Clearstream Banking AG has informed its clients about planned enhancements for ClearstreamXact.

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.

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.

Reporting enhancements will be delivered during 2025 and 2026; the detailed delivery scope and timeline are currently being defined.

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.

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.

In addition, client inbound communication (for example, instruction formats) will be tackled to match the ClearstreamXact requirements.