INTERNATIONAL: Clearstream Changes Settlement Account Details for Bearer Certificates Applicable to Ireland and UK ETFs

Thursday May 17 2018

Clearstream has announced that it will change the Participant ID used in the EUI Crest settlement system for the exchange and re-exchange of global bearer certificates (GBC) for UK and Irish Exchange Traded Funds ETFs effective.

Due to this development it has advised that Customers and counter-parties:

• make arrangements on pending and future settlement transactions by close of business 25^th  May 2018; and
• amend the delivering and receiving party in their exchange and re-exchange settlement instructions for the UK and Irish markets as indicated below.

Clearstream has stated that after the close of Business on 25^th May, Pending customer external settlement instructions and pending unmatched realignments will be cancelled following the change of static data in the securities database. Therefore Customers should re-instruct accordingly.

The new Participant CREST IDs will be used by  counterparties to deliver in the UK or Irish market from settlement date Monday, 28^th  May 2018.

For additional information please click the link above.