10/12/2021 | Press release | Distributed by Public on 10/12/2021 06:03
Following Announcement A21040, Clearstream Banking1 is pleased to announce that effective settlement date
29 November 2021
Citibank Europe PLC, Dublin, will become operator of Clearstream Banking's Nominee account at the Finnish Central Securities Depository, Euroclear Finland, and replace current operator Nordea Bank Abp who has decided to exit the sub-custody business.
Customers of Clearstream Banking are requested to take note of the new custodian details as follows and to update their records and advise their counterparties accordingly:
Euroclear Finland Ltd
Citibank Europe PLC
1 North Wall Quay
Depository Code: 5F
BIC address: CITIIE2XFIN
Instruction specifications for Xact via SWIFT, Xact File Transfer remain unchanged.
Settlement deadlines for receipts and deliveries instructions against payment that are eligible for straight-through-processing will be improved by 10 minutes (from 15:35 CET to 15:45 CET). Other deadlines remain unchanged.
Disclosure requirements remain unchanged.
In order to reduce the number of matched instructions at the time of migration to a minimum, Clearstream Banking will suspend the instruction pre-matching service one week before the migration weekend on the evening of Friday 19 November 2021.
The re-activation of the instruction pre-matching service is scheduled on the evening of Friday, 26 November 2021. Customers should be aware that domestic settlement instructions sent for pre-matching purposes only (with field :23G::PREA) will not be forwarded to Nordea while the instruction pre-matching service is suspended.
The Immediate Release Flag service, which triggers immediate provisioning and submission of the instruction to the domestic market, will not be available as well.
The Market Link Guide - Finland and the Cash Timing Matrix will be updated accordingly and available on the effective date to reflect the changes.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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.