VPS, the Norwegian CSD, had systems problems yesterday, which stemmed from a platform upgrade. Though they were solved quickly, VPS was for a time unable to send out settlement confirmations to participants using the ISO 15022 format, according to SEB Merchant Banking in Oslo.
DnB NOR says it was not affected by the problems at the VPS, because it uses a different method to communicate with the CSD. “After each settlement cycle DnB NOR receives a file from the VPS that is loaded into our system, the client’s account is updated and then a SWIFT message is sent to the client,” says a spokesman for DnB NOR in Oslo. “However, other participants receive ISO15022 message over the SWIFT network. As the problem lay with the VPS SWIFT connection, DnB NOR clients were not affected. As there have not been any issues with the normal settlement and matching routines, DnB NOR clients have not been affected whatsoever.”