Customers and VP are testing a Business Day with T2S

Customers and VP have joined forces in the final phase of the test period before going live with DKK on T2S - which is just five weeks away.

28.09.2018

In 2017, 16.8 million securities trades were settled in the VP system, while the market value of the securities settled exceeded DKK 40,000 billion. Therefore, thorough testing of the migration to T2S is crucial. The market participants are now in the final phase - the Business Day Test - to check that securities settlement can continue when DKK joins T2S.

“The Business Day Test consists of different combinations of the test scenarios executed by the market participants in the earlier testing phases. The functionality is tested in sequence, and not individually as before, since this is all about testing the customer’s functionality in combination with our systems. In broad terms, we’re testing different types of settlement, the transfer of securities between a T2S account and a VP account, and a set of Corporate Actions as issuer and as investor,” explains Product Manager Kristoffer Kjelsø Sønderlev from VP.

“The Business Day Test is really valuable, since it exposes different combinations of transactions, systems, formats and actions between customers and VP. This is about complex systems communicating with each other and the tests will ensure that everything works according to plan. We’re on a shared journey with our customers to get this right before go-live,” he adds.

There is a high level of activity in the market during this final phase and to support this, a great number of meetings are being held. The focus is currently on market readiness and VP’s progress, and also on operational stability.

“At VP, this project is our biggest focus right now. We expect this high attention level to persist throughout September and October, and with a planned hyper-care period after go-live the 29 October 2018,” says Chief Commercial Officer Birger Schmidt from VP.

In parallel with the testing activities, VP has published a detailed plan for the activities before and during the migration weekend in October. This document is a result of joint collaboration between customers, Danmarks Nationalbank and VP.

Birger Schmidt

Chief Commercial Officer

+45 2067 8118
Follow me See profile

Investing in product development in close cooperation with our customers always gives the best results

- Birger Schmidt, Chief Commercial Officer