T2S Roadshow well received
In 2018, DKK will join T2S, which means new operations and new business opportunities for every customer. VP has travelled the country and the Nordics with a series of T2S meetings to meet with customers and discuss the changes.
T2S is a huge project at VP SECURITIES, and it is now on its final leg, where it will affect nearly all customers in VP. The project is on track, EUR is up and running and DKK will follow in October 2018. VP has beefed up communication activities to secure, that the upcoming changes will not be an unpleasant surprise for any customer. In a series of face-to-face meetings all over the country as well as other Nordic countries, VP has discussed the implementation of T2S with the market.
“It is vital for us to make the transition smooth for our customers and their customers,” says T2S consultant Henrik Nymand from Bankdata. “We appreciate VP’s effort to meet us and our customers, so we can prepare ourselves for the new European infrastructure. It is a strong message of commitment to the sector.”
In addition, the collaboration between Nationalbanken (the Danish Central Bank), VP and the sector is important, Nymand points out. For some market participants the implementation in DKK is the first encounter with T2S and as the platform will have substantial impact on their operations, careful preparation is necessary.
“To us it is very productive to meet our customers and learn new perspectives on a project like this”, says T2S Product Manager Kristoffer Kjelsø Sønderlev from VP. “We have held many meetings and the interesting thing is that the dialogue and questions raised by each customer differs, which reflects different operational models and business models in the market.”
In a bigger picture, the information meetings are intended to raise awareness of the work to be done by each customer. The T2S project is well under way with no delays at VP. Testing of the T2S functionality between each customer and VP will start in April 2018, and finally T2S will go live in DKK 29 October 2018.