Settlement Cycles

Incoming delivery instructions in CASCADE for Collective Safe Custody securities are processed in different processing (arrangement) and settlement cycles. CASCADE offers both night-time processing (STD) and also daytime cycles (SDS1 and SDS2) for both cash and securities settlement.

In each of these cycles, delivery instructions are settled either through batch processing (Batch) or through continuous settlement (Cont). Furthermore, Clearstream's customers are offered to participate in real-time settlement (RTS) where securities transactions are settled free of or against payment.

Full information on the Settlement Cycles processed on CASCADE can be found in the CBF Customer Handbook.

Information on the settlement processes for International securities held on the Creation platform can be found in the CBL Customer Handbook.