and Bridge instructions, the usual rules and procedures shall apply.
For internal and Bridge 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 Banking business day, being 26 December 2024 or 2 January 2025, respectively.
Therefore, for all internal and Bridge 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 Banking 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 Banking 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 Banking 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.
Instructions transmitted after the below Clearstream Banking deadlines, 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.
The below-mentioned Clearstream Banking deadlines are valid provided that the clients’s instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market. Clients must also ensure that any necessary provision is available.
If any of these criteria are not met, Clearstream Banking cannot guarantee timely settlement.
Argentina
Changed Clearstream Banking deadlines on 24and 31 December 2024:
Cash payments | VD 18:00 CET |
Canada
Changed Clearstream Banking deadlines on 24and 31 December 2024:
Cash payments | VD 18:00 |
Settlement instructions against payment | VD 18:00 |
Settlement instructions free of payment | unchanged |
Mexico
Changed Clearstream Banking deadlines on 24and 31 December 2024.
Clearstream Banking deadlines are as follows:
Cash payments | VD 18:00 |
Settlement instructions against payment | VD 18:00 |
Settlement instructions free of payment | unchanged |
Poland
Early closure on 24 and 31 December 2024.
Clearstream Banking deadlines are as follows:
Cash payments below PLN 1 million | 09:45 |
Cash payments above PLN 1 million | 11:45 |
Settlement instructions against and free of payment | 10:45 |
United Kingdom
Changed deadlines on 24 and 31 December 2024.
Clearstream Banking deadlines are as follows:
Against payment – Securities deposited in Citibank UK | 16:00 |
Against payment – Gilts | 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 Banking 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.
For more details, please refer to Announcement A24089.
Uruguay
Changed Clearstream Banking deadlines on 24and 31 December 2024.
Clearstream Banking deadlines are as follows:
Cash payments | VD 18:00 CET |
U.S.A.
Changed Clearstream Banking deadlines on 24and 31 December 2024.
Clearstream Banking deadlines are as follows:
Cash payments | VD 18:00 CET |
Settlement instructions against payment | VD 18:00 CET |
Settlement instructions free of payment | unchanged |
Important note for Triparty Collateral Management
Please note that any Triparty Repo trade notification received for VD 24 and 31 December 2024 for currencies impacted by the above mentioned exceptional deadlines, must be received:
- 1 hour prior to the new cash deadline for contracts in auto-allocation mode
- 2 hours prior to the new cash deadline for contracts in manual mode
Any Repo trade received past cutoff will be rejected.
Christmas Day 2024 and New Year's Day 2025
Clearstream Banking 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 Banking Client Services or your 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 Mergenthalerallee 61, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500