From Euroclear Finland’s point of view the most successful period has been this spring - over 100 days without any major incidents. During 2021 the service availability has been close to 100% and settlement efficiency as high as 98,15%.
Infinity is amongst the most advanced CSD systems in Europe, supporting both nominee and direct holding account structures and different business models of our clients. It is fully CSDR and SRD II compliant, offers corporate actions processing according to European standards and supports both ISO 20022 and ISO 15022 standardized messaging.
While Finland migrates to TARGET2-Securities (T2S) in September 2023, Infinity has since its launch been harmonized to T2S, including settlement processing and settlement finality. This facilitates our existing clients’ journey towards T2S and also makes it easy for a new participant to join Euroclear Finland.
Anu Puttonen, Chief Business Officer from Euroclear Finland says:
“After the launch of Infinity in 2018, we created a roadmap which included the enhancements in production stability for the new system, regulatory compliance requirements and the migration to T2S. The careful planning and rigorous programme management has now paid off with the very good production stability and the major launches for CSDR and SRD II functionality. This would not have been possible without the support from our participants during these years.
Safe and resilient marketplace
"Our settlement runs continuously throughout the settlement day during all TARGET2 days. The market participants can benefit from the modern features, our message interface is already fully compliant with European harmonisation and T2S requirements safeguarding our participants and their clients from additional changes on our way to T2S and the new Eurosystem Collateral Management System ECMS. We are now looking into how to service also the T2S Directly Connected Participant (DCP) clients and how to continue developing our infrastructure once we are on T2S", concludes Puttonen.