VPS has recently published the VPS Road Map 1.1 which includes the Share Savings Account (Aksjesparekonto – ASK) and SWIFT MyStandards. All initiatives from previous versions have been included, but there are some minor changes to the time of delivery. The most important deliveries according to the VPS Road Map during Q1 and Q2 2017 are the Subscription Online and the introduction of Intended Settlement Date. In accordance with the revised schedule, we will also deliver specification of all ISO 15022 and ISO 20022 messages for settlement and account in SWIFT MyStandards during Q2.
VPS delivers new functionality to the Subscription Client
On 29 March we delivered a new Subcription Client that includes KAR integration and BankID as possible logon methods
- Integration with the Bank Registry, KAR
- BankID and BankID Mobile as possible logon methods
The Subscription Client will be integrated with KAR – the banks’ joint account and address register. The integration applies to ordering of subscriptions in new issues / resales via the Subscription Client
or VPS Client Services, where the investor registers the bank account. When the investor subscribes, the investorID (personal identification number /organisation number) + stated bank account are sent for validation to KAR. KAR checks that the bank account belongs to the investorID.
We have also introduced new functionality that allows BankID and BankID Mobile as possible logon methods. The investor may select the preferred logon method, in the same way as when logging on to the VPS Client Services.
VPS introduces Intended Settlement Date
New securities legislation in the EU (CSDR) sets an explicit requirement that a Securities Settlement System must be able to handle transactions where the intended settlement date is passed. In order to be compliant with this requirement, VPS will make changes in the VPS Settlement System. The go live date is scheduled for 7 June 2017. The VPS Settlement System has previously not bee