Ireland: Opening of a direct link to Euroclear Bank and OneClearstream service activation - Update

Note: This announcement, originally published on 6 August 2024 and updated on 29 August 2024, has been further updated to postpone the Ireland migration to 25 November 2024 following the ECB's decision to postpone ECMS. Changes have been highlighted. Clearstream Banking1 informs clients that effective 25 November 2024 activation of a new Clearstream Banking S.A. (CBL) direct link to Euroclear Bank (EB), the issuer CSD of the Irish securities, will take place. With the new direct link, the OneClearstream service will be activated for Irish securities issued by Euroclear Bank and therefore those securities will be eligible in Clearstream Banking AG (CBF). Irish ISINs issued by Euroclear Bank will become eligible for settlement in CBF-T2S with the Non-Collective Safe Custody (NCSC-T) status. Important note: There are some Irish securities that are issued in the CREST system of Euroclear UK and International, that did not migrate to Euroclear Bank. Those ISINs are not part of the migration and will remain on the existing indirect link via Citibank N.A., London Branch. The list of the impacted ISINs will be published in due time. For the avoidance of doubt, direct settlement with domestic counterparties in Euroclear Bank will not be possible for CBF and LuxCSD. Clients will need to transfer the securities from CBF to CBL and vice versa. The Irish Realignment Guide will be updated with the migration. Clients are reminded that the description of the future OneClearstream Investor-CSD service can be found on the OneClearstream page published on the website. Scope of securities eligible for the OneClearstream service A list of the impacted ISINs is attached below. Clients should note that the list is subject to potential changes. In the event of any amendments, the definitive list of ISINs will be published on Wednesday, 20 November 2024. Impact on clients Information about the specific client migration impact will be made available in due time via follow-up announcements. Impact on stock exchange transactions Clearstream Banking will change the custody type (Verwahrart) for the impacted securities from non-collective safe custody (NCSC/AKV) to non-collective safe custody settled via T2S (NCSC-T) on Thursday, 21 November 2024, after close of business. These changes will be reflected in the master data file (Gattungsdatei, GAT) distributed by Wertpapier-Mitteilungen (German gazette with securities announcements) on Thursday evening. As a consequence, the entire community including trading venues and clients shall be aligned on the new custody type NCSC-T by Friday, 22 November 2024, in the morning. Clients must transfer the required provisioning from CBL to CBF for instructions with intended settlement date Tuesday, 26 November 2024. Further information For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer. ------------------------------ 1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.