Thursday December 17 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: International
Link: http://www.iberclear.es/docs/docsSubidos/Migration_T2S.pdf
In their meeting of 10 December the CSD Steering Group discussed the outcome of the technical assessment of solutions for the delayed migration of Euroclear ESES CSDs to T2S. An agreement was reached on a migration plan that would allow Euroclear ESES CSDs to migrate on 12 September 2016 together with VP Lux and VP Securities, while Clearstream Banking AG, the Baltic CSDs, CDCP, KDD, KELER, LuxCSD and OeKB CSD would migrate on 6 February 2017.
The final wave, comprised of Iberclear and Euroclear Finland, would migrate to T2S on 18 September 2017.
NBB-SSS and Interbolsa are maintaining their original plan to migrate on 28 March 2016.
The new migration plan will be complemented by further mitigating actions that will aim to avoid the further delay of any CSD and to reduce the impact of such a delay on other CSDs. The discussions on this issue will be concluded in February 2016 when, a decision will be taken by the Governing Council on the new migration plan.
Click on the link above for further details.