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Brexit

The UK left the EU on 31 January 2020 with a Withdrawal Agreement.

As stated in an FCA update on 31 January 2020, the UK has entered an implementation period which is due to end on 31 December 2020. During the 11-month implementation period, EU law will continue to apply in the UK.

The DSB is continuing to keep abreast of the publicly available information on Brexit and considering the possible implications.

 

UK ToTV/ uToTV Service

In preparation to the possibility of no-deal Brexit, the DSB released its UK ToTV/uToTV service to the DSB’s Production environment on 23 October 2019.

The UK offering was released in the OFF state and will only be switched to ‘ON’ if appropriate after the end of the implementation period and subject to subsequent availability of FCA FIRDS and FITRS systems.

Please refer to a statement related to the EU withdrawal implementation period the FCA published on 31 January 2020 here.

The details of approach, scope and assumptions are laid out in DSB UK ToTV/uToTV specification. Please click on the specification button on the right.

An accompanying UK ToTV/uToTV FAQ document is also available and regularly updated as user queries arise

 

 

Novation

Novating your legal agreement + migrating and/or setting up new connections to support Brexit Contingency Planning

For Power Users:

A.   Novation by Existing Users:

  1. Where an existing user wishes to transfer their Access and Usage Agreement to another/new legal entity, users should download, complete and return a novation deed to DSB Client Admin
  2. If no changes are required to existing technical connectivity (including email domain names, IP addresses, connectivity type such Internet/VPN/BT Radianz/etc., API Type) then the DSB requires at least 5 working days processing time following signature of the Novation Deed by both parties (the DSB and the User)
  3. In the event technical changes are required to support the novation process, please contact the DSB Technical Support team as early as possible as readiness will be subject to the nature of the change to be supported and the pipeline of existing users with similar requests
  1. At minimum, users will need to provide all the technical change details (including email domain names, IP addresses, connectivity type such Internet/VPN/BT Radianz, API Type) by downloading, completing and returning the Production Registration Form to the DSB Technical Support Team
  2. FIX users with changes to the version and/or binary of the application being used has been changed since the date of last certification with the DSB will require re-certification of their FIX connections
  3. Requests will be handled in the order in which they are received and the DSB will work to support the users’ needs to the extent feasible
  4. The DSB will provide a timeline on a case by case basis, with readiness requiring additional time depending on the user’s specific needs. Please note that may vary based on the processing time required to fulfil user requests as the DSB processes these in order in which they are received
  5. Once all legal and technical requirements are completed, novation will take effect from the start of business on the Sunday (after the DSB’s regular weekly downtime).


B.    Users seeking to execute additional/new Agreements:

    1. Where an institution requires connectivity via a new legal agreement, the standard onboarding process will be followed. User must first complete the DSB Usage and Access Agreement and return it to DSB Client Admin for onward processing
    2. Users must also complete and return the relevant technical details using the forms available for UAT Registration and for Production Registration to the DSB Technical Support team to initiate the technical integration process
    3. Please note that users requiring FIX connectivity will need to complete the FIX certification process, details of which are available here
    4. In accordance with DSB policies, users are typically able to test their connectivity in UAT within 5-7 working days for all API connections
    5. With respect to full Production readiness, users will need to have completed FIX certification (FIX Users only) and both the DSB, and the user will need to have signed the DSB Access and Usage Agreement before final production credentials will become available
    6. The DSB usually attempts to complete this process within 5 working days but please note that timelines may vary significantly based on the user’s needs and the processing time required to fulfil user requests
    7. Requests will be handled in the order in which they are received and the DSB will work to support the users’ needs to the extent feasible

 

For Infrequent, Standard and Registered Users:

  1. The DSB is able to support users wishing to upgrade their user type
  2. Users seeking to change their User Type should complete the DSB Usage and Access Agreement and return it to DSB Client Admin for onward processing
  3. Users seeking to set up connectivity as a Power User should refer to the Steps set out in (B) above
  4. Users seeking to upgrade their GUI interface should complete and return the relevant technical details using the forms available for UAT and for Production to the DSB Technical Support team to initiate the technical upgrade process
  5. Requests are typically processed within 5 working days once both the DSB, and the user will have signed the DSB Access and Usage Agreement
  6. Requests will be handled in the order in which they are received and the DSB will work to support the users’ needs to the extent feasible