Progress on AMI-SeCo Single Collateral Management Rulebook for Europe and Eurosystem Collateral Management System – Update
Note: This Announcement, originally published on 2 May 2023 and updated on 3 May 2023, has been further updated to provide the most current version of the Functional Specifications document.
As part of our regular communications, and further to Announcement L22033, LuxCSD1 would like to update customers concerning the impacts regarding the implementation of the AMI-SeCo Single Collateral Management Rulebook for Europe (SCoRE) Standards and Eurosystem Collateral Management System (ECMS).
Impact of the implementation timeline adjustment for SCoRE and ECMS on clients
The Governing Council of the European Central Bank (ECB) and the Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) had decided to postpone the implementation of ECMS and SCoRE to 8 April 2024.
These changes resulted in a review and re-planning of the LuxCSD delivery timeline, which is expected to be completed end of Q2 2023. LuxCSD will provide more details of impacts to clients at that time.
Current progress on LuxCSD’s ECMS programme
LuxCSD continues to work closely with National Central Banks (NCBs), the ECB and other actors on the refinement of these plans, in the best interest of its clients. In addition, as a member of the Collateral Management Harmonisation Task Force (CMH-TF) and its expert groups, that formulate and monitor the implementation of the SCoRE standards, LuxCSD continues to actively take part in discussions and represent its clients’ interests in the best way possible.
Further information on the impacts on clients is included in the attached updated Functional Specifications document. Additional information on the client testing approach and timeline will be made available as part of a separate document in due course, as well as specific information for issuers and issuer agents.
To support clients during the implementation of SCoRE and ECMS, LuxCSD plans client information sessions, training and will provide regular updates on the progress via publications. Further details are available on the dedicated ECMS and SCoRE Implementation web page.
Should you have questions or require further information please contact ECMS.firstname.lastname@example.org, LuxCSD Client Services or your Relationship Manager.
1. LuxCSD refers to LuxCSD S.A., registered office at 42, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B-154.449.