Clearstream has just announced its August report. The highlights last month are:
– Successful TARGET2-Securities wave three migration
– Clearstream prepares for its migration in February 2017
After the successful third migration wave, TARGET2 Securities (T2S) is now gaining momentum, and Europe is one step closer to a harmonised settlement. With its own migration drawing near, Clearstream is making sure that it is in constant communication with its customers, and together with them is looking forward to its own smooth and successful migration in February 2017.
So far, Clearstream has organised three Migration Weekend Dress Rehearsals (MWDRs), together with SWIFT, the European Central Bank (ECB) and other wave 4 CSDs as well as National Central Banks. During these tests, all internal targets concerning performance, stability and data quality were fully achieved. The results of these tests therefore confirm Clearstream’s technical readiness for T2S.
Further MWDRs are scheduled this year for October (without active customer participation) and December (with active customer participation). In parallel to the MWDRs, a customer simulation period has been running from 25 July 2016, and will continue to operate until 11 November 2016. It will then re-launch in the New Year. The simulation environment allows customers to gather in-depth experience of how the new setup will work, allowing them to ensure that their own systems are prepared for T2S. Clearstream’s simulation environment provides its customers with full launch scope of all envisaged functionalities.
Otherwise there’s a slight drop in CSD and GSF numbers compared to July and YoY. See the details below: