Finland: Finnish CSD will not migrate to T2S originally scheduled for 18 September 2017

12.01.2017

Further to Announcement A16098, dated 5 July 2016, and Marketflash M16013, dated 12 September 2017, customers are advised that the Finnish CSD, Euroclear Finland, has announced that Infinity Release 2 for equities scheduled to be implemented before Wave 5 of Target2-Securities (T2S), scheduled for 18 September 2017, has been postponed. Euroclear Finland said this will ensure the delivery of a safe and stable platform.

A revised timetable for the Infinity Release 2 will be discussed in the meeting with the Finnish Market Advisory Committee in mid-February. The revised timing for the Infinity phase 2 release will also impact the schedule for the final phase of Infinity’s development, which includes its connection to the ECB’s T2S platform.

As such, Euroclear Finland will not be able to migrate to T2S on the current date scheduled on 18 September 2017.

We continue to monitor the situation in the Finnish market and will provide further information as it becomes available.

This Marketflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Marketflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Marketflash does not constitute legal or tax advice.