Eurex Clearing
1. Introduction
The Governing Council of European Central Bank (ECB) announced on 20 October 2022 the rescheduling of the launch of the T2-T2S consolidation project.
The new go-live date is determined as 20 March 2023.
The main reason for the delay is to provide the necessary stable testing conditions to all market participants in order to ensure smooth migration.
Eurex Clearing notes that all the mandatory testing for margining, invoicing, and billing purposes between Eurex Clearing and Clearing Members has been successfully conducted. Nevertheless, Eurex Clearing will accommodate the testing opportunities for this purpose to all interested Members.
If the need for regression testing should arise due to new ECB requirements or unexpected critical changes in the infrastructure, Eurex Clearing will inform Members separately. Currently, no such requirement is foreseen.
Learn now more about the T2-T2S Consolidation on our dedicated initiative page under the following link: Support > Initiatives & Releases > Project Readiness > T2-T2S Consolidation. System documentation, circulars, timeline and much more information is available there for you.
2. Required action
Members are required to finalize the internal procedures and testing given the new go-live date and submit the Readiness Statement to Eurex Clearing by 10 February 2023.
For the already submitted Readiness Statements, there is no further required action in the light of this postponement given that all readiness steps are successfully completed.
3. Details of the initiative
For more information, please refer to the following link:
Eurosystem reschedules start of renewed wholesale payment system (europa.eu)
Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.
Further information
Recipients: | All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Related circular: | Eurex Clearing Circular 039/20 | |
Related Newsflashes: | Eurex Clearing Readiness Newsflash as of 30 May 2022; | |
Web: | Support > Initiatives & Releases > Project Readiness > T2-T2S Consolidation | |
Authorized by: | Jens Janka |
