Euroclear Finland’s Management Committee has made a GO decision on its migration to TARGET2 Securities settlement platform* on 11 September. The company has also delivered Final testing status report for the onboarding of Euroclear Finland (EFi) CSD in view of September 2023 migration to European Central Bank (ECB).
The report is provided to ECB PMG and OMG to give a recommendation to the CSD Steering Group and the ECB’s Market Infrastructure Board (MIB) for go-live.
The ECB working groups’ recommendation is expected by 25 August. The final approval by MIB will be given on 5 September once the pre-migration activities have successfully concluded.
We are delighted to inform that all Euroclear Finland’s participants have sent us their affirmation of readiness. The migration process has required great effort from all parties involved and we would like to take this opportunity to express our sincerest gratitude to everyone contributing to this transformation.
*) TARGET2-Securities (T2S) is a centralized settlement engine, run by European Central Bank (ECB). For detailed information please refer to the website of European Central Bank.
