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This document provides an agenda and details for a T2S UDFS Workshop on October 5, 2010. The agenda includes discussions on the scope and planning of UDFS deliveries, a presentation of the UDFS v0.2 document, and feedback from market participants. Details are given on the expectations for early market involvement in the UDFS, the roadmap and content of interim UDFS versions, and the organization of providing feedback. Market participants are asked to reserve dates for future workshops and provide comments on the UDFS v0.2 by October 15, 2010 to help improve the specification.
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- 1. 09.04.01/2010/008189 T2S UDFS Workshop 5 October 2010
- 2. Agenda 1. Introduction 2. Scope and Planning of UDFS deliveries 3. Presentation of the UDFS v0.2 Cover note UDFS v2.0 4. Discussion on markets participants feedback part 1 5. Lunch 6. Discussion on markets participants feedback part 2 7. Other discussion points
- 3. 2. Scope and Planning of UDFS deliveries Presentation of main expectations towards this early market involvement Roadmap of the UDFS deliveries. Scheduling of workshops set-up with the market Content of the different deliveries Organisation of the feedback
- 4. Expectations towards the early market involvement for UDFS The early involvement of the market aims at checking: That UDFS provide the relevant scope of information Making sure that the information deemed necessary by T2S Actors to build their interface with T2S is available and checking the accuracy of information. The information provided is efficiently usable Ensuring that information provided in UDFS is adequately structured and sufficiently clear to allow an efficient use by T2S Actors for building their interface with T2S. 4
- 5. Expectations towards the early market involvement for UDFS Such an early involvement would allow securing the UDFS consultation process foreseen in 2011 by: - Facilitating a common understanding of the purpose and scope of UDFS sufficiently early in the process - Gaining feedback and experience to enrich and clarify the UDFS in the perspective of the release of UDFS V1.0 - Building market confidence in UDFS and allowing a progressive acquaintance of UDFS to avoid surprise effects when submitting UDFS V1.0 to public consultation Active and open interactions during this period are consequently highly welcome 5
- 6. 2. Scope and Planning of UDFS deliveries Presentation of main expectations towards this early market involvement Roadmap of the UDFS deliveries. Scheduling of workshops set-up with the market Content of the different deliveries Organisation of the feedback
- 7. Roadmap of UDFS deliveries Scheduling of UDFS workshops Versions Materials Workshops Comments by UDFS v 0.20 16 Sept 2010 5 Oct 2010 15 Oct 2010 UDFS v 0.25 12 Nov 2010 22 Nov 2010 30 Nov 2010 UDFS v 0.3 30 Dec 2010 13 Jan 2011 21 Jan 2011 It is desirable to have the same members in the group in all UDFS workshops, as the versions build on each other Please reserve the dates in your calendars in advance
- 8. 2. Scope and Planning of UDFS deliveries Presentation of main expectations towards this early market involvement Roadmap of the UDFS deliveries. Scheduling of workshops set-up with the market Content of the different deliveries Organisation of the feedback
- 9. Content of UDFS V0.2 UDFS V0.20 CHAPTER 1 - GENERAL FEATURES OF T2S 1.2 1.2.1 Configuration of Parties, Securities and Accounts Parties UDFS V0.25 UDFS V0.30 Content of the intermediate UDFS deliveries % CHAPTER 2 - DIALOGUE BETWEEN T2S AND T2S ACTORS 100 90 2.1 Introduction 80 2.2 Communication processing 70 1.2.2 Eligible securities 60 2.3 Send settlement instruction 1.2.3 Eligible currencies 50 2.4 Send settlement restriction on Securities Position 2.5 Send settlement restriction on Cash Balance 2.8 Send amendment instruction of a settlement instruction or of a settlement restriction on securities position 2.9 Send amendment instruction of a settlement restriction on cash balance 2.11 Send cancellation instruction of a settlement instruction or a settlement restriction on securities position Purpose and scope of the Catalogue of Messages 2.12 Send cancellation instruction of a settlement restriction on cash balance Structure of the Catalogue of Messages 2.13 Send immediate liquidity transfer 2.14 Send RTGS answer 2.15 Execution of liquidity transfer orders from RTGS to T2S Securities Management (semt) 2.16 Execution of a standing and predefined liquidity transfer orders from T2S to RTGS IntraPositionMovementInstruction 2.18 Send Query 2.19 Receive Report 2.20 Maintain SD 2.21 Restrict SD 1.2.5 1.5 1.5.1 Accounts structure and organisation Application processes description Settlement UDFS V0.30 40 30 UDFS V0.25 20 10 UDFS V0.20 0 1.5.1.1 Business Validation 1.5.1.2 Matching 1.5.1.3 Allegement 1.5.1.5 Instruction Cancellation 1.5.1.7 Instructions Recycling Introduction & Readers' Guide Optimising - Partial settlement Chapter 2 3.1 3.1.1 3.2 Introduction General Information 1.5.1.11 Linked Instructions 3.2.1 Message validation Blocking / Reservation / Earmarking 3.2.2 Communication infrastructure 1.5.1.13 1.5.2 Liquidity Management 1.5.2.2 Limit Management 1.5.2.5 Cash Blocking and Reservation 1.5.4 Status management 3.3 3.3.1 List of Messages IntraPositionMovementStatusAdvice IntraPositionMovementConfirmation Information Management 1.5.4.1 Chapter 3 CHAPTER 3 - CATALOGUE OF MESSAGES 3.1.2 1.5.1.9.3 Chapter 1 APPENDICES
