Dear Valued Client,
As you are aware, the UK left the European Union on 31 January 2020 and has been in a transition period scheduled to terminate at 11 p.m. GMT on 31 December 2020, at which time the reporting obligation for UK EMIR and UK SFTR will come into force. As part of DTCCs ongoing preparation we will be undertaking a number of critical actions in the coming weeks.
In preparation for the launch of our re-platformed UK-EMIR user-acceptance-testing (UAT) environment we will be disabling access to our current UK-EMIR UAT environment. This legacy UAT environment has been open since the start of the Brexit project in early 2019. This disablement is essential in order to upgrade the environment to the final UK-EMIR code-base and prepare for the move to the new platform. In terms of ingestion validations and processing the delta between the current UK-EMIR UAT code-base and the final one is very small (DTCC will be publishing details of these changes in the coming weeks). This release is geared towards supporting the new platform and accommodating the data migration. The dates that this environment will be unavailable for testing are as follows:
- Closure: Friday 25 September 25, 2020
- Reopen: Monday 12 October, 2020
The EU-EMIR UAT environment is not impacted by the above and will continue to be available for testing. For clarity, during this period of downtime any clients submitting cross jurisdictional messages into both the UK-EMIR and EU-EMIR UAT environments will only get a response for the EU-EMIR side. UK-EMIR UAT submissions during this period will be discarded and will be unrecoverable.
The EU-SFTR UAT environment is not impacted by the above. The new UK-SFTR UAT environment will open for client testing from October 23 enabling clients to submit trades to the trade repository, as part of the first of 3 planned UAT releases.
We will shortly be publishing a Brexit Implementation Guide. All Brexit planning will be outlined within this document including details of UAT availability and data migration dress rehearsals. This document will cover both SFTR and EMIR.
Please email email@example.com with any questions you may have.