UPDATING OF THE SETTLEMENT ACCOUNT FOR FREE OF PAYMENT INSTRUCTIONS WITH THE SWISS CSD SIX-SIS; TEST PLAN

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1 CBS123 May 22nd 2012 UPDATING OF THE SETTLEMENT ACCOUNT FOR FREE OF PAYMENT INSTRUCTIONS WITH THE SWISS CSD SIX-SIS; TEST PLAN Monte Titoli is glad to inform its customers that free of payment (FOP) instructions with Swiss CSD will be settled on the account IT that is already in use for AP instructions; as a consequence the account IT100118, currently in use for FOP instructions, will be closed. On this occasion, matching will be made mandatory for FOP operations within the link, requiring that the participant also instructs FOP receipts, as per the internationally recognised best practice. Customers will have the possibility to perform testing on the above-mentioned be functionalities from 4th to 29th June, in test environment. The Test Plan is available as an annex to this document. The effective date (planned for July 2nd) for release to production will be confirmed through a specific communication, depending on the tests outcome. 1

2 FOR MORE INFORMATION PLEASE CONTACT: Service Operation Tel: Settlement International Tel: Monte Titoli S.p.A Monte Titoli is a leading provider of efficient and secure financial market post-trade services, across presettlement, settlement, custody and asset services. Monte Titoli operates a sophisticated platform providing on-exchange and OTC trade matching and confirmation as well as offering a highly efficient European settlement system and custody service for safe keeping across asset classes. Monte Titoli has an extensive international customer base of over 400 banks and brokers, CCPs and trading venues and offers its services to more than 2,000 issuers. Monte Titoli S.p.A is owned by the international diversified exchange business, London Stock Exchange Group. 2

3 Switzerland link update Activation of new account and mandatory matching for FOP service Test Plan 3

4 Summary 1. INTRODUCTION AIM OF THE TEST TEST ORGANISATION REQUIREMENTS TO PARTICIPANTS TESTING GUIDELINES FOR PARTICIPANTS TECHNICAL-OPERATIONAL MODALITIES

5 1. INTRODUCTION The aim of this document is to outline the plan of activities for the activation of new features on the link with the Swiss CSD SIX-SIS. The new features relate to the possibility of - Instructing free of payment instruction on the account number IT already in use for the DVP instructions. (The account IT used until now for FOP instruction will be closed) - Mandatory matching for free of payment instructions according to the protocols and the model already in use within the cross-border settlement service. 2. AIM OF THE TEST The system test aims at allowing participants to the cross-border settlement service to verify their own applications and the correct management of messages produced by the system, with regard to the status of the transactions. 3. TEST ORGANISATION Testing window Start: 10:00 a.m. CET End: 03:00 p.m. CET Activity description Period of time during which participants can perform the necessary testing to verify the correct functioning of the new features. The environment will eventually be available also after the indicated date, in case of need of any additional testing. Any variation in schedule will be notified in due time. 4. REQUIREMENTS TO PARTICIPANTS In order to ensure the smooth execution of the testing, participants are requested to notify to the International Settlement Department the details of all the test transactions instructed during the day. This communication must be sent to the following address: settlement.international@montetitoli.it. TESTING RESULTS: Confirmation of successful execution of testing is expected by the end of the testing period, scheduled on next 29 th June. 5

6 Date of release to production (Planned for 2 nd July) of the new functionalities will be confirmed at a later stage with a specific communication. 5. TESTING GUIDELINES FOR PARTICIPANTS FOP operations can be instructed via RNI message 710, or via input into X- TRM. FOP receipts from a counterpart participating to SIX-SIS must be matched in X-TRM. Financial instruments to be used for testing are: ISIN CODE QUANTITY CH SIX-SIS s account to use is IT TECHNICAL-OPERATIONAL MODALITIES Testing will be performed in PI environment. 6

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