Note: This announcement, 1 December 2023, was updated to provide clients with further information on the SCoRE Standards implementation.
Further to Announcements C23011 and C23027, Clearstream Banking1 informs its clients on an update to the implementation of the AMI-SeCo Single Collateral Management Rulebook for Europe (SCoRE) Standards and Eurosystem Collateral Management System (ECMS).
The Governing Council of the European Central Bank (ECB) decided to postpone the launch date of the ECMS from 8 April 2024 to 18 November 2024.
Clients can find further information on the ECB website.
Regarding the implementation of SCoRE Standards and related impacts on clients:
Corporate Actions: Clearstream Banking will communicate with ECMS in ISO 20022 format. Regarding communication between Clearstream Banking and its clients, enhancements to existing messages in ISO 15022 format will be implemented as originally planned on 8 April 2024, while communication between Clearstream Banking and its clients in ISO 20022 format will be made available from 18 November 2024, in line with the ECMS go-live date. Clearstream Banking will continue to support communication with clients in ISO 150022 format in coexistence with ISO 20022 format after the ECMS go-live date until further notice.
Triparty Collateral Management: Clearstream Banking will communicate with ECMS in ISO 20022 format. Following client consultation, communication between Clearstream Banking and its clients will remain in ISO 15022 format after the ECMS go-live date of 18 November 2024.
These changes resulted in a review and re-planning of the Clearstream Banking delivery timeline, which is expected to be completed by the end of December 2023. Clearstream Banking will provide more details of impact on clients at that time.
Further details on the SCoRE implementation date will be communicated in due course.
Further information
For further information please contact ECMS.programme@clearstream.com, Clearstream Banking Client Services or your Relationship Manager.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
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