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System Updates for settlement Information

System Updates for settlement Information

Timing of settlement statuses will vary by market and by custodian/sub-custodian. In the mature markets such as ESES (Euroclear settlement of Euronext-zone Securities) updated matching/ settlement status are often provided via Swift in less than 5 minutes. For emerging markets information can be much less frequent. Sub-custodians will generally send settlement statuses via Swift in near real-time. Given the shorter settlement timeframes under T2S, and with the upcoming settlement timeframes under SFTR, this will be increasingly important. It should be recognised that the process and timings of status updates is often dependent upon custodial network, so timings may vary between counterparties. (IBP-121 AGREED IN 2017)


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