As a consequence of Euroclear's announcement to postpone the migration of the ESES CSDs to T2S to September 2016 at the earliest, the Eurosystem initiated assessment of possible new compositions of the migration waves. The participating CSDs were asked by a newly established joint working group to elaborate on their preferences and finally to confirm their decisions with respect to these scenarios.
In the conference call of the CSD Steering Group on Monday, 23 November 2015, OeKB CSD confirmed that the joint working group should assess the scenario, where OeKB CSD would migrate together with Clearstream in Wave 4 (February 2017) rather than in Wave 3 (September 2016), as originally foreseen. This is due to OeKB CSD's close interaction through technical links with Clearstream, which prevents OeKB CSD from migrating before Clearstream.
The joint working group will finalise its assessment in early December, allowing the CSD Steering Group to agree on the new migration waves for T2S in its meeting on 10 December 2015.
Impact on investors: Possible new date for migration of the Austrian market to T2S.