When, where
10-11 March 2010, 11 a.m. – 4 p.m.
ECB, Eurotower, Frankfurt am Main,
Meeting room C IV, 2nd floor
0. Introductory remarks and approval of the agenda
The Chairman will address some introductory remarks to the T2S Advisory Group (AG) and will invite the AG to agree on the agenda for the meeting.
1. Approval of the summary of the January 2010 meeting of the AG
- Summary of the Meeting of the T2S Advisory Group, 15 January 2010, (09.04.01/2010/000150)
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2. Follow-up to previous AG meetings
The T2S Team will report on the progress made on items discussed during the last AG meetings.
- Action list follow-up of the last two AG meetings (09.04.01/2010/000776)
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3. Reporting and debriefing
3.1 T2S Programme Plan
The T2S Team will update the AG on the current status of the T2S programme.
- Presentation on planning status, (09.04.01/2010/002078)
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3.2 T2S Programme Board debriefing
The Chairman will inform the AG about the outcome of the recent meetings of the T2S Programme Board.
- Presentation on Programme Board debriefing, (09.04.01/2010/002079)
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3.3 Discussions between CSDs and the Eurosystem
The Chairman will report on the progress of negotiations between CSDs and the Eurosystem.
4. Policy related matters
4.1 T2S Governance
The T2S Team will provide a revised proposal on the future T2S governance taking into account the discussion at the AG in December 2009. The note sets out the governance principles which will apply after the entry into force of the Framework Agreement, covering the development phase and the operational phase of T2S. The note focuses on the involvement of CSDs and Users in the future T2S governance.
The Chairperson of the Task Force to explore a separate legal entity, Marye Humphery, will present the report of the Task Force on that matter.
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Report of the task force to explore a separate legal entity to the AG, (09.04.01/2010/001889) download
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Presentation on t2s Governance, (09.04.01/2010/002077) download
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Presentation on task force to explore a separate legal entity, (09.04.01/2010/002041) download
4.2 Pricing
a) Tariff Structure
The T2S Team will provide the revised tariff structure for discussion taking into account the feed-back received at and after the December AG meeting.
b) Settlement volume estimates
The T2S team will provide information on estimated T2S settlement volumes.
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Volume projection questionnaire (09.04.01/2010/002019)
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Note on the T2S settlement volume estimates, (09.04.01/2010/001470)
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Note on T2S Tariff structure, (09.04.01/2010/001565)
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Comments on connectivity and pricing by Italian NUG, (09.04.01/2010/001615)
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Comments from Bundesbank on T2S pricing, (09.04.01/2010/001833)
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Comments from CCP.A on the T2S tariff structure, (09.04.01/2010/001820)
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Comments from Citi on the T2S tariff structure, (09.04.01/2010/001834)
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Comments from Clearstream on the T2S tariff structure, (09.04.01/2010/001840)
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Comments from DACSI on the T2S tariff structure, (09.04.01/2010/001835)
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Comments from Deutsche Bank on the T2S tariff structure, (09.04.01/2010/001839)
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Comments from Dwpbank on T2S tariff structure, (09.04.01/2010/001831)
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Comments from EMCF on the T2S tariff structure, (09.04.01/2010/001818)
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Comments from Euroccp on the T2S tariff structure, (09.04.01/2010/001819)
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Comments from FNUG on the T2S tariff structure, (09.04.01/2010/001830)
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Comments from Euroclear on the T2S tariff structure, (09.04.01/2010/001937)
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Comments from Goldman Sachs on the T2S tariff structure, (09.04.01/2010/001838)
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Comments from LCH Clearnet on the T2S tariff structure, (09.04.01/2010/001827)
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Comments from Lithuanian NUG on the T2S tariff structure, (09.04.01/2010/001837)
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Comments from Monte Titoli on the T2S tariff structure, (09.04.01/2010/001826)
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Comments from EACB on the T2S tariff structure, (09.04.01/2010/001829)
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Comments from Banca d’Italia on the T2S tariff structure, (09.04.01/2010/001836)
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Presentation on pricing, (09.04.01/2010/002022)
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Presentation on settlement volume estimates, (09.04.01/2010/002030)
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5. Technical matters
5.1 Connectivity
The T2S Team will provide an update to the AG on user connectivity in T2S.
