Reminder- T2S Spanish Market Reform – 4th MWDR and Business Day Testing

Following the Newsflash dated Monday 17 July 2017, EuroCCP would like to remind Clearing Participants and their settlement agents of the fourth Migration Weekend Dress Rehearsal (MWDR) for T2S Wave 5 and the Business Day (BD) testing.

Migration Weekend Dress Rehearsal

EuroCCP will participate in the fourth MWDR for the Spanish market, however will not require Clearing Participant involvement. This MWDR will be used to test the migration process, in conjunction with Iberclear and the Post Trade Interface (PTI), and is scheduled during the weekend of Friday 4 – Sunday 6 August 2017.

In preparation of the fourth MWDR, no reports or messages relating to Spanish trading activity will be sent from EuroCCP’s Client test environment to Iberclear and the PTI test environment from Monday 31 July until Friday 4 August 2017.

On Monday 7 August 2017, BD Testing  begins and the Client test environment will be open for testing activity again in accordance with the production process window.

Business Day testing

Between Monday 7 August and Friday 1 September 2017 – full BD testing is scheduled. During these days, test cases can be executed in accordance with the production processing timelines.

Clearing Participants and their settlement agents undertake testing, including PTI reporting, in accordance with SMR phase II requirements.

During the first week of this BD Testing window, EuroCCP will only copy production trading activity into its Client test environment for trade date 7 to 9 August 2017. Transactions entered into the trading platform’s UAT environment will be processed in EuroCCP’s Client test environment during the full BD  Testing window.

The execution IDs of the production trading activity for Spain, which is copied in EuroCCP’s Client test environment during the business day test, will include a lower case “b” or “s” instead of a capital “B” or “S”.

In conjunction with Iberclear and PTI, the August BD testing window is scheduled as follows:-

Monday 7 August 2017
  • Start of business day testing – production processing timelines applies.
  • EuroCCP will copy production trading activity for the Spanish market with trade date 7 August 2017 into its Client test environment for intended settlement date 9 August 2017.
Tuesday 8 August 2017
  • EuroCCP will copy production trading activity for the Spanish market with trade date 8 August 2017 into its Client test environment for intended settlement date 10 August 2017.
  • Intended settlement date-1 for trade date 7 August 2017. Execution Realignment files, Ownership Reporting and Hold and Release requests will be processed in the Client test environment in accordance with the production processing timelines.
Wednesday 9 August 2017
  • EuroCCP will copy production trading activity for the Spanish market with trade date 9 August 2017 into its Client test environment for intended settlement date 11 August 2017.
  • Intended settlement date-1 for trade date 8 August 2017. Execution Realignment files, Ownership Reporting and Hold and Release requests will be processed in the Client test environment in accordance with the production processing timelines.
  • Intended settlement date for trade date 7 August 2017. Release requests will be processed in the Client test environment in accordance with the production processing timelines.
Thursday 10 August 2017
  • Intended settlement date-1 for trade date 9 August 2017. Execution Realignment files, Ownership Reporting and Hold and Release requests will be processed in the Client test environment in accordance with the production processing timelines.
  • Intended settlement date for trade date 8 August 2017. Release requests will be processed in the Client test environment in accordance with the production processing timelines.
  • At close of business, Iberclear and the PTI will cancel all outstanding transactions in its phase II test environment.
Friday 11 August 2017
  • Iberclear and PTI phase II test environment are closed for testing.
  • No reports or messages relating to Spanish trading activity will be sent from EuroCCP’s Client test environment to Iberclear and the PTI test environment.
  • EuroCCP’s Client test environment will be cleaned.
Monday 14 August – Friday 1 September 2017
  • Continue Business Day testing – production processing timelines applies.

We would refer you to EuroCCP’s Client test plan Spain T2S for the production and test processing timelines.

Please note that the Business Day test schedule is subject to change and may be updated.

Reporting during the third MWDR & Business Day testing

During the fourth MWDR and BD testing, EuroCCP’s CIF file will be generated and distributed from EuroCCP’s test environment as usual.