Frequently Asked Questions

How should I format my instructions?

Clearstream only accepts formatted instructions that follow the ISO 15022 standards.

Details on the different formats for delivery/receipt against payment/free of payment can be found in SWIFT User Guide.

How can I instruct to settle with a counterparty in a local market?

Each local market has its own specificities for the formatting of instructions. The details for each market are in the Creation Links Guides which can be found in the Creation Market Guide ( Publications & Downloads).

How can I see the status of an instruction?

Information on the status of instructions is provided in reporting as an MT548 Settlement Status and Processing Advice and/or MT537 Statement of Pending Transactions.

You can also check the status of an instruction on CreationOnline by using the Securities OTC Post Release query.

How can I find out why an instruction was rejected?

When an instruction is rejected by Clearstream the reason for rejection is reported on the MT548 message and/or MT537 report.

All status and reason codes are detailed in the Appendix B of the SWIFT User Guide. If you are using the CreationOnline Securities OTC Post Release query, the reason-narrative details are available in the detailed view of the instruction.

How does Clearstream inform customers of settled instructions?

Customers are informed of settlement via reports and online queries on CreationOnline.

Customers can request to receive MT54x Confirmations and/or MT536 Statements of Transactions either by managing their subscription to Clearstream’s Reports and Notifications via CreationOnline or by contacting their Customer Services officer.

CreationOnline users can use a Securities / OTC Post Release query for settled transactions.

What are the input deadlines for settlement instructions?

The input deadlines for settlement instructions are available in the Settlement Timings Matrix which contains all settlement deadlines for internal, bridge and domestic transactions.

How can I check a security balance?

Security Balances are reported to customers in the MT535 Statement of Holdings.

CreationOnline users can also obtain information on current positions by using the real-time “Securities Balances” query functionality.

What do Mandatory Settlement Period (MSP) and Optional Settlement Period (OSP) mean?

Clearstream’s processing day for Internal and Bridge instructions is divided into the Mandatory Settlement Period and the Optional Settlement period. In the Mandatory settlement period all eligible instructions will be automatically presented for settlement.

In order for an instruction to be presented for settlement in the Optional Settlement Period both parties have to agree and both instructions have to be flagged as eligible for Optional Settlement.

Can back-to-back instructions be settled on the local markets?

In order to ensure that same day turnaround can be achieved for a related purchase and sale in the same security on a domestic market, Clearstream offers a “Domestic Back to Back” service. This service is similar to a linked transactions service whereby the delivery will only be presented for settlement after the settlement of the associated receipt instruction.

Information on the settlement possibilities for back-to-back instructions on the different local markets is available in the respective Creation Links Guides which can be found in the Creation Market Guide ( Publications & Downloads).

How should I format a cross-border instruction?

Some securities are multi-listed (listed on several stock exchanges) which means that they may be traded and settled in several markets.

In order to see the markets on which these securities can be traded and the instruction formats to be used for each market, please refer to the Multi-Market Securities Guide.

How can I cancel a settlement instruction?

You can cancel a settlement instruction by sending the original instruction again but with the message function changed to reflect that it is the Cancellation of an existing instruction rather than a New Instruction.

Using CreationOnline you can cancel an outstanding instruction simply by issuing a Request Cancellation instruction.

What is an alleged instruction?

An allegement is an instruction presented by a counterparty against an account for which no exactly matching instruction can be found. Upon receipt of the allegement from one of the above domestic markets, Clearstream Banking will search for the best matching customer instruction candidate.

If the allegement potentially matches with a customer instruction, up to eight unmatched reason codes (one primary plus a maximum of seven secondary), detailing the differences with the alleged instruction will be reported. SWIFT and CreationDirect users will receive the information via MT 548 Settlement Status and Processing Advice and/or MT 537 Statement of Pending Transactions. CreationOnline users can view the same information by using the OTC Post Release detail view.

If no matching customer instruction is found, the allegement will be reported to the customer provided that its Clearstream account number is present.

Is it possible to apply Buy-In rules?

Clearstream will apply the buy-in rules that are in force in each local market. All related information can be found in the related Market Profiles in the Market Guide.

Are all Clearstream Banking securities eligible for Bridge transactions?

Some securities eligible in Clearstream cannot be settled across the Bridge that links customers with accounts in Clearstream with counterparties in Euroclear Bank. Information as to whether or not a security is Bridge eligible is available in the Securities Database in Codelist. CreationOnline users can also find this information within the online Reference Data.

Where can I find the account number of my counterparty?

All Clearstream listed account numbers and those of already listed counterparts within other CSDs and ICSDs are available in the Customer Listings area of this website. CreationOnline users can also obtain this information using a query in the Online Reference Data.

Where can I find information on the minimum and other denominations of an instrument?

This information is available in the Securities Database in Codelist. CreationOnline users can also query the online Reference Data. Should the Minimum Trade Amount field be empty it means that the minimum denomination is equal to the multiple trade denomination.

Where is the list of instruments subjected to back valuation?

The list of the securities with closing date today and subject to back valuation is published four times a day in the Back Valuation area.

CreationOnline users can also make a query on the requested ISIN code under Reference Data to verify if a back valuation will be applied or not.

How can I change the reports that I receive from Clearstream?

Using CreationOnline Administrator users and Business Supervisors can add, modify or cancel scheduled reports for whatever communication channel is used.

An MT599 free message can also be sent to Clearstream which will apply the changes in the set up of the customer’s account.

All requests sent prior to 18.00 (Central European Time) will be effective on the next day.

How can I request the creation of an ISIN code?

Customers can send a SWIFT MT599 free message for the attention of the New Issues department or use the Message Exchange functionality in CreationOnline, where they can directly select New Issues as Business Process.

The request will arrive at the appropriate New Issues department which will open the ISIN code upon receipt of the official documentation (offer circular, terms and conditions, prospectus etc).

To expedite the processing of the request please provide as much information as possible on the security to be accepted.

Who should I contact if I have further questions?

If you have any further questions, please call your Customer Services Officer who will be pleased to help you. If you are unsure who your Customer Services Officer is, please consult the Customer Support area of this website where you will find the contact details for our Customer Services departments worldwide.