t2s user connectivity
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T2S User Connectivity
AG meetingBucharest, 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
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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)
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Overview
General approach
The Value-Added Network
The Dedicated Link solution
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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.
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Overview
General approach
The Value-Added Network
The Dedicated Link solution
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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.
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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.
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Option 1:The concentrator
model
T2S site 1
T2S site 2
T2S site 3
T2S site 4
NSP of DiCoAn
DiCoA 1site 1
DiCoA 1site 2
DiCoA nsite 1
DiCoA nsite 2
DiCoA 2site 1
DiCoA 2site 2
NSP of DiCoA1
T2S DL-NSP
REGION 1 REGION 2
Diagram prepared by Banca d’Italia
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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.
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Option 2:Use of ESCB network
CoreNet
T2Ssite 1
T2Ssite 3
DiCoA1 DiCoA2 DiCoA3
T2Ssite 2
Region 1
T2Ssite 4
Region 2
Diagram prepared by ECB
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Settling
without
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