Following the intensive discussions conducted with the members of the Beta Test Work-group and the Developers’ Forum, the Hungarian Central Securities Depository (KELER) has announced the project schedule for the implementation of its new system BaNCS (Phase 1) and the migration to T2S platform (phase 2). The implementation of BaNCS is now set to take place in June 2016, while various tests will be carried out in accordance with the following schedule:
| Phase | Date |
| Clients’ vendor test | November 2015 - until the end of Beta tests |
| Beta test | January-February 2016 |
| Market test | March-April 2016 |
| Go Live – Phase1 | June 2016 |
| Go Live – Phase 2 | September 2016 |
The scope of the new services to be implemented with BaNCS and/or with T2S has been finalized. With members of the above mentioned professional forums clearly stating that multiple developments and testing should be avoided, KELER prepared a proposal to shift as much modifications as possible to Phase 1 from Phase 2.
Furthermore one single document will be prepared consolidating all service developments and the full service range of KELER. The new documents and actions to be taken in the forthcoming period will be discussed in the course of the next Beta Test Work-group meeting to be held on 12 November 2015. The finalized documents will be published in due course following the meeting.
Impact on investors: KELER has announced the new go-live date and testing period of the BaNCS system that enables market participants to schedule their own preparations for the system replacement.