Wednesday July 6 2016
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Clearstream Banking has issued a statement that effective from 14 November 2016, Euroclear Finland’s core Central Securities Depository (CSD) platform HEXClear and Central Register will be replaced by the Infinity system.
The launch will impact on equities and corporate bonds and is referred to in the market as “Release 2”. The Release 1 that impacted bonds and money market instruments was launched in February 2015.
The effective date was agreed with the Finnish Market Advisory Committee (MAC) together with a backup date of 28 November 2016.
The replacement of HEXclear with Infinity will introduce the following characteristics:
- T2S compliant settlement processes and finality;
- Automated detection and creation of market claims and transformations with taxation handling; and
- Automated corporate action net entitlement calculation and tax processing.
Click on the link above for further details