CEO's greetings from Finland - Market readiness in focus
We are aiming for the new production launch date for Infinity Release 2 on 14 November, as agreed upon with the Market Advisory Committee on 28 June 2016.
Simultaneously, the Finnish market is also preparing itself for the new EU-wide legislation that will effect changes for the Central Securities Depository Regulation, CSDR.
“After a very busy spring, I am happy to say that we, as a market, have achieved a lot. Now, we are focusing on fixing the remaining issues after all functionalities have been delivered to the testing environment", says Hanna Vainio, CEO of Euroclear Finland.
We, as a CSD, are preparing ourselves for the 14 November 2016 production launch and will do our utmost to support the market participants during the Market Acceptance Test (MAT), which requires a lot of work and planning from our clients.
“Simultaneously, we have been working with the requirements relating to the new CSD regulation, and preparing for the application of the CSD authorisation. With our 3-phased Infinity programme, we will become fully CSDR compliant” says Vainio.
A big milestone for the Finnish market
“This second production launch of Infinity will bring a lot of changes to the way we and the back-offices operate and process equities. Infinity Release 2 will also impact the issuers, and we are currently preparing new procedures that will be in place for the corporate action season 2017”, lists Vainio.
New growth initiatives
After the summer period, we will focus more and more on future developments and continue to generate new growth initiatives. The upcoming regulatory changes in our industry, together with the new blockchain and digitalisation technologies, will fundamentally transform our businesses.
“We want to be an active market player and dialogue initiator for developing the post-trade and financial markets together with our clients. The megatrends and international changes will alter the current landscape and we want to be ready by keeping up an open and active dialogue about the world in 2020.”
“I want to thank you all for the hard work and wish you a sunny and relaxing summer”, concludes Vainio.
This article was originally published on the July 2016 issue of the newsletter entitled "Market readiness in focus".