- 10. Content of UDFS V0.25 UDFS V0.20 = UDFS V0.25 UDFS V0.30 + READERS GUIDE 1.1 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 1.2 1.2.4 1.3 1.3.1 1.3.2 1.3.3 1.3.4 1.4 1.4.1 1.4.2 1.4.3 1.5 1.5.1 1.5.1.4 1.5.1.6 1.5.1.8 1.5.1.9 1.5.1.10 1.5.1.12 1.5.2 1.5.2.1 1.5.2.3 1.5.2.4 1.5.2.6 1.5.2.7 1.5.3 1.5.4.2 1.5.4.3 1.5.5 1.5.5.1 1.5.5.2 1.5.5.3 1.6 CHAPTER 1 - GENERAL FEATURES OF T2S T2S Features Overview Settlement Liquidity management Information management Static Data management Operations and Support Configuration of Parties, Securities and Accounts Instructions Types Access to T2S Connectivity features (A2A/U2A) Access rights GUI Security Settlement day T2S Calendar T2S Settlement Day Description Possible actions from T2S Operator Application processes description Settlement Instruction Amendment Hold & Release Posting Optimising Realignment Conditional Settlement Liquidity Management Liquidity Transfer EOD Cash Management Corporate Actions Cash Multiple Liquidity provider Liquidity Monitoring Static Data Management Report generation Query management Operations and Support Operational Monitoring Invoicing Migration tools Limitations of the System Content of the intermediate UDFS deliveries % 100 90 80 70 60 50 UDFS V0.30 40 30 UDFS V0.25 20 10 UDFS V0.20 0 Introduction & Readers' Guide Chapter 1 Chapter 2 Chapter 3 CHAPTER 2 - DIALOGUE BETWEEN T2S AND T2S ACTORS 2.6 Send release instruction for CoSD by admin party 2.7 Send cancellation instruction for CoSD by admin party 2.10 Send hold/release instruction APPENDICES CHAPTER 3 - CATALOGUE OF MESSAGES 38 MESSAGES BankToCustomerAccountReport BankToCustomerDebitCreditNotification BankToCustomerStatement BusinessApplicationHeader GetAccount GetTransaction LiquidityCreditTransfer LiquidityDebitTransfer ModifyStandingOrder Receipt ReturnAccount ReturnTransaction GetStandingOrder ReturnStandingOrder SecuritiesBalanceCustodyReport SecuritiesMessageCancellationAdvice SecuritiesSettlementAllegementRemovalAdvice SecuritiesSettlementConditionsModificationStatusAdvice SecuritiesSettlementTransactionAllegementNotification SecuritiesSettlementTransactionAllegementReport SecuritiesSettlementTransactionConfirmation SecuritiesSettlementTransactionStatusAdvice SecuritiesTransactionCancellationRequest SecuritiesTransactionCancellationRequestStatusAdvice SecuritiesTransactionPostingReport SecuritiesSettlementConditionsModificationRequest SecuritiesSettlementTransactionGenerartionNotification SecuritiesSettlementTransactionInstruction SecuritiesTransactionPendingReport SecuritiesTransactionStatusQuery AccountExcludedMandateMaintenanceRequest AccountOpeningRequest AccountReport GetBusinessDayInformation GetLimit ModifyLimit ReturnBusinessDayInformation ReturnLimit
- 11. Content of UDFS V0.3 = UDFS V0.25 UDFS V0.30 + INTRODUCTION CHAPTER 2 - DIALOGUE BETWEEN T2S AND T2S ACTORS % CHAPTER 3 - CATALOGUE OF MESSAGES Content of the intermediate UDFS deliveries 5 1 100 90 43 MESSAGES Collateral management File header End-of-Day Liquidity transfer 2.22 Start of Day processing 2.23 Resend Message 1 Resend Request 70 2 Collateral Value 60 2.17 1 Report Query 1 Receipt Acknowledgement 2 Limit Utilisation Journal 5 Party Management 1 2 Securities Settlement Transaction Audit Trail Report Cash Account List/Query 3 Account Request 80 50 UDFS V0.30 40 30 UDFS V0.25 20 10 UDFS V0.20 0 Introduction & Readers' Guide Chapter 1 Chapter 2 Chapter 3 N.B: UDFS v1.0 will contain 12 additional messages in comparison to v0.30, i.e. 4 - Intra Balance Modification/Cancellation/Status 2 - Billing 2 - Static Data Audit Trail 4 - Statement of Securities Account Reference Data/ Party Reference Data/ Securities Reference Data Messages that are not in the scope of UDFS v1.0 will be published in a later version of UDFS, i.e: 16 Settlement Instruction Query 1 Delete Standing Order 2 Securities Reference Data Queries 8 Securities Reference Data 3 Intra Balance Movement 6 Securities Account Reference Data APPENDICES
- 12. UDFS Updating process Integration of feedback on UDFS intermediary deliveries: Assessment of comments after each feedback Transparency on how to integrate the comments Progressive integration in the following delivery(ies) on a best effort basis Feedback on UDFS V0.2: Integration on a best effort basis into UDFS V0.25 and UDFS V0.3 Finalisation of integration into UDFS V1.0 Feedback on UDFS V0.25: Integration on a best effort basis into UDFS V0.3 Finalisation of integration into UDFS V1.0 Feedback on UDFS V0.3: Integration into UDFS V1.0 12
- 13. 2. Scope and Planning of UDFS deliveries Presentation of main expectations towards this early market involvement Roadmap of the UDFS deliveries. Scheduling of workshops set-up with the market Content of the different deliveries Organisation of the feedback
- 14. Organisation of the feedback Market review comments to be sent to T2S_Specifications@ecb.int Collection of review comments via the provided Excel file Topic: Sub-chapter to which the comment belong to Comments: Description of review comment Market review comments welcome during workshop and before/after Eurosystem will anonymise & consolidate review comments and share with market participants Incorporation of the review comments: into next UDFS intermediate release on a best effort basis status on the incorporation of comments will be returned to the market via the excel file