DTCC Connection

The financial services industry, in coordination with regulators, is planning to shorten the settlement cycle for equities, corporate bonds, municipal bonds, unit investment trusts, and financial instruments comprised of these security types (e.g. ADRs, ETFs), from the current trade date plus three business days (T+3) to trade date plus two business days (T+2) on September 5, 2017.

The Detailed Testing Framework, a comprehensive plan for clients testing T+2 changes with DTCC and other industry infrastructures, has recently been updated with new testing information and published to the UST2.com web site.

Specifically, T+2 Test Approach: DTCC’s High-Level Testing Framework – Version 2 now has revised language surrounding the Security Master File (SMF) refresh schedule and purging of test transactions in the PSE U environment. In addition, new testing scenarios were added for interoperability with Bloomberg, SS&C and Omgeo as well as “Bank Holiday – Double Settlement Day.”

The updated paper also includes detailed information on:

• The structure of the T+2 industry test, including information on other industry infrastructures participating in the industry test, testing cycles and testing schedules
• DTCC’s T+2 and T+3 test environments, including information on the role of the different environments, how to connect to the different environments and how to get all the required access in both environments to support testing
• Suggested test scenarios which Members can use to begin preparing their own T+2 test plans

More information regarding T+2 is located on the UST2 website.

Clients can also access updated versions of this document through the T+2 page on the DTCC Learning Center website.

To view the updated white paper, please click here.