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T2S User Connectivity

T2S User Connectivity. AG meeting Bucharest, 30 June 2011. Overview. General approach The Value-Added Network The Dedicated Link solution. The information provided in this presentation has been prepared in close co-operation with 4CB, in particular Banca d’Italia. General approach.

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T2S User Connectivity

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  1. T2S User Connectivity AG meeting Bucharest, 30 June 2011

  2. Overview General approach The Value-Added Network The Dedicated Link solution The information provided in this presentation has been prepared in close co-operation with 4CB, in particular Banca d’Italia

  3. General approach • The Eurosystem maintains the view that: • Competition is the preferred way to ensure low connectivity costs for Directly Connected T2S Actors (DiCoAs); • Choice is the preferred way to ensure that DiCoAs can connect to T2S in a way that supports their individual business case. • The number of connectivity solutions has to be limited in order to allow a sound technical and operational management of the solutions, in particular from a business continuity perspective. • The Eurosystem will offer two connectivity options to Directly Connected T2S Actors (DiCoAs): • Via a Value-Added Network (VAN) • Via a Dedicated Link (DL)

  4. Overview • General approach • The Value-Added Network • The Dedicated Link solution

  5. The Value-Added Network • The Eurosystem offers a Licence to (up to) two Value-Added NSPs (VA-NSPs). • Banca d’Italia will select the VA-NSPs on behalf of the Eurosystem, according to a formal process, conforming to Italian legislation. • This selection process starts with the publication of the VA-NSP Selection Acts. • The Eurosystem cannot provide any explanation or additional information on the selection process, or the criteria/requirements, other than as indicated in the Selection Acts: • Questions/comments have to be sent to a particular e-mail address. • Both questions and answers will be published on the websites of Banca d’Italia and the ECB. • DiCoAs should know by early 2012 via which VA-NSPs they can connect to T2S. • DiCoAs will pay connectivity fees directly to the VA-NSPs.

  6. Overview • General approach • The Value-Added Network • The Dedicated Link solution

  7. The Dedicated Link Solution • The Dedicated Link solution can be broken down in two parts: • The basic connectivity • The communication functionality • The communication functionality will be implemented by the Eurosystem (and by the DiCoAs using a dedicated link), and will be the same as for the VAN. • This avoids technical and operational risks related to building and managing different communication protocols. • This ensures fair competition with the VA-NSPs (e.g. if the DL protocols would be considered more efficient). • As far as the basic connectivity is concerned, the Eurosystem is considering two alternative options: • The implementation of a network concentrator • The usage of the internal ESCB network (CoreNet) • The Eurosystem intends to make its choice by September 2011.

  8. Option 1:The concentrator model • The Eurosystem will implement access points for basic connectivity, located close to the T2S data centres. • DiCoAs will select a provider of their choice to connect their data centres to the access points. • The access points will “concentrate” traffic coming from the DiCoAs sent via the provider of their choice. • The Eurosystem will have to recover its costs related to the implementation and management of the access points, and related to the management of the communication with the DiCoAs using a Dedicated Link. • The Eurosystem will not bear any costs for the connection of the DiCoA’s data centres to the DL-NSP’s access points, which implies that DiCoAs have maximum control over their connectivity costs. • This option has been assessed informally with some CSDs.

  9. Option 1:The concentrator model REGION 2 REGION 1 T2S site 1 T2S site 2 T2S site 4 T2S site 3 T2S DL-NSP NSP of DiCoA1 NSP of DiCoAn DiCoA 1 site 1 DiCoA 1 site 2 DiCoA 2 site 1 DiCoA 2 site 2 DiCoA n site 1 DiCoA n site 2 Diagram prepared by Banca d’Italia

  10. Option 2: Use of ESCB network • The Eurosystem will use its existing network (CoreNet) to provide end-to-end connectivity to DiCoAs using a Dedicated Link. • CoreNet is currently used for data and teleconference communication between EU Central Banks (and a few non-EU Central Banks and public international institutions). • The CoreNet access points are distributed all over Europe. • The provider of basic connectivity for CoreNet will connect the data centres of the DiCoAs with the closest of these access points, under the responsibility of the Eurosystem. • The general principles of competition law will apply to the provision of these services. • The Eurosystem will have to recover its costs related to the implementation and management of the dedicated links between T2S and the data centres of the DiCoAs. • This option needs further assessment from a technical and legal perspective, before it can be presented in more detail to CSDs.

  11. Option 2:Use of ESCB network Diagram prepared by ECB

  12. Settling without borders

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