Time
Description
07:30 a.m.Queued settlement replies (incl. results from NTS) are processed after SOD in BCS
08:00 a.m.1st reporting schedule on open & settled positions (SWIFT and BCS Web Client)
09:00 a.m.Buy-In Announcement for open deliveries (ISD+5/ISD+8) until 12:00 p.m. 
until 10:00 a.m.Check fulfilment of margin requirements from previous settlement day (IMFF Yesterday)
11:00 a.m.Start 1st Intraday Margin calculation (IM01)
11:00 a.m.

2nd reporting schedule on margin, collateral, open & settled positions 
(SWIFT and BCS Web Client)

11:15 a.m.Release of collateral on request (> 1 Mio. EUR)
until 01:30 p.m.Check fulfilment of margin requirements from IM01
02:30 p.m.Start 2nd Intraday Margin calculation (IM02)
02:30 p.m.3rd reporting schedule on margin, collateral, open & settled positions 
(SWIFT and BCS Web Client)
02:45 p.m.Release of collateral on request
04:00 p.m.DvP cut-off
04:00 p.m.4th reporting schedule on open & settled positions (SWIFT and BCS Web Client)
until 05:00 p.m.Check fulfilment of margin requirements from IM02
05:00 p.m.Settlement instructions for Nighttime Settlement (NTS) are sent to CSD/T2S
06:30 p.m.EOD Margin Calculation (IMFF)
06:30 p.m.5th reporting schedule on open positions, settled positions &
EOD gross trade statements (SWIFT and BCS Web Client)
08:00 p.m.Start of Nighttime Settlement (NTS) in T2S
08:30 p.m.BCS EOD processing