New CSD platform Infinity launched by Euroclear Finland
The first release of the new CSD system ‘Infinity’ has been launched successfully into production as of 2 February 2015
Infinity replaces the previous fixed income system Ramses.
Major investment in the Finnish market infrastructure
Euroclear Finland is in the process of replacing its entire Central Securities Depository infrastructure. This first release replaced the fixed income system, Ramses. The second release scheduled for May 2016 will replace the current equity market systems, HEXClear and the Central register. After the second phase Euroclear Finland will have its entire core CSD systems fully rebuilt. The third release will connect the Finnish market to TARGET2-Securities in February 2017.
Yannic Weber, CEO of Euroclear Finland and Euroclear Sweden remarks: “Euroclear is making a very large multi-year investment to substantially improve the post-trade services in the Finnish market. Re-building the core CSD systems brings us one step closer to T2S that we will join in early 2017 as part of the fourth wave. This remarkable market infrastructure change is carried out in very close co-operation with our participants. Our objective is to offer much better services to accommodate the rapidly changing needs of all types of clients and seize new business opportunities. I want to warmly thank our staff, contractors, group colleagues and other stake holders for all the effort they have put in to achieve this tremendous success.”
Hanna Vainio, Deputy CEO of Euroclear Finland and Infinity Programme sponsor says: “Release 1 will make the Finnish fixed income market fully compliant with European standards. This will allow our clients to streamline their back-office processing which will significantly ease pan-European processing in the post market trade area. All corporate actions will follow the standards set by the Corporate Actions Joint Working Group. New services and functionality will become available such as market claims. As a result Euroclear Finland will have an enhanced service level to all its clients. In addition to a GUI will have both ISO 15022 and ISO 20022 message standards available and up-to-date services which with release 2 will become available also for the equity market.”
Anu Puttonen, T2S Product Manager from Euroclear Finland’s T2S project team: “ On behalf of the whole project management I want to thank everybody for their efforts and contribution. This has been an exciting journey and we are all happy that we have now reached this milestone. Release 2 is already ongoing – let’s keep up the good spirit! Operations is now using Infinity Release 1 while at the same time preparing for the Release 2. New people have also joined the project - welcome and enjoy the ride!”