INTERBOLSA has made available the “Partial Release” functionality with the implementation of the T2S Change Request 653 with Release 3.2, occurred on November 16, 2019.
This new functionality that introduces benefits in improving settlement efficiency, enabling fails reduction in accordance with the future CSDR settlement discipline regime, meets the following requirements:
- Available only for securities delivery instructions (DVP, DFP and DWP);
- For settlement instructions:
- matched and not canceled;
- pending with Party “Hold”;
- that permit partial settlement;
- which intended settlement date (ISD) has been reached.
In cases where the partial quantity released does not settle, during the day the partial release functionality was activated (until the end of the respective cut-off), the process will be automatically canceled by T2S, returning the instruction to its original status (Hold of initial quantity).
To properly accommodate this amendment, INTERBOLSA revised Article 46 of INTERBOLSA Regulation 2/2016 (amendment of paragraph 2 and addition of paragraph 4).
Supplementary documentation: Release 3.2 Briefing Paper