Euroclear Finland starts Market Testing for T2S Release 1 in June
The T2S programme is well underway and progressing according to schedule in Euroclear Finland. The programme in Finland consists of three separate phases. Market testing represents a major milestone as it will be the first time that Euroclear’s new Infinity platform will be opened for customer access.
More than 80 people have already participated in the training provided by Euroclear Finland. The training received positive feedback from the participants and we’ll continue it in September. Finland will join T2S on February 2017.
Three release steps
The T2S programme will be released in three phases. Finnish debt market participants will be able to start their market testing in preparation for the first launch in early June:
- Release 1 will transition the debt market to a new T2S ready platform named Infinity and harmonise debt market processes towards T2S. This release will go live 3 November 2014.
- Release 2 will transition Finnish equities to Infinity and harmonise equity market practices with European standards. This release will go live Q4 2015.
- Release 3 will outsource settlement processing and integrate the Finnish market fully into the T2S Eurosystem.
Market Testing is an important step towards T2S
Market testing for Release 1 starts 9 June and will continue until 26 September. The purpose of Market testing is to enable customers to confirm that their own revised systems and processes have been adapted to function smoothly with the new Euroclear Finland Infinity platform.
Shortly after the launch of Release 1, the market testing service will reopen to allow clients who have chosen to implement STP messaging during the period between Release 1 and Release 2 to perform testing of their message-based automation.
Important dates for Release 1
- GUI testing starts on 9 June2014 and will be available until the end of the market testing period
- The message interface for market testing will be opened for our participants in July
- Participants should plan to complete their market testing by 26 September 2014