Helsinki
05 February 2015
Reporter: Stephanie Palmer

To 'Infinity' and beyond


The Finnish central securities depository (CSD), Euroclear Finland has begun the process of replacing its entire securities processing infrastructure.

Named Infinity, the new system is designed to bring the Finnish market a step closer to T2S, and will be released progressively in three stages. The first release was completed successfully on 2 February.

Mats Råstedt, chairman of the Finnish market advisory committee, said: “Implementing the Infinity system for the fixed income market has been a tremendous effort for the whole market. Close cooperation and coordination between Euroclear Finland and the market participants has made this transition possible.”

“This is an important milestone on the Finnish market’s roadmap to T2S, and at the same time aligns the Finnish fixed income market with the new European harmonisation standards”

The first release replaces the CSDs previous fixed-income system, Ramses.

The second stage is scheduled for May 2016 and will replace the current equity transaction processing systems, HEXClear, and the central register.

The final release will connect the Finnish market to T2S in the scheduled migration in 2017.

Yannic Weber, CEO of Euroclear in Finland Sweden, said: “Euroclear is making a significant multi-year investment to substantially improve the post-trade infrastructure in the Finnish market.”

“Upgrading the core CSD systems brings us closer to readiness for T2S. This remarkable market change has been carried out in very close co-operation with our participants. Our continuing objective is to offer better services and flexibility to accommodate the rapidly changing needs of all types of clients.”

Hanna Vainio, deputy CEO of Euroclear Finland and sponsor of the Infinity programme, said: “We are very pleased that the launch has been such a success. Going live took us less than two years which is a major achievement.”

“Infinity itself is a major upgrade that enhances our CSD service offering while supporting the latest European harmonisation standards. These new features will allow clients to streamline their back-office operations, which will significantly ease their pan-European post-trade processing.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Ogier boosts their firm’s partnership
22 August 2017 | George Town | Reporter: Jenna Lomax
Huckle and Dryden were both previously part of the Cayman investment funds team and will take the firm’s global partnership to 54
ISDA: Transition period essential for post-Brexit derivatives trading
21 August 2017 | New York | Reporter: Stephanie Palmer
The International Swaps and Derivatives Association has urged UK and EU regulators to implement transitional provisions for derivatives trading after Brexit
SimCorp sees extension of Danish mandate
21 August 2017 | Copenhagen | Reporter: Stephanie Palmer
Danish asset manager C WorldWide Asset Management Fondsmæglerselskab has extended its SimCorp Dimension licence agreement to include the Data Warehouse Manager and the SimCorp Coric client communications tool
Liquidnet expands its EMEA team
18 August 2017 | London | Reporter: Jenna Lomax
Strobel will report to Bob Garrett, who is head of technology and based in the New York office
TPAs and managers looking to outsource fintech
18 August 2017 | London | Reporter: Jenna Lomax
Global third-party administrators and asset managers are looking to outsource financial technology at an increasing rate, according to Domenic Ionadi, strategic account manager at Confluence
Boeing and JCP name Northern Trust as global custodian
17 August 2017 | Chicago | Reporter: Jenna Lomax
The Boeing Company has mandated Northern Trust to act as global custodian for its €54 billion defined contribution retirement plan
Whitebox Advisors chooses Broadridge suite solution
17 August 2017 | New York | Reporter: Jenna Lomax
Whitebox Advisors has mandated Broadridge Financial Solutions to transform its technology platform into a fully integrated, hedge fund operation
More news