In the ECC Clearing Circular 23/2018 (published on 11 June 2018), ECC advised of planned changes to its foreign currency settlement process.
In the first update to this correspondence (Clearing Circular 34/2018 on 10 August 2018) ECC advised of its intentions to go-live as per 08. November 2018.
In this update ECC wishes to inform members that due to incomplete technical readiness of the connected CMs and their correspondent banks we have decided to offer a transition phase for those involved in the migration of their FX settlement from Clearstream Banking to the Correspondent Bank infrastructure until 31st March 2019.