ESES T2S testing update – Facts and figures on second successful migration rehearsal
As part of our preparations to safely migrate the ESES CSDs to the T2S platform, we conducted our second migration rehearsal exercise with clients this weekend, along with the related National Central Banks of Belgium, France and the Netherlands. This exercise was performed with a larger scope of functionalities available to clients, including the migration of corporate actions for the first time.
Overall, the rehearsal migration was completed successfully. While the exercise identified a number of minor areas to be addressed, the progress made since the first rehearsal reinforces our confidence that the ESES CSDs will be ready to migrate to the T2S platform in September 2016
We are now beginning a period of client testing, which is expected to continue until the Wave 3 launch in September 2016.
ESES facts and figures
- The migration process was completed three hours behind schedule, due to minor operational issues encountered during software preparation and additional time required to process the balance migration.
- 265,660 balances were migrated to the T2S platform, with a rejection rate of 0.46%.
- 17,278 pending instructions received from ESES clients before the exercise, were migrated to the T2S platform, with a rejection rate of 0.49%.
- All corporate actions were processed and settled successfully.
- 116 new instructions input by clients (DCP and ICP) were submitted for settlement in the last cycle of the T2S night-time settlement process.
- Reporting on balances and settlement was sent to all clients after the point of no return, as per the communicated schedule.
We have started our analysis on areas of improvement identified during the migration rehearsal, in preparation of a final rehearsal, scheduled for 2-3 July 2016, and the migration to the T2S production platform over the weekend of 10-11 September 2016.