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Market testing starts in October

Market testing starts in October

We are now preparing for the upcoming fall when both the Market Testing and the Migration Rehearsals begin. The updated Service Description and the Migration Plan for Release 2 will be published in June. After the vacation period, 24 participants and a few IT vendors will start the testing with us in October. The testers will be trained before October so that they will know what the service is all about.

Account and customer information updates free of charge
The migration rehearsals will start in November. These are dress rehearsals where we practice the following items together with our participants: the migration of accounts, account holders, instruments, issuers, corporate actions and settlement instructions from the equity market system into Infinity. Before the first rehearsal all outdated data should already have been cleaned from the existing systems to enable a smooth automated migration.

- To promote this, the updates for accounts and customer information will be free of charge between July and September, Anu Puttonen, T2S Product Manager from Euroclear Finland, promotes.

The Account Managers’ impact
T2S and Infinity project has been high on the agenda for our Account Managers. The Account Managers team was established earlier this year and has received positive feedback from our clients.
- We wanted to enhance our co-operation with our participants. For that reason we established a new team, Account Managers, who will now be the eyes and ears of our clients. Of course the Infinity platform is essential for a CSD but more than that it is for our clients’ use and it is built for our clients, says Puttonen.

- Account Managers are working closely with our clients and our clients’ IT vendors and act as hub to our Infinity project. Their roles are also changing during the journey towards T2S starting from supporting in the business analysis phase and moving from the market testing to the actual migration. New regulations, and increased focus on different risk aspects, are just a couple to mention, account managers need to have a deep understanding both of our market and how our clients work, and also of the future model when we are in T2S. This is challenging of course, but it makes the work even more interesting. We have heard only positive feedback related to this new team and their job, concludes Puttonen.

Securities Maintaining Entity
Euroclear Finland will also join T2S as of Wave 1. We will start acting as a Securities Maintaining Entity responsible for making sure that the Finnish instruments that will be settled already now in T2S have the correct information in place. We will bring new instruments to T2S based on need and whenever Waves 2 and 3 are launched.

The original article was published on the marketing newsletter on 18 June 2015.

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