T2S Migration Schedule

UniCredit Bank Austria AG
Summary: 
Timeline for the T2S migration weekend in Austria starting on 3 February 2017
Fri, 27/01/2017

Please take note of the following time schedule for the T2S Wave 4 migration weekend in Austria.

Friday, 3 February

Securities account opening instructions will not be supported but will only be processed on Monday, 6 February 2017.

On the settlement side, the cutoff times for OTC settlement will be shortened to 14:45 CET for all types of instructions, i.e. settlements and cancellations. All internal (book) trades will be migrated irrespective of their status. All external pending trades that are already matched will be migrated to T2S starting at 17:00 CET, while external unmatched trades will be auto-cancelled by the CSD and will need to be re-instructed by the client. For these trades, MT548 CAND/CANS will be sent by 16:30 CET at the latest.  The new instructions in the T2S format can be sent after receipt of the CSD confirmation, which is scheduled for 16:30 CET.

SWIFT MT53x statements will be sent overnight, after the close of busines.

Saturday, 4 February

This day will be dedicated to the arranging of the bank's internal setup and for the delivery of the optional client information, where required.

Sunday, 5 February

The Point-of-No-Return will be reached at 00:45 CET at the earliest, which will be confirmed accordingly. Following this, the green light for real-time settlement can be obtained at 10:30 CET at the earliest. Afterwards, the first T2S settlement updates and confirmations will be received and forwarded to the clients by UniCredit Bank Austria. Our clients will be notified of any non-migrated pending trades by their dedicated Account Managers via email. The real-time settlement processing will continue until 18:50 CET in line with the schedule to enable the T2S maintenance window between 19:00 CET on Sunday and 05:00 CET on Monday.

Monday, 6 February

Real-time OTC settlement will be performed within the standard timeframe of 05:00 CET to 18:00 CET and the first T2S CCP.A settlement cycle will run at 10:00 CET.

Impact on investors: UniCredit Bank Austria will continue providing regular updates to our clients about the progress of the T2S migration