Annex 2 Local Settlement timing.pdf - Global Market Information

France
Settlement
External settlement
Same-day turnaround possibilities
Internal (1) Bridge (2) Instruction
REC/DEL
Instruction
AP/FOP
Period (3)
External instructions
input deadline
Positioning window (4)
Expected timing for
matching results
Expected timing for
settlement results
Buy domestic/sell
Euroclear Bank
Buy Euroclear Buy domestic/
Bank/sell domestic sell domestic
Euroclear France (ESES)
Euroclear France-eligible securities Y Y REC/DEL AP/FOP All year 18:15 on S-1 (for inclusion in the ESES
overnight batch process)
From 18:00 to 18:15 on S-1
Continuous from 20:30 on S-1 to
16:00 on S, prematching possible
as from input
Continuous from 20:30 on S-1 to
16:00 on S
Y Y Y
Y Y REC/DEL AP/FOP All year 15:50 on S From the start of the real-time
process to 16:00 on S
Continuous from 20:30 on S-1 to
16:00 on S, prematching possible
as from input
Continuous from 20:30 on S-1 to
16:00 on S
Y Y Y
Y Y REC/DEL FOP All year 16:50 on S (5) From 16:00 to 17:00 on S Continuous from 20:30 on S-1 to
16:00 on S, prematching possible
as from input
Continuous from 20:30 on S-1 to
16:00 on S
Y Y Y
Euroclear France (International movements)
Euroclear France-eligible securities Y Y REC FOP All year No instruction is required to receive
securities free of payment
Positioning is not required for free
of payment receipt instructions
Continuous on S N N N
Y Y DEL FOP All year 11:00 on S From Start Real Time to 11:00
on S
Continuous on S N N N
Société Générale, Paris
Securities not held with Euroclear France
(ODM)
Y Y REC FOP All year No instruction is required to receive
securities free of payment
Positioning is not required for free
of payment receipt instructions
Continuous from S-1 to S Batch: 24:00 on S N N N
Y Y DEL FOP All year 15:00 on S • From 16:00 to 17:45 on S-1
• From the start of the real-time
process to 15:00 on S
Continuous from S-1 to S Batch: 24:00 on S N N N
(1)
(2)
(3)
(4)
(5)
The input deadlines for internal instructions are as follows:
- Batch process 22:00 on S-1 for SET1 (AP/FOP instructions) and 00:30 on S for SET2 (AP/FOP instructions)
- Automatic real-time process 15:30 on S (AP instructions in ARS, CAD, EUR, GBP, MXN, PEN, USD and UYU and FOP instructions)
- Automatic real-time process 14:00 on S (AP instructions in all other currencies)
- Optional real-time process 18:30 on S (AP and FOP instructions).
For more information on internal settlement, please refer to Services > Settlement > Settlement in commercial bank money > Internal
settlement on www.euroclearbank.com.
The input deadlines for Bridge instructions are as follows:
- Batch process 20:30 on S-1(AP/FOP instructions)
- Automatic real-time process 13:00 on S (AP/FOP instructions)
- Optional real-time process 15:00 on S (AP), 16:00 on S (FOP).
For more information on Bridge settlement, please refer to Services > Settlement > Settlement in commercial bank money > Bridge
settlement on www.euroclearbank.com.
Our input deadlines take into consideration daylight saving time only where it is effectively observed. This column indicates
when the input deadlines apply.
Positioning is possible before S when the domestic market:
- has an overnight batch process; or
- provides matching results before S.
Positioning windows before S are marked in italics.
Deadline of 16:50 on S for end-of-day instructions to settle in Euroclear Belgium, Euroclear France or Euroclear Nederland
between 16:00 and 17:00.