Clearstream Initiates OneClearstream Migration Activities For Monte Titoli

Post-trade services provider Clearstream has officially begun the OneClearstream migration for Italian Monte Titoli, which will include two days of system upgrades.

The company on Thursday released a timeline of the migration process, which is slated to be completed by March 24, at 18:00 GMT.

According to the company’s statement, the migration commenced earlier today at 09:00. As the process continues, scheduled for 14:00, the company will provide updates on its website, regarding which International Securities Identification Number (ISIN) have already been migrated, as well as those whose migration has been postponed.

Detailed timeline

Clearstream has also set the time, for when the comprehensive list of all migrated ISINs will be available to the public. The company says that on Friday, March 23, at 11:30, they will publish the full list directly on the Clearstream website.

One hour later at 12:30, the early cutoff time for the domestic Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term of the Italian market will officially be implemented. At this exact time, the company will also simultaneously launch the start of the cancellation period for any pending unmatched external settlement instructions.

The completion of the domestic Italian market cancellation period will take place one hour later, at 13:30. Clearstream will also begin the transfer of CBL positions at this time.

At 18:30 on Friday, March 23, Clearstream’s CBL positions transfer will come to a close, queued customer instruction will officially be released to the domestic market.

The company further explains that all times listed in the timeline are arbitrary, and are subject to change based on the performance of the migration process. In the event that all positions have not been successfully migrated in the T2S RTS processing by the end of Friday, the company will attempt to complete the migration process in the Network Time Protocol (NTP) processing value on the following Monday, March 26.

Migration complete by Saturday

However, as it currently stands, Clearstream is aiming to complete the migration process on Friday at 22:00, and barring any unforeseen incidents, the process should be conducted based on the timeline described above. Clearstream currently foresees the overall transfer activity to conclude on Saturday, March 24, at 18:00.

Clearstream continues to move forward in its efforts to develop new technological innovations for the financial industry. The company has been collaborating and creating partnerships with companies such as ColleX and Euroclear, to provide clients with the technology that will improve Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term capabilities in the financial trading space.