Clearstream successfully concludes T2S migration test and starts T2S Community Testing
A fourth Migration Weekend Dress Rehearsal (MWDR) involving Clearstream’s CSDs in Germany and Luxembourg was completed between 7 and 11 July 2016.
This test was conducted for the first time including Clearstream customers, together with the Eurosystem, SWIFT and all Wave 4 CSDs and NCBs. More than 90 customers representing approximately 70% of the overall settlement volume participated in the testing activities.
Clearstream’s systems and operational processes performed well and within expected timeframes. However, the overall test targets were not met, and planned migration activities, including those of Clearstream customers, were delayed beyond the envisaged timeline. This delay was a result of issues external to Clearstream.
The results of this test confirm Clearstream’s technical readiness for T2S, especially in view of the Community Test to start later this week, as well as the good progress in the preparation of the German market community for the T2S migration in February 2017.