Following the Announcements D19049 and D19055, Clearstream Banking AG, Frankfurt1 informs customers about the implementation of issue resolutions for the Partial Release Request functionality following the TARGET2-Securities (T2S) Release 3.2 for business day
Monday, 2 December 2019
Background
Based on the test results for T2S Release 3.2, CBF informed customers about pending issue resolutions of T2S ("Known Limitation") with the above-mentioned announcements. T2S plans to gradually correct the deviations identified in the test in the coming months up to the implementation of T2S Release 4.0 (June 2020).
With this Announcement, CBF advises the issue resolutions of T2S Problem Tickets (PBIs) for the Partial Release Request functionality (T2S-CR-653-SYS), which will be implemented in a first step. This means, after the implementation of the first corrections, the service will not be fully available. Further information on the detected deviations is available in the Announcements D19049 and D19055 in the section "Known Limitations".
Scope
End of November 2019, T2S plans the deployment of “Hot Fixes” for the following Problem Tickets:
Cross-border instructions CSD partial release not initiated
For the cross-border instruction, the partial release was not initiated during partial settlement window (PSW) even though the Partial Release request was successfully instructed. During the PSW no status reporting was provided, but a cancellation message with the rejection code “SPSA005” was transmitted after the cut-off time.
Maintenance of Partial Release requests
During the testing, it was determined that a "full release" for an instruction that was already partially released cannot be considered by T2S. The intended modification of the instruction is possible if the customer first submits a "Hold" instruction and then an instruction for the "Release".
In November 2019, T2S will implement a new rule informing customers that a “full release” has been provided, although a partial release request is being processed at the same time. The existing error message "MMRI206: The referenced Settlement Instruction is already partially released or there is a pending Release Instruction of the same Hold type in the system" will be used. The new rule leads to a rejection of the “full release” transmitted via Securities Settlement Modification Request (sese.030).
Customers acting in ICP mode and providing the partial release request via:
- An automated connectivity channel (SWIFT, File Transfer (FT) or MQ) using the message type “Transaction Processing Command (MT530)" will be informed about the rejection of a not allowed release request via “Settlement Status and Processing Advice (MT548)“. CBF will forward the error code communicated by T2S.
- CASCADE Online functionality (HOST / PC) can retrieve rejected instructions by using the transaction "KVAI" and function "HA" respectively “OTC pending instructions / Instruction history“.
The implementation of the above-mentioned error message will not change the current functionality. As a result, the customer must continue to provide a "Hold" instruction before an instruction for a “full release” can be entered.
Unexpected delivery from sese.024 unmatched and accepted
The following Problem Ticket concerns the Change Request "T2S-CR614-SYS: Matching status should be included in sese.024 status messages for unmatched instructions when a pending reason is reported" and was only marked as "PBI" by T2S shortly before T2S Release 3.2 was implemented. Customers acting in DCP mode can receive status messages from T2S for "pending unmatched" instructions, even though the message configuration is only set up for instructions in the status "Matched" or "Cancelled".
The error correction text is as follows:
“sese.024 with status “Unmatched” and processing status “Accepted” is transmitted, although there is only a set up for the message subscription related to “Matched” and “Cancelled” status advices. This deviation occurs because there is a technical impact on the message subscription. There is no workaround for this issue.”
Customer simulation
According to the ECB implementation plan, the above-mentioned “Hot Fixes” will be deployed on Friday, 22 November 2019 in the T2S Pre-Production Environment (UTEST). For this purpose, the Release Day Schedule will be used. Therefore, the UTEST as well as the CBF Customer Simulation Environment (IMS23) will be closed on this day.
Customers will have the opportunity to test the Partial Release Request functionality in IMS23. This test can be performed by executing dedicated test cases for a PBI or as regression test. The configuration established in October and November 2019 for the "Guided Customer Simulation Period" is still valid.
The customer simulation environment will be available until Thursday, 19 December 2019 and will be closed afterwards until the end of 2019.
Contact
Please contact our Client Services teams for questions regarding the functionality. Questions related to the technical connection can be addressed to our Connectivity Support teams. Particular questions related to the T2S Release 3.2 will be routed to the experts of the T2S Settlement Functionality team.
----------------------------------------
1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.