Information on Enhancements on ClearstreamXact Reporting
Clearstream Banking AG1 informs clients about planned enhancements for ClearstreamXact.
Background
Following the successful harmonisation of processes, services and reporting for Asset Servicing, Clearstream Banking has begun to undertake efforts to achieve a similar level of harmonisation in the Settlement services area.
The aim is to align the service offering with T2S and Swift standards as well as a harmonisation between CBF and CBL to the extent possible.
Benefits for clients
CBF legacy clients can switch to ClearstreamXact and thereby benefit from:
- Single-source messaging for Settlement and Asset Servicing.
- One GUI for CBF and CBL activities (Xact Web Portal).
- Reduced impacts of changes affecting CBF and CBL (for example, Swift Release, T2S Release), as those only have to be applied once for both entities.
- Harmonised reporting between CBF and T2S.
Next steps
Client Reporting:
- Reporting enhancements will be delivered during 2025 and 2026; the detailed delivery scope and timeline are currently being defined.
- Clients will be informed in the regular CBF release announcements that provide detailed information about the respective changes.
- It is expected that the ClearstreamXact client reporting is fully upgraded by November 2026.
- After a period of coexistence (currently set to six months), the CBF legacy Settlement reporting will be decommissioned.
Client Migration:
- CBF clients can and are invited to migrate their CBF legacy reporting to ClearstreamXact at their earliest convenience
- Clearstream Banking will provide a Client Migration Guide during 2025, highlighting the differences between the CBF legacy and the ClearstreamXact reporting to support clients in their migration assessment.
Client instructions:
- In addition, client inbound communication (for example, instruction formats) shall be tackled to match the ClearstreamXact requirements.
- Clients will be informed about the timeline and the details of these changes in a timely manner and the Client Migration Guide will be updated accordingly.
Further information
For further information, please contact the Clearstream Connectivity Helpdesk or your Relationship Manager.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.