T2S User Testing and Migration DCA Holder view

Transcription

1 T2S User Testing and Migration DCA Holder view Information event for future DCA Holders: Euro liquidity management in view of T2S ECB, 16 December 2013 T2S Programme Office European Central Bank 1

2 T2S User Testing and Migration DCA Holder view Agenda 1 Declaration procedure for DCPs/DCA Holders 2 T2S User Testing 3 T2S Migration 2

3 T2S User Testing and Migration DCA Holder view Agenda 1 Declaration procedure for DCPs/DCA Holders 2 T2S User Testing 3 T2S Migration 3

4 Declaration procedure for DCA Holders Timing The institutions intending to become directly connected DCA holders should inform the Eurosystem (in a binding manner) at the latest: - for A2A mode, 1 year before the start of the Community testing stage of the respective migration wave with which they first time migrate to T2S - for U2A mode, 3 months before the start of the Community testing stage of the respective migration wave with which they first time migrate to T2S A2A mode U2A mode Wave 1 3 March December 2014 Wave 2 19 September June 2015 Wave 3 16 February November 2015 Wave 4 09 October July 2016 NCBs can define earlier deadlines towards its communities due to adaptation/operational aspects Declaration is the precondition for certification 4

5 T2S User Testing and Migration DCA Holder view Agenda 1 Declaration procedure for DCPs/DCA Holders 2 T2S User Testing 3 T2S Migration 5

6 T2S User Testing Introduction general principles The User Testing Subgroup (UTSG) prepares and monitors the execution of the T2S User Testing - A PMG substructure - UTSG members are CSDs, Central Banks and Eurosystem - CSD participants and payment banks are involved through observers and their relevant CSDs and Central Banks The CSDs and Central Banks are responsible for coordinating the User Testing preparation and execution of its community (ICP as well as DCPs) CSD participants and DCA Holders participate in the User Testing execution according to the testing plan of the relevant CSDs and Central Banks 6

7 T2S User Testing DCA Holder s mandatory testing stages Connectivity Bilateral Interoperability Multilateral Interoperability Community Business Day 7

8 T2S User Testing DCA Holder s mandatory testing stages 2-3 months before the start of the Community testing of the wave with which the DCA Holder will first time test T2S Connectivity DCP Validate the proper setup and configuration of all connectivity related aspects, to ensure that the actor s systems and T2S can communicate via A2A and/or U2A Community CSDs, CBs, communities Test the adaptation of participants internal systems to T2S and the updated systems of the CSDs/CBs upon involvement by the CSDs and CBs Business Day CSDs, CBs, communities Test the adaptation of participants internal systems to T2S based on the production schedule and similar to the day-to-day business 8

9 T2S User Testing DCA Holder s testing activities on T2S test environments Test Environment Usage Q Q Q Q Q Q Q Q Q Q Q Q Connectivity Set-up & Testing WAVE I Testing Community/Business Day Community WAVE 2 Testing Community/Business Day WAVE 3 Testing Community/Business Day/Stabilisation WAVE 4 Testing Community/Business Day/Stabilisation Pre-Prod Connectivity Set-up & Testing Pre-Production tests WAVE 2 Community - Cycle 2* 01 Aug 30 Sep Wave 1 Go-Live Wave 2 Go-Live Wave 3 Go-Live Wave 4 Go-Live * Phased-in connectivity set-up and connectivity testing for waves 2, 3 & 4 With Liquidity Transfer Utility (i.e. without T2CUST) 9

10 T2S User Testing DCA Holder s certification testing Objective: to provide evidence that an institution connecting to T2S via A2A or U2A can interact with T2S Scope: a limited number of predefined test cases to be executes as a technical sender of the messages - The maximum number of DCA Holder certification test cases is 6 - The tests that a DCA Holder shall execute will depend on the connectivity mode, the communication mode and the functionalities the DCA Holder will use in production Timing: during the Community testing stage of the first wave the DCA Holder would like to migrate to T2S Support: the Central Bank of the respective DCA Holder will support and communicate with the DCA Holder Issuance of certification: In case an institution executes certification testing as a DCA Holder, the respective Central Bank will issue the certificate; in case the institution executes certification testing also as a DCP participant, the T2S PO will issue the certificate covering both business areas 10

11 T2S User Testing DCA Holder s authorisation Objective: to verify whether the DCA Holder complies with the Central Bank s rules, procedures and requirements to go-live in T2S Scope: common set of authorisation test cases defined by the Eurosystem Central Banks Timing: during the Community testing stage of the respective Central Bank (exact timing to be defined by the Eurosystem Central Banks) Support: the Central Bank of the respective DCA Holder will support and communicate with the DCA Holder Issuance of authorisation: the Central Bank of the respective DCA Holder 11

12 T2S User Testing DCA Holders familiarisation phase The CSDs and Central Banks have decided that before the start of the Community testing stage of all waves, the waves perform - The Pre-Migration Dress Rehearsal followed by - The Migration Weekend Dress Rehearsal on the weekend preceding to the start of the Community testing stage of this wave and followed by - The communities testing with T2S based on the fine tuned static data configuration build up during the Migration Weekend Dress Rehearsal Some Central Banks plan to give certain rights and privileges to their DCA Holders to perform some tasks during the Pre-Migration Phase. Therefore, they have informed the UTSG that their DCA Holders may require a period before their participation in the Pre-Migration Dress Rehearsal in order to familiarise with T2S - The only dependency between a DCA Holder activity and the subsequent Central Bank activity is about setting up the secondary CMBs for client-collateralisation The UTSG will consider planning such DCA Holders familiarisation period once the DCA Holders confirm the need for such period and detail their requirements 12

13 T2S User Testing and Migration DCA Holder view Agenda 1 Declaration procedure for DCPs/DCA Holders 2 T2S User Testing 3 T2S Migration 13

14 T2S Migration Introduction general principles The Migration Subgroup (MSG) coordinates the preparation and the execution of the migration to T2S - A PMG substructure - MSG members are CSDs, Central Banks and Eurosystem - CSD participants and payment banks are involved through observers and their relevant CSDs and Central Banks The CSDs and Central Banks are responsible for coordinating the migration preparation and execution of its community (ICP as well as DCPs) CSD participants and DCA Holders participate in the migration execution according to the pre-migration schedule and migration weekend playbook applicable to the relevant CSDs and Central Banks 14

15 T2S Migration Pre-Migration phase - DCA Holder s involvement DCA Holder s static data is set-up during the Pre- Migration phase of each Migration wave Scope: - Access Rights: Users roles and privileges - Dedicated Cash Accounts and Credit Memorandum Balance: Liquidity Transfer Orders, Client collateralisation - Messaging and Reporting: Message subscription, Report configuration Practicality: the respective Central Bank will define which static data will be set-up centrally by the central bank and which static data will be set-up directly by the DCA Holder, as well as the timing for both activities 15

16 T2S Migration Migration weekend - DCA Holder s involvement DCA Holder can be involved in limited activities during the migration weekend - Maintain any remaining static data - Send CMS feeds to T2S (Securities prices, securities eligibility for collateralisation) and Reconcile - Initiate liquidity transfers (LTs) via T2 system - Reconcile settled LTs - Query T2S system Practicality: The extent of DCA Holders access to T2S may be defined by the respective Central Banks 16

17 Thank you for your attention 17