Clearstream Bank AG has announced planning for Clearstreamxact, with the aim of increasing their confrontation and simplification of their settlement services.
Clearstream explained that the initiative follows successful efforts to unify operations and report asset service.
The primary goal of these improvements is to align Clearstream with T2S standards and fast standards, with more coordination between CBF and CBL.
This is expected to allow CBF Legacy customers to move to Clearstreamxact and take advantage of many improvements.
The main advantages of customers with a single source of settlement and asset service service, a unified graphic user interface (GuI) for both CBF and CBL activities via the XACT web portal, and reduced effects of changes that affect both entities, such as Swift and T2S versions.
Moreover, it is expected to coordinate improvements reports between CBF and T2S.
Clearstream expects improvements in reports during the years 2025 and 2026, with a complete upgrade from Clearstreamxact customer reports expected by November 2026.
After the coexistence period for six months, the report will be turned off from the old CBF settlement. Clearstream encouraged customers to deport their old reports to Clearstreamxact as soon as possible.