Xact Web Portal roll-out and CreationOnline decommissioning
Clearstream Banking1 informs customers of the following important points about Connectivity:
- CreationOnline will be decommissioned by 2021;
- Xact Web Portal will be actively rolled out from 2019;
- Future functionality will only be made available in Xact Web Portal;
- From 2020, CreationOnline’s pricing will no longer be aligned with Xact Web Portal and will see moderate increases.
This impacts both customers of Clearstream Banking S.A. and Clearstream Banking AG (using Creation accounts).
Introduced in 2003, Clearstream Banking’s trusted workstation, CreationOnline, will reach the final stage of its product lifecycle in 2021. Consequently, Clearstream Banking will decommission CreationOnline for the following reasons:
- increasing costs of maintenance and conformity to standards (annual SWIFT Releases) and regulatory requirements (CSDR);
- reliance on Java to install and log-on (see Announcement C18036);
- ever increasing functional disparity with Xact Web Portal.
Clearstream Banking will communicate definitive dates well ahead of the effective decommissioning date.
Xact Web Portal roll-out
As Xact Web Portal now offers all the core functionality available in CreationOnline as well as many new features, Clearstream Banking will now increase its efforts to roll-out the new workstation to all customers as a replacement for CreationOnline. Already today, all Clearstream Banking customers can benefit from the unique features Xact Web Portal provides:
- Access both ICSD (Creation) and CSD (T2S) settlement platforms;
- Business Monitoring Centre that alerts customers on their specific business;
- Dashboard providing you an overview all your business indicators;
- Powerful Simulation features for Securities Financing.
Throughout the remainder of 2019 and the beginning of 2020, we will further communicate with customers on the way to proceed with this migration. Please already note the following points:
- Functionally, Xact Web Portal and CreationOnline offer access to the same services in a comparable fashion. While the user experience may be different, we do not foresee a big effort for experienced CreationOnline business users to adapt to Xact Web Portal;
- Once an Organisation Unit has been opened in Xact Web Portal, customers have the full control of the user management via a set of OU Administrators to create new Business Users and User groups as best fits your organisation. Individual user credentials are not migrated into Xact Web Portal and the two systems remain active in parallel;
- Users have the possibility to migrate existing report subscription managed in CreationOnline directly in Xact Web Portal;
- Customers wanting to have access to Xact Web Portal or to test it in a controlled environment, please contact the Clearstream Connectivity Helpdesk.
Xact Web Portal and CreationOnline fees
Currently, Xact Web Portal and CreationOnline share the same fee structure with the same price for the same query and no double charging for subscribing to the same Business Service in both systems.
The Workstation Fees have been extremely stable, with only one adjustment since the availability of CreationOnline. From the beginning of 2020, CreationOnline will see its fees gradually increased to adapt to higher maintenance costs and its diminishing customer base, making it costlier on a per-customer basis. Xact Web Portal will still benefit from the current fee structure. Customers should see this as a further incentive to proceed with their full adoption of Xact Web Portal as swiftly as possible.
Information about Xact Web Portal can be found on the Clearstream website.
For technical details about Xact File Transfer connectivity solutions, please refer to Xact File Transfer on the Clearstream website.
For further information, please contact the Clearstream Connectivity Helpdesk or your Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.