First year in T2S – shifting focus to an ambitious data vision

As T2S has become business as usual, core CSD system developments continue to remain in the pipeline to ensure 100 percent system uptime and settlement efficiency.

Market-wide benefits

One of the primary benefits of joining T2S has been the harmonisation of settlement processes across Europe. In practice, this means increased efficiency and reduced settlement times. Additionally, the integration has improved liquidity management and risk mitigation, providing a clear framework for securities transactions.

Collaboration and planning: Keys to Change

Joining T2S was a crucial step with which the renewal of  Euroclear Finland’s core Central Securities Depository systems was concluded. Years of planning, testing, and deploying new versions of software required significant effort from the entire market. However, this was not an IT programme but a full business transformation. Market participants had to adjust to new settlement cycles and business processes, necessitating extensive planning and coordination. Collaboration among all stakeholders was crucial in overcoming these initial steps.

Hanna Vainio, CEO of Euroclear Finland:

“All CSDs in the Nordic region are in the process of assessing the future of the Nordic CSD landscape . T2S is on everyone´s agenda. Technology is another, a huge enabler to drive further market efficiencies, such as exploring cloud opportunities for a CSDs core and value added services. Euroclear Finland plays an important role  in connecting issuers and their investors , offering nowadays an increased amount of new data related products and solutions to help different type of clients to with information about their shareholders, holdings, transactions and at the end supporting them in fulfilling various regulatory compliance related requirements.”

A stronger and more versatile financial hub

As Euroclear Finland continues to operate within the T2S framework, the successful migration and first year in production sets a precedent for future enhancements and innovations in the Finnish securities market. With the core CSD production performing well, Euroclear Finland has increased focus to a new product strategy driven by data products and co-innovation with clients and complemented by 3rd parties. Euroclear Finland is building a stronger, more versatile product offering for different stakeholders in the financial sector.

Euroclear Finland’s data vision is ambitious: to provide a wide range of data-enabled services for existing and new clients. This includes improving access to data, introducing new data sources, and providing data analysis and insights in easily accessible formats. For example, the first data-enabled services were launched before summer, offering scalable solutions to Issuers, Investment firms and 3rd party financial institutions.