T2S Info Session 05-DEC-2014 Clearstream Banking TARGET2-Securities Clearstream Customer Readiness 05 December 2014
T2S Info Session 05-DEC-2014 Agenda T2S Clearstream Customer Readiness Customer Involvement and Information Channels Getting Ready for Wave 1 and Wave 3 2 09 December 2014
T2S Info Session 05-DEC-2014 T2S Clearstream Customer Readiness Our Mission for customer readiness support Common understanding of the T2S impacts - The open dialogue Clearstream is having with the market participants serves to share views and to achieve a common understanding about T2S and its underlying impacts Understanding of the T2S-related customer requirements - Close collaboration enables Clearstream to understand customers requirements in the future T2S environment, testing and simulation needs Our mission: Ensure readiness to T2S of the market community - The interaction with the customer via active market consultations allows Clearstream to better support the readiness of its community. Our task is to smoothen the migration to T2S at maximum level for all our customers. 3 09 December 2014
T2S Info Session 05-DEC-2014 Customer Involvement and Information Clearstream has been actively involving customers since 2011 to ensure community readiness for T2S T2S Customer T2S Information Business Events Board - Bilateral Meetings - Webinars - Clearstream T2S Bulletin - Workshops and Roadshows - Clearstream T2S Web Portal - User Advisory Board - Clearstream T2S Distribution List - DUG / IIG - Effektenrunde Clearstream Customer SPOC Concept Clearstream T2S Customer Task Force - The Single Point of Contact - Ensures awareness and identifies (SPOC) on customer side is the the customer’s impact basis for close collaboration within - Aligns adaptation requirements the implementation phase between Clearstream and its - Coordinates the communication of customers for the implementation Clearstream T2S related activities of T2S 09 December 2014 4
T2S Info Session 05-DEC-2014 Customer Information – SPOC Concept Single-Point-of-Contact (SPOC) on customer side is the basis for close collaboration within the implementation phase Please note: Clearstream Responsibilities interaction and tasks of – Clearstream will with the SPOC the SPOC provide detailed informa-tion on – – the future Receives all Coordinates the SPOC-Concept account setup information on the T2S communication of for Clearstream implementation project Clearstream T2S- The SPOC will act as – SPOCs will be via email related activities within Our SPOC will act as asked to validate central point of contact an entity central customer if the existing – for all securities Will always be kept contact for all account structure – informed about major accounts related to a Will be responsible for securities accounts is already readiness activities the Clearstream single entity prepared for the related to a single implementation future processing entity – Is invited to readiness tasks and in a T2S world Clearstream’s the management of the T2S Roadshows, necessary sign-off webinars and procedures dedicated workshops 09 December 2014 5
T2S Info Session 05-DEC-2014 T2S Customer Readiness Activities Wide spectrum of activities are being conducted to ensure customer readiness for T2S Please note: Account Setup Checklist Training Simulation – The first T2S – All customers – Based on (sub) – Clearstream will – Customers will be Webinars were received information accounts customers conduct series of requested to conducted in early November 2013 on account setup will be requested to Webinars for different participate in our select their service settlement services simulation phase for – Bilateral meetings on – T2S Customer level, that means e.g. wave 3 – Customer workshops demand supported by workshops aim to DCA and RTGS – Customers allowing a Relationship for wave-specific achieve customer account requirements Management to requirements will be third party as account awareness for the – Usage of partial migration towards discuss new account set up to ensure operator shall indicate structure and setup settlement readiness which party will T2S and define the participate prerequisites for – The BIC Branch – Connectivity setup – CASCADE trainings future services – Simulation cases will Code (BIC11) (sessions and – Usage of T2S-Auto registration form has brochures) will detail be based on Collateralisation been provided the future settlement connectivity setup Service requirements – ICP and DCP authorisation tests will have to be executed – Team Clearstream and SPOC to validate if test cases were successful and customer is ready 09 December 2014 6
T2S Info Session 05-DEC-2014 T2S Customer Readiness Documentation Clearstream provides its customers with comprehensive documentation to ensure T2S knowledge transfer Detailed Functional Description (DFD) T2S Bulletin for our launch on 12 September 2016 within T2S wave 3 Release 4 Release 1 Release 2 Release 3 Publication planned T2S Glossary Published Published Published in first half 2015 − Static Data − Connectivity DCP − Custody − Cross Border Standard Customer Settlement − Domestic OTC − Stock Exchange − Cash Presentations − GSF 1) Services Settlement Settlement Management − Connectivity ICP − Business Day − CBF Settlement − New Issues 18 webinar sessions Reporting and Vaults in German and Processing English related to the DFDs Simulation Guide Migration Guide – Delivers the overall guidance for the simulation – Describes the migration concept and wave approach as well as impact on future settlement – Informs about test environment requirements, processes connectivity testing and will detail the test steps during – Provides a timeline for the transition period and a the execution period checklist of tasks 1) GSF = Global Securities Financing covering Collateral Management and Lending Services 09 December 2014 7
T2S Info Session 05-DEC-2014 Getting Ready for T2S - Approach Our roll-out follows risk based deployment approach of T2S changes We follow a risk based approach for T2S migration For the migration to T2S, three main migration paths must be coordinated With our ‒ Settlement Functionality adaptation November ‒ Deployment of T2S adaptations in a stepwise approach and as Release 2014 early as possible implementation into production to allow early further T2S user involvement functional ‒ Static Data requirements ‒ Migration of static data to T2S as early as possible (starting have been wave 1) introduced ‒ Dynamic Data (mostly pending instructions and positions) ‒ Migration inevitable in a “big - bang” approach for wave 3 To mitigate migration risk for the whole market, Clearstream has opted for a decoupling of the migration paths 09 December 2014 8
T2S Info Session 05-DEC-2014 Clearstream’s User Test Support Clearstream is your central interface to the T2S platform Please note: Our Customer Support ECB / 4CB Test − Requirements for Coordination and Support Clearstream will be the contact for Test Provide daily coordination and banks acting as ICP and/or DCP (in Coordination and support for CSDs’ / NCBs’ testing terms of authorisation) during user Support are still activities testing 1) in discussion with Address inquiries on T2S services Clearstream monitors all customers’ ECB / 4CBs and functions 2) issues Address inquiries on software defects Customers’ issues will be analysed in detail – together with customers On behalf of UTSG assess identified Clearstream Clearstream consolidates remaining defects from business perspective in order to prioritise these Customer issues and provides these to ECB / 4CB to follow up Prepare and conduct UTSG meetings Clearstream monitors and tracks all - including preparation of consolidated list as basis issues until a solution is available Follow test status of CSDs / NCBs Clearstream continuously informs customers about status of issues and Assess / monitor risks of and issues their resolution from UT and follow up on mitigation measures 1) Except for problems on the layer of technical connectivity 09 December 2014 9 2) Except for so-called incidents which are directly addressed to the T2S service desk at 4CB
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