Euroclear Finland Replaces Its Fixed Income System in Advance of T2S

Euroclear Finland has completed the first phase in its infrastructure overhaul by replacing its fixed income system, called Ramses, with a new system dubbed Infinity.
By Jake Safane(2147484770)
Euroclear Finland has completed the first phase in its infrastructure overhaul by replacing its fixed income system, called Ramses, with a new system dubbed Infinity.

Replacing the fixed income system enables the Finnish fixed income market to be fully compliant with European standards, and Euroclear hopes it will help clients streamline their back-office processing.

While Phase 1 is now complete, Euroclear Finland is also underway with Phase 2, which will replace its equity systems with Infinity as well, further bringing the Finnish market up to speed, in preparation for TARGET2-Securities (T2S). After the second phase, which is projected to be completed by May 2016, the third phase will entail Euroclear Finland connecting to TARGET2-Securities in February 2017.

“Euroclear is making a very large multi-year investment to substantially improve the post-trade services in the Finnish market,” says Yannic Weber, CEO of Euroclear Finland and Euroclear Sweden. “Re-building the core CSD systems brings us one step closer to T2S that we will join in early 2017 as part of the fourth wave. This remarkable market infrastructure change is carried out in very close co-operation with our participants. Our objective is to offer much better services to accommodate the rapidly changing needs of all types of clients and seize new business opportunities.”

«