| Market: | Ltd |
| Products: | Cash |
| Date: | 19 September 2006 |
Project: Sterling GC Launch
Member Test Pack – Part 2 Scripted Scenarios
Dear RepoClear Participant
Further to the Info Flash dated 15 September 2006, please find attached the Member Test Pack including the Scripted Connectivity Test and the Mandatory Scripted Member Test (Cycles 1 and 2).
The Member Test Pack consists of:
The Scripted Scenarios o Day-by-day test roadmap instructing members on input of test trades and Sterling GC clearing and settlement process
Crest Direct Input quick start guide o A fast-track process in order to facilitate members set-up for Direct Input on the CRESTCo GUI
Crest Participant Testing Checklist (Crest enhancements October 2006) o CRESTCo document outlining functionality of general settlement services (please be aware that the CRESTCo time table will be published in the near future)
Test Preparation
Subsequent to the amendments made to the original Test Plans outlined in the Info Flash dated 15 September 2006, trade platforms that are participating in the revised Test Programme is now focussed on ICAP Electronic Broking (BrokerTec) only, with ETCMS now not included in testing, but included in the go live on 23 October. It is also now confirmed that MTS Italy will not go live from the above launch date.
Members are reminded that in order to perform the test it is mandatory for their SWIFT communication environment to be in “current” and not “future” mode.
Within the test environment, LCH.Clearnet will act as trade counterparty to all test members using the mnemonic RDRC1.
Prior to the inputting of test trades on the ICAP Electronic Broking (BrokerTec), members are advised that they should contact the ICAP Electronic Broking (BrokerTec) Helpdesk on:
Telephone: +44 (0)20 7000 5800 or btec_uk_mktsupt@icap.com, in order to clarify the process.
Test Monitoring
LCH.Clearnet are asking members that are in the scope of the Sterling GC Test Plan to provide two check-points as follows:
Interim sign-off (page 5 of the Member Test Pack – Scripted Scenarios) on 6 October 2006 following the completion of Cycle 1.
Final sign-off (page 4 of the Member Test Pack – Scripted Scenarios) on 17 October 2006 following the completion of Cycle 2.
Planned Communication
11 October, 2006 : - Confirmation of Crest live environment availability for static data set up o Updated RepoClear Regulations covering the Sterling GC product
18 October, 2006: - Confirmation of go live date
Summary of amended Sterling GC test plan:
27 September 2006 - Scripted Connectivity Test with LCH.Clearnet and start of optional member testing
2 October 2006 - End of free format and scripted Member Connectivity Testing and start of CRESTCo Member Connectivity Testing
3 October 2006 - Start of Mandatory Scripted Member Test without CRESTCo (Cycle 1)
6 October 2006 - Close of Mandatory Scripted Member Test
- Interim sign-off due to be returned to LCH.Clearnet by members
9 October 2006 - Inclusion of CRESTCo in Mandatory Scripted Member Test (Cycle 2)
11 October 2006 - General communication confirming the Crest live environment availability for static data set up
17 October 2006 - End of Mandatory Scripted Member Test
- Final sign-off of member testing form by members
18 October 2006 - Confirmation of live date notice sent by LCH.Clearnet
23 October 2006 - Intended go live date
30 October 2006 - Contingency live date
For further information on Sterling GC Implementation, contact: Nathalie Parquic, LCH.Clearnet Implementation Team, Tel: +44 207 426 7889, E-mail: nathalie.parquic@lchclearnet.com
For further information, contact: Nick Maggs, Fixed Income Market Liaison, Tel: +44 207 426 7442, E-mail: nick.maggs@lchclearnet.com