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Comments on the user connectivity in T2S by ESA, (09.04.01/2010/001613)
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Comments on connectivity and pricing by Italian NUG, (09.04.01/2010/001615)
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Comments from Deutsche Bank on the T2S user connectivity, (09.04.01/2010/001853)
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Comments from Dutch NUG on the T2S user connectivity, (09.04.01/2010/001852)
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Comments from FNUG on the T2S user connectivity, (09.04.01/2010/001849)
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Comments from Interbolsa on the T2S user connectivity, (09.04.01/2010/001848)
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Comments from Monte Titoli on the T2S user connectivity, (09.04.01/2010/001851)
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Comments from Societe Generale on the T2S user connectivity (09.04.012010001850)
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High level comments by Euroclear on the connectivity note, (09.04.01/2010/001890)
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Comments from FNUG on SWIFT in the context of the T2S user connectivity, (09.04.01/2010/002040), [submitted on 10 March 2010]
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Presentation on connectivity for t2s, (09.04.01/2010/002105)
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5.2 ISO 20022 roll-out
SWIFT will present the planned roll-out of ISO 20022 messages to the members of the T2S Advisory Group.
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Swift presentation on implementing ISO 20022, (09.04.01/2010/002051)
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Swift presentation on coexistence in t2s, (09.04.01/2010/002074)
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6. Reporting by the chairpersons of the AG substructures
6.1 SG on Operational Framework (SGOF)
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Draft T2S Service Level Agreement, (09.04.01/2009/011181)
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SGOF Report to the AG, (09.04.01/2010/001918)
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The chairman of the SG on Operational Framework, Mr. Iain Saville, will report on the activities of the SG.
6.2 SG on Message Standardisation (MSSG)
The chairman of the SG on Message Standardisation, Mr. Paolo Carabelli, will report on the activities of the SG.
6.3 SG on Corporate Actions (CASG)
The chairman of the SG on Corporate Actions will present the CASG activities.
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CASG Chair note to the March 2010 AG, (09.04.01/2010/001938)
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CASG proposals for market standards for the processing of market claims in the context of T2S (09.04.01/2010/001564)
revised version clean version
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CASG revised market claim standard 17 (09.04.01/2009/011800)
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6.4 Task Force on Shareholder Transparency
The chairman of the Task Force on Shareholder Transparency, Paul Bodart will report on the activities of the TF.
7. Harmonisation, market practices and market discipline
7.1 List C
Mr. Joël Mérère will report on the outcome of the teleconference on Harmonisation (List C issues) on 23 February 2010.
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Status report on the watch list C – March 2010, (09.04.01/2010/001761)
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7.2 Harmonisation workshop on T2S matching fields
The T2S Team will report on the harmonisation workshop on T2S matching fields held on 26 January 2010 and the way forward.
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Presentation on T2S matching fields (09.04.01/2010/002021)
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7.3 Market practices in the context of T2S
The T2S Team will provide feedback received from CSDs/NCBs on their intention to use the CSD validation hold/reject functionality in T2S. Furthermore, the T2S team will seek advice from the AG on the way forward for reaching agreement for the use of T2S on a non-exhaustive list of topics related to other market practices.
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Note on the CSDs’ intention to use CSD validation hold/reject functionality in T2S, (09.04.01/2010/001572)
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Presentation on smooth cross CSD settlement in T2S, (09.04.01/2010/001869)
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7.4 Market discipline in the context of T2S
Based on the ECSDA report, the ECB T2S Team will make a proposal for the follow up actions on market discipline.
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Note on settlement discipline regimes and T2S, (09.04.01/2010/001895)
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Presentation on settlement discipline regimes and T2S, (09.04.01/2010/002099)
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8. Miscellaneous
8.1 AG meetings in 2010
- 15 and 16 June 2010: ECB, Frankfurt
- 7 and 8 September 2010: ING Bank, Brussels
- 6 and 7 December 2010: ECB, Frankfurt
8.2 Any other business
Note on CCG proposal on T2S principle 3
Members of the AG are invited to approve a minor wording amendment of the T2S principle 3 in the URD version 5.0, in order to avoid potential misleading interpretations.
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Note on CCG proposal on T2S principle 3, (09.04.01/2010/001925)
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Presentation on T2S principles, (09.04.01/2010/001994)
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Members of the AG are invited to raise any other issues that need to be discussed during this meeting and to notify the Secretary in advance, where possible.
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French NUG contribution operational issues for submission to the SGOF, (09.04.01/2010/001623)
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French NUG - operational issues for submission to the SGOF, (09.04.01/2010/001624)
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French NUG comments on Change request regarding unmatched Free of Payment transactions, (09.04.01/2010/001626)
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T2S team feedback on French NUG Change Request, (09.04.01/2010/001625)
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8.3 Other important dates
T2S Info Session, Paris, 24 March 2